Converted to the total amount of donations in Austria, this means that every ninth euro donated this year will come from a legacy. It is usually sums between 50,000 and 100,000 euros that the deceased bequeath to non-profit organizations.
In Austria, the “Forget-me-not” initiative helps around 2,000 people every year who want to bequeath at least part of their property to an organization. Together with the Chamber of Notaries, “Forget-Me-Not” is also trying to counteract the great lack of information about inheritances, because only 30 percent of 40-year-olds in Austria have already written a will.
When the state becomes the heir
Experience has shown that it is primarily people without children who decide to donate their assets. The strong personal connection to an organization (such as an animal shelter) is often decisive. If there is no will and there is no legal heir, the inheritance goes to the state. Several million euros flow into the state coffers every year in this way.
A last will also helps to avoid disputes within the family: According to a study by the Lower Austrian Bar Association, one in four Austrians has been involved in inheritance disputes.
Source: Nachrichten
