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DO WORKS OF ART IN A SWISS ESTATE COUNT AS HOUSEHOLD EFFECTS OR AS AN ASSET? WHAT ARE THE TAX CONSEQUENCES? WHAT SHOULD BE DOCUMENTED WHEN COLLECTING ART?

An art collection may qualify as tax-exempt household goods or taxable investment / asset in Switzerland. The decisive factors may be the ratio of the value of the art objects to the total assets, the type of insurance (household contents or art insurance), the actual use and the purpose (residential purpose or capital investment). Is a work intended to complement… Read More »DO WORKS OF ART IN A SWISS ESTATE COUNT AS HOUSEHOLD EFFECTS OR AS AN ASSET? WHAT ARE THE TAX CONSEQUENCES? WHAT SHOULD BE DOCUMENTED WHEN COLLECTING ART?

WHO DOES A VALUABLE PICTURE IN A HOUSE BELONG TO? THE GRANDMOTHER GIFTED THE PAINTING TO HER NIECE, AND SHE SOLD THE HOUSE TO HER GRANDSON UNDER A RESERVATION CLAUSE.

C was the owner of a house with art works, including a painting by the Swiss artist Carigiet. She gifted her niece B this painting by a written contract dated 20 January 2006. The painting remained in the house, as the donor retained the usufruct of the painting until she moved out of the house.   One week later, C… Read More »WHO DOES A VALUABLE PICTURE IN A HOUSE BELONG TO? THE GRANDMOTHER GIFTED THE PAINTING TO HER NIECE, AND SHE SOLD THE HOUSE TO HER GRANDSON UNDER A RESERVATION CLAUSE.

A TESTATOR GRANTS HIS HOUSEKEEPER, WHO LIVES WITH HIM, THE USUFRUCT OF THE RESIDENTIAL HOUSE IN HIS WILL. THE HOUSEKEEPER IRREVOCABLY RENOUNSES THE USUFRUCT IN FAVOR OF THE HEIRS WITHOUT COMPENSATION. WHAT ARE THE TAX CONSEQUENCES IN THE CANTON OF ZURICH?

A right of use has an objective value: the property can be lived in or rented out to third parties. The usufructuary receives the rental income and bears the expenses (ordinary maintenance, mortgage interest, taxes, duties and insurance interest).   In the Canton of Zurich, a waiver of the usufruct without compensation can be qualified as a taxable gift for… Read More »A TESTATOR GRANTS HIS HOUSEKEEPER, WHO LIVES WITH HIM, THE USUFRUCT OF THE RESIDENTIAL HOUSE IN HIS WILL. THE HOUSEKEEPER IRREVOCABLY RENOUNSES THE USUFRUCT IN FAVOR OF THE HEIRS WITHOUT COMPENSATION. WHAT ARE THE TAX CONSEQUENCES IN THE CANTON OF ZURICH?

DO YOU TRANSFER YOUR PROPERTY TO YOUR CHILDREN AHEAD OF TIME AND RETAIN (AS THE DONOR) A RIGHT OF RESIDENCE? or DO YOU DESIRE TO BEQUEST A LIFE STATE TO YOUR PARTNER? HOW DOES A MOVE TO A RETIREMENT OR NURSING HOME AFFECT THE RIGHT OF RESIDENCE? 

If the deceased was married, the surviving spouse may, even without a will, demand the allocation of the jointly occupied dwelling which does not belong to him or her to be set off against his or her portion of the inheritance, or – instead of ownership – the granting of the right of residence (cf. Art. 612a Swiss Civil Code,… Read More »DO YOU TRANSFER YOUR PROPERTY TO YOUR CHILDREN AHEAD OF TIME AND RETAIN (AS THE DONOR) A RIGHT OF RESIDENCE? or DO YOU DESIRE TO BEQUEST A LIFE STATE TO YOUR PARTNER? HOW DOES A MOVE TO A RETIREMENT OR NURSING HOME AFFECT THE RIGHT OF RESIDENCE? 

