Best Estate Planning Lawyers in Køge

About Estate Planning Law in Køge, Denmark

Estate planning is the process of preparing for the management and distribution of your assets during your lifetime and after your death. In Køge, Denmark, estate planning typically includes making a will, establishing trusts, setting up powers of attorney, and addressing inheritance tax concerns. The Danish legal system provides clear rules but also offers flexibility to shape your estate as you wish - provided you adhere to certain mandatory guidelines, particularly concerning your closest family members. Whether you have significant assets or simply want to ensure your wishes are respected, estate planning offers peace of mind for you and your loved ones.

Why You May Need a Lawyer

While Danish inheritance law is designed to be transparent, it can still be complex, especially when family circumstances or asset structures are complicated. Here are some common situations in which you may require legal help for estate planning in Køge:

• You want to write or update a will or testament
• You have children from multiple relationships
• You own property in more than one country
• You wish to establish a trust or set up conditions for inheritance
• You want to plan for the minimization of inheritance taxes
• There are concerns about the mental capacity of an heir or yourself
• You anticipate potential disputes among heirs
• You want to ensure the future of a family business
• You seek advice on gifting assets during your lifetime
• You want to prepare powers of attorney regarding your healthcare or property management

A lawyer specializing in estate planning can help ensure your wishes are legally binding and your loved ones are protected from unexpected complications.

Local Laws Overview

Danish estate planning is governed mainly by the Danish Inheritance Act and related statutes. In Køge, as elsewhere in Denmark, these key points are particularly relevant:

• Forced heirship: Spouses and children (or their descendants) are entitled to a compulsory share of the deceased's estate, which is typically one-fourth, regardless of the contents of a will.
• Wills and testaments: Adults can make a will specifying how their assets should be distributed, but must respect the rights of forced heirs.
• Succession without a will: If you die without a valid will, assets are distributed according to Danish intestacy rules, which favor spouses, registered partners, and biological children.
• Inheritance tax: Denmark imposes an “arveafgift” (inheritance tax) on most inheritances passing to anyone except spouses. The standard rate is 15 percent for children and certain close relatives, and higher for others.
• Powers of attorney: You can designate a trusted person to make decisions about your finances and healthcare if you become unable to do so yourself - known in Danish as "fremtidsfuldmagt".
• International aspects: Assets located abroad or foreign citizenship can complicate inheritance. In such cases, both Danish and international law may apply.

A lawyer familiar with local Køge regulations and Danish national laws can advise on the best approach for your estate planning needs.

Frequently Asked Questions

What happens if I die without a will in Køge?

If you die intestate (without a will), Danish law determines who inherits your estate. Usually, your spouse and children will inherit by fixed portions. If you have no close family, the inheritance may go to more distant relatives or, in the absence of any relatives, to the state.

Can I exclude my children from my inheritance?

No, you cannot fully exclude your biological or adopted children. By law, they are entitled to a compulsory share of your estate. However, the remainder of your estate can be distributed as you wish by a valid will.

What is a “fremtidsfuldmagt” and why is it important?

A “fremtidsfuldmagt” is a future power of attorney. It allows you to appoint someone to make personal and financial decisions on your behalf if you can no longer do so yourself. This can prevent the need for court-appointed guardianship if you become incapacitated.

How much inheritance tax will my heirs have to pay?

Most close relatives, such as children and parents, pay a standard inheritance tax of 15 percent on what they receive. Spouses and registered partners are exempt. More distant heirs pay a higher rate.

Can I leave property or money to a charity?

Yes, you can. You can designate a portion of your estate to a charity in your will. However, you must still respect the compulsory share for close relatives.

Do I need a lawyer to write a will?

While it is possible to write your own will in Denmark, consulting a lawyer ensures that your will is valid, reflects your wishes, and complies with Danish law, including forced heirship rules.

How can I protect my spouse’s right to stay in our home?

You can structure your will to ensure your spouse has the right to continue living in your home after your passing. This may involve setting up a right of residence (brugsret) or other legal arrangements with lawyer assistance.

Is my foreign will valid in Denmark?

A foreign will can sometimes be recognized in Denmark, but this depends on various factors, including compliance with Danish formalities and relevant EU rules. It is best to have a Danish lawyer review any foreign wills if you have connections to Denmark.

What happens if I own property in another country?

Owning foreign property complicates estate planning. Different countries have their own inheritance laws, so you may need to prepare separate wills for each jurisdiction or seek legal advice on cross-border inheritance planning.

When should I review or update my estate plan?

It is wise to review your estate plan whenever you experience significant life changes, such as marriage, divorce, the birth of a child, or acquiring substantial assets. Laws and personal circumstances can change over time, and a lawyer can help keep your plan up to date.

Additional Resources

For those seeking more information or support on estate planning in Køge, these resources may be helpful:

• The Danish Courts (Domstolene) - information on wills and inheritance processing
• The Danish Tax Agency (Skattestyrelsen) - guidance on inheritance tax
• The Association of Danish Law Firms - directories to find local estate planning lawyers
• Legal aid services in Køge municipality
• The Danish Patient Safety Authority (Styrelsen for Patientsikkerhed) - information on powers of attorney

Next Steps

If you require legal assistance with estate planning in Køge, Denmark, consider the following steps:

• Make a list of your assets and family circumstances so you understand your needs
• Gather any existing legal documents, such as wills, marriage certificates, or property deeds
• Contact a reputable local lawyer specializing in estate planning to discuss your situation and goals
• Schedule a consultation to receive tailored advice and prepare the necessary documentation
• Review your estate plan regularly and update it when your circumstances change

Taking these steps with professional guidance can help you ensure your wishes are respected while protecting your family’s future.