Every year, assets totalling billions of euros are transferred
to the next generation in Germany. This mostly happens by
inheriting.
The meaning of inheriting
"Inheriting" ("erben") does not just mean
that the heir ("Erbe") receives something from the assets
of the decedent. Rather, the heir, either alone or together with
other heirs, is the testator's so-called universal successor.
In the event of death, all rights and obligations of the testator
that are not of a highly personal nature automatically pass to the
heir or community of heirs - the heir or community of heirs fully
takes the place of the decedent. In case of a community of heirs,
until the estate is divided up, each heir is entitled to a pro rata
share in the entire estate and has no right to individual items of
the estate.