THE UNITED NATIONS’ INTERNATIONAL DAY OF OLDER PERSONS AND TESTATOR’S CAPACITY: ARE YOU ILL AND WISH TO PROVIDE FOR YOUR LOVED ONES? DO YOU DESIRE TO REDUCE THE RISK OF YOUR RELATIVES SUING YOUR APPOINTED HEIR, CLAIMING THAT YOU LACKED TESTAMENTARY CAPACITY?

The testator developed cancer and died of it in December 2014. Prior to this, he registered his partnership with C in July 2014 and made a public will in August 2014. He appointed his partner C as universal heir.   His sisters sued, among others, C. They also claimed that the testator was incapable of disposing.   A testamentary disposition… Read More »THE UNITED NATIONS’ INTERNATIONAL DAY OF OLDER PERSONS AND TESTATOR’S CAPACITY: ARE YOU ILL AND WISH TO PROVIDE FOR YOUR LOVED ONES? DO YOU DESIRE TO REDUCE THE RISK OF YOUR RELATIVES SUING YOUR APPOINTED HEIR, CLAIMING THAT YOU LACKED TESTAMENTARY CAPACITY?

TODAY IS WOLRD PATIENT SAFETY DAY. MEDICATION AND TREATMENT ERRORS ARE OFTEN PREVENTABLE, AS IS MALICIOUS INFLUENCE OR LEGACY HUNTING. A NURSE UNWORTHY OF INHERITING SHALL NOT ACQUIRE ANYTHING BY A TESTAMENTARY DISPOSITION.

A nursing professional cared for a single woman from May 1997 until her death in 2015. The so-called testatrix bequeathed a property to him. The appointed executor refused to pay the bequest to the nurse. The nurse sued for delivery of the bequest. In vain: All instances deemed him unworthy of inheritance.   A person is unworthy to inherit or… Read More »TODAY IS WOLRD PATIENT SAFETY DAY. MEDICATION AND TREATMENT ERRORS ARE OFTEN PREVENTABLE, AS IS MALICIOUS INFLUENCE OR LEGACY HUNTING. A NURSE UNWORTHY OF INHERITING SHALL NOT ACQUIRE ANYTHING BY A TESTAMENTARY DISPOSITION.

REFLECT, SEEK ADVICE AND PLAN YOUR ESTATE. Three steps to passing on values and assets while preserving family peace.

Have you provided for your loved ones and settled your final affairs? How would you like to be remembered? Start today, regardless of your age and life situation. Leave nothing to chance and reconsider existing arrangements.   FIRST STEP: REFLECT. Who or what do you want to support? Which loved ones do you want to provide for? What family conflicts… Read More »REFLECT, SEEK ADVICE AND PLAN YOUR ESTATE. Three steps to passing on values and assets while preserving family peace.

MEDIATION and INHERITANCE LAW. Address GENERATIONAL CONFLICTS at the ESTATE PLANNING stage. Disputes in communities of heirs are expensive and take a long time.

Generations often have divergent perceptions and values, especially pertaining to shaping their lives and choosing a career. Expectations are often not met. This can lead to tensions and conflicts.    Hold talks in a neutral place with the help of a mediator who does not take sides. She can give a voice to all parties involved and ensures constructive discussions.… Read More »MEDIATION and INHERITANCE LAW. Address GENERATIONAL CONFLICTS at the ESTATE PLANNING stage. Disputes in communities of heirs are expensive and take a long time.

May 15, 2022 vote on ORGAN HARVESTING. From the expanded consent provision to the expanded opposition provision. WHAT SHOULD BE DONE? Are you planning a VACATION ABROAD? WHAT DOES APPLY THERE?

In Switzerland, the extended consent solution currently applies. Your individual arrangements (living will, organ donation card) are not yet to be adapted at the time being. Inform your next of kin whether you are for or against organ donation in any case, in order to take the pressure off them.   Following the “Yes” vote on the amendment to the… Read More »May 15, 2022 vote on ORGAN HARVESTING. From the expanded consent provision to the expanded opposition provision. WHAT SHOULD BE DONE? Are you planning a VACATION ABROAD? WHAT DOES APPLY THERE?

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