Swiss Inheritance Reaches Record CHF100 Billion as Study Highlights Digital Estate Planning Gap
A recent study by the Swiss Federal Statistical Office reveals that inheritance and donations in Switzerland amount to approximately CHF150 billion annually. The report also highlights trends in inheritance distribution, digital estate planning, and wealth distribution among married couples.
The study found that disputes in inheritance distribution are uncommon, with disagreements mainly stemming from dissatisfaction with arrangements or perceived unfairness. Concerning digital assets, only 1% of people have made provisions for their online banking, email accounts, and social media profiles after their death.
In terms of wealth distribution, half of people bequeath more than CHF1.4 million, while the other half leave less. Traditional family structures typically see inheritance going to the surviving partner and then the children. This year, a record-breaking CHF100 billion is expected to be passed on or donated.
Married couples often opt for an inheritance contract, while cohabiting couples usually create a will. The median wealth of married couples in Switzerland stands at around CHF1.4 million. A quarter of couples leave behind less than CHF829,000, while another quarter can pass on more than CHF2.4 million. Homeownership is prevalent, with 84% of people owning their own home, which often constitutes the largest portion of their assets. Individuals typically make arrangements via a will, with many choosing to make advance inheritance payments after the age of 70.
The Swiss Federal Statistical Office's study provides valuable insights into inheritance and wealth distribution in Switzerland. With record amounts set to be bequeathed this year, understanding and planning for inheritance has never been more crucial. However, the study also highlights the need for better planning of digital estates and the importance of open communication about inheritance within families.
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