In Switzerland, we have several options to legally document our last will. We will explain the key differences between a will and an inheritance contract, as well as the specific features of each.
Types of will
When drafting a will, we can choose between three different types:
- The handwritten will: This document must be fully handwritten. If it is typed up but signed by hand, it will be invalid.
- The public will: This document is drafted by a notary in the presence of two witnesses. This type of will is particularly suitable for persons who are no longer able to write the text by themselves.
- The oral will: This type of will is only used in cases of emergency, for instance in immediate danger to life, and has to be certified immediately by two witnesses.
We recommend filing the will with the competent authority. It can also be registered in the Swiss Central Register of Wills, where its filing location will be documented.
Advantages and disadvantages of inheritance contracts
An inheritance contract fundamentally differs from a will due to its binding nature. While a will can be changed unilaterally at any time, an inheritance contract can only be amended with the consent of all parties involved.
Since 1 January 2023, a significant statutory prohibition on gifts applies to inheritance contracts. This means that lifetime gifts are only permitted if they are expressly allowed in the inheritance contract. This regulation also applies retroactively to existing contracts.
The advantages of an inheritance contract are especially evident in the following situations:
- When granting irrevocable benefits to spouses
- If heirs voluntarily wish to waive their statutory share
- When a binding settlement of inheritance buyouts is required
Please note that an inheritance contract must be certified by a notary. While this increases legal certainty, it also reduces flexibility in the event of unexpected situations such as family disputes.
For optimal estate planning, it is crucial to carefully analyze your individual needs and family circumstances. We recommend seeking professional advice when choosing between a will and an inheritance contract to find the solution best suited for your specific situation.
