The last will and testament

Legacies are more often donated to charitable projects

Michaela Wagner-Braito, notary Thomas Huf and Markus Aichelburg (Vergissmeinnicht)

(Bild: VGMN)

Vorarlberg has developed from being at the bottom of the league to being the leader in Austria when it comes to last will donations. However, to ensure that your last will and testament is actually honored, you should seek advice from a notary. 

The association "Vergissmeinnicht - Die Initiative für das gute Testament", together with the Austrian Chamber of Notaries, commissioned a large survey on the subject of "Wills and Inheritances", in the course of which 2000 people over the age of 40 were questioned. The results for Vorarlberg were presented at a press conference in Lustenau on Wednesday. On the one hand, the study shows that there is still a lot of catching up to do when it comes to wills: Across Austria, only just over 30 percent of people over the age of 40 have made provisions in their will, compared to 28 percent in Vorarlberg.

Huge gaps in knowledge about inheritance
This makes the gaps in knowledge all the greater: in Vorarlberg, for example, only one in four people know that special formal requirements apply to wills written by third parties or that there is the possibility of a statutory care legacy. "Accordingly, there are numerous cases every year in which the last wishes of deceased persons cannot be fulfilled because the content of a will is incorrect or contradicts the statutory provisions," explains Markus Aichelburg, head of the Vergissmeinnicht initiative. Notary Thomas Huf from Götzis therefore recommends that anyone who would like to make provisions with a will should have a free initial consultation with a notary.

For 39 percent of Vorarlberg residents, reaching a certain age is the first reason for making a will, for 31 percent it is an illness and for 21 percent the death of a loved one. On the other hand, the willingness to leave an inheritance to a good cause has increased in the region: 22 percent of over-40s can now imagine donating their entire estate to charitable projects - the highest figure in Austria.

Testamentary donations are becoming increasingly popular
In view of the demographic shift towards more childless and single-person households, more and more people are asking themselves what should happen to their assets after their death. In addition, according to forecasts, inherited assets will double from the current 21.5 billion euros per year to almost 41 billion euros by 2050 - mainly because the assets of the baby boomer generation will be inherited. Michaela Wagner-Braito, Managing Director of Lebenshilfe Vorarlberg, whose organization also relies on donations, emphasizes that anyone who decides to make a donation in their will can still do good even after their death: "By leaving a portion of their estate to Lebenshilfe Vorarlberg, for example, people are sending a lasting signal of solidarity. They can be sure that their legacy is in good hands with us. We know how much trust people place in our work and will do everything we can to fulfill their last wishes."