When faced with the loss of a loved one or sudden incapacitation, family members are often confronted with difficult decisions. To clarify these questions and ensure that their wishes are respected, it is important to have certain legal documents in place. The living will, advance directive, and will are all crucial tools that can help families navigate these challenging times.
Creating these documents is relatively simple and straightforward. All you need is paper, a pen, and a laptop. A will is necessary if you want to deviate from the distribution key provided by law, which provides for the entire inheritance to be divided between those with a compulsory share. To determine what the distribution key provides for in your specific case, you can use an online will calculator such as the one offered by the Swiss Mountain Aid. This tool allows you to input your family information and calculate your inheritance based on the compulsory shares and freely available share.
In recent years, individuals have been given more freedom to dispose of at least 50% of their inheritance as they see fit. The partially revised Swiss inheritance law only requires compulsory shares for spouses and descendants. The easiest way to achieve this is by using a will generator such as DeinAdieu.ch platform. This tool guides you through creating your digital will template by asking questions about your family background and distribution of assets. Once completed, you simply need to copy and sign it manually before notarizing it publicly if you choose to store it electronically.
It is important to note that only handwritten and signed wills are legally binding in Switzerland, regardless of the type of paper used. There are templates available from non-profit organizations that can serve as a guide when creating your will without any template.
As people approach retirement age, financial planning becomes increasingly important. Questions arise such as how much of their pension savings should be spent each year, whether they should continue investing in stocks, and what happens to their assets if they require care.
The advance directive comes into effect in situations where someone becomes temporarily or permanently incapacitated from making decisions for themselves. For example, if someone is in a coma due to an accident or illness.
If you want someone specific to represent you during this time, an advance directive can be used to specify who should make decisions on your behalf regarding matters such as opening mail, paying bills
