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Old 17.04.2021, 22:24
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Will question

My father in law made a Will in a investment company which handle all his assets. So after he died, the 50% is for my mother in law then the rest is split to his children. But we cant inherit anything now which is good, so that my mother in law still own the house and no need to sell it.



When everyone signed the inheritane in that investment company with a lawyer, my mother in law asked if my husband can use part of the money to buy a house, one staff said NO right away and perhaps a higher position staff disagreed with her and said `could be, we might find a solution`


Because my mother in law really hope we can buy a house, and she keep saying that this is your money, no points on keep paying rent and much better to own a house. But the thing is my husband just not sure if we are allowed to use part of this money. I have a feeling that the investment company will make it sound difficult because if my mother in law take out the cash, their commission will also less.



If i dont understand it wrong, all assets will be kept by my mother in law until she dies, does she has the right to give the part of my husband now that he will inherit in the future? Can the investment company which handle the Will have the right to say no?
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Old 17.04.2021, 22:28
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Re: Will question

In short, you are screwed and need to wait.

Sorry, but I have known people in similar situations, nothing to do.

Tom
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Old 17.04.2021, 22:59
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Re: Will question

Basically, it sounds like he put all the money into some sort of 'trust' fund / business entity.


This is a way to maybe minimise tax and but also to control the money beyond the grave....



Ouch...
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Old 18.04.2021, 12:59
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Re: Will question

Surprised to know that but at least we wont think they lie to us if both of you replied the same answers. thanks anyway
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Old 18.04.2021, 14:56
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Re: Will question

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My father in law made a Will in a investment company which handle all his assets.
Wills in Switzerland are not drafted by "investment companies" but by notaries (property and family law lawyers) or (infrequently) by the testator writing a holographic (hand-written) will usually from a model or forms book.

If you have a copy of the will, ask the notary who wrote it can tell you what you want to know, at least in general terms. Don't rely on a public forum for answers to legal questions.

FWIW i have a holographic will that covers my Swiss assets only (an apartment that is under water with its mortgage: that will be the bank's problem for having given me a "liar's loan" 15 years ago, with the whole property development having lost value in the interim.) And an English will that covers my English assets, consisting solely of a bank account that when I get around to it I will make joint with a daughter, making the will irrelevant and not needing probate unless the Estate has some kind of wrongful death claim one day.

English wills can give executors discretion (something possible in the USA only with a testamentary trust) and the law allows heirs to agree to a variance in the will for up to two years. (That also allows for an IHT dodge: assets over the £325k (or £425) allowance pass to the surviving spouse, if any, and after two years he gives the property away as a Potentially Exempt Transfer. If he survives seven years, no IHT.

And for my US assets I have a Revocable Living Trust and Transfer on Death ("Totten Trust") provisions on my bank account (something that doesn't exist in other countries AFAIK) although beneficiaries can be specified for SIPPs (private UK pensions) and the like.

But then I'm a retired lawyer. This is not DIY stuff for others to try. The Swiss Justice of the Peace will have no powers over the foreign assets. S/he or the bank will have to seek ancillary probate at substantial expense to attack any ring-fenced foreign assets.

I post this explanation since this is an English Forum and not a Swiss Law discussion group for issues related solely to Swiss citizen-residents. Mostly when I was in practice and saw institutionally-drafted "wills" they were part of some tax-evasion scheme. That led to FATCA and the prosecution of all the major Swiss banks (Google: FATCA Globalex) and an end to much of this stuff.

Stiftungen and Anstalten are family foundation-type entities that get around the absence of "trusts" in Swiss law (Switzerland has ratified The Hague Convention and a foreign trust may be recognised.) Swizerland has "forced heirship". It is very difficult to disinherit a child. There are facts in your case that we don't know.

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When everyone signed the inheritane [sic] in that investment company with a lawyer
could mean a lot of things. Heirs have the right to an accounting (they would want to disclaim if the succession was insolvent) and they might have been willing to give up or delay certain rights.
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Old 18.04.2021, 20:46
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Re: Will question

Thanks for your reply Caryl, my mother in law will find out more soon since she is having a meeting with the investment company tomorrow. She told us that they charge more mangement fee or commisson and she is not happy about it, so shes much perfer to take out the money for us to buy a house if she is allowed to do that. If the answer is negative, perhaps we could also go to Notary to find out more as suggested. thanks.
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Old 18.04.2021, 22:05
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Re: Will question

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My father in law made a Will in a investment company which handle all his assets. So after he died, the 50% is for my mother in law then the rest is split to his children. But we cant inherit anything now which is good, so that my mother in law still own the house and no need to sell it.
Sounds like an Ehe- und ErbVertrag (EEV), by which the spouses designate each other as the sole heir upon their death. Such a contract requires consent by the other mandatory heirs (that's at least OP's husband plus his siblings [you mention children, plural]) because it infringes on their inheritance rights. An EEV would also matche the description in your 2nd paragraph, but of course whether there actually is an EEV is an open question.

You don't need an investment company for that though, by default all heirs (those who accepted their part of the estate) together form an "ErbenGemeinschaft" (EG). If all members of the EG agree they can do pretty much anything with the inheritance as long the deceased's will allows it.
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Old 18.04.2021, 23:45
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Re: Will question

I don't know what's so "ouch" about it. The construction allows the wife to remain in the house which otherwise it seems could have been sold and split. I assume the monetary element would also provide an income. We don't know about the figures but I would suppose that the total amount is less than twice the value of the house. If the deceased thought there was enough money to share some around and wanted to do so he could have stated that but he didn't. If the heirs signed away their rights then I'm not sure what can be done. If the wife wanted to give some money (of her own) to the son then she's of course free to do so. She could remortgage the house if she really wanted to.
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Old 19.04.2021, 02:34
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Re: Will question

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Wills in Switzerland are not drafted by "investment companies" .....
Perhaps OP means something like the Vermögenszentrum.
https://www.vermoegenszentrum.ch/individuals.html
which provides advice about investments and also, as one of its services, about estate planning and wills:
https://www.vermoegenszentrum.ch/dam...2018.01_EN.pdf
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Old 19.04.2021, 11:38
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Re: Will question

Thats what I thought too. If my mother in law wanted to give some money (of her own) to the son then she's of course free to do so, as long as the house still own by her without selling it to get the cash nor over the amount that my husband should have in the future.

Thanks all for the input, really appreciated.
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