Dispute Over Inheritance? What Distinguishes Vienna from the Rest of Austria

More than a third of respondents have already inherited – just as many report family disputes. 73 percent are convinced: inheritances lead more to tensions than to cohesion. A quarter fear that an inheritance case could divide their own family.

Viennese Inherit More Often

In Vienna, a slightly different picture emerges than the national average: Almost half of Viennese (47 percent) have already received an inheritance – significantly more than in the rest of Austria. At the same time, only eleven percent expect a future inheritance, while 38 percent assume they will come away empty-handed. Throughout Austria, at least 22 percent still expect an inheritance.

Despite the high inheritance rate, only 17 percent of Viennese have drafted a will – this is also below the Austrian average. Additionally, more than half state that they have nothing to bequeath – also a significantly higher value than the national average (39 percent).

High Assets, Little Security

Around 42 percent of heirs reported having inherited over 50,000 euros. A third received over 100,000 euros, 15 percent even over half a million. Nevertheless, only 20 percent have drafted a will – even though 82 percent desire an individual estate arrangement. Often, concrete implementation is lacking.

There is a particular need for improvement in the protection of inherited assets: 31 percent keep cash, jewelry, or gold unsecured at home. Only 40 percent use a bank vault. Insurance experts strongly advise secure storage, especially for higher values.

Children as the Main Heirs

61 percent of the population own assets they wish to bequeath – mostly real estate, cash, or jewelry. The main beneficiaries are intended to be their own children (70 percent) or partners (31 percent) in most cases. Only five percent want to donate their inheritance. At the same time, every second person does not want to restrict themselves financially just to leave something behind.

Inheritance as a Taboo Topic in Vienna

More than half of Viennese (58 percent) would use a potential inheritance as an investment, 37 percent would spend it on travel – more than twice as many as in the nationwide comparison (18 percent).

In Vienna, the topic of inheritance is discussed openly less often than in the rest of the country (39 percent compared to 49 percent). At the same time, inheritance disputes occur more frequently in Viennese families: 41 percent of respondents state that there have already been family disputes over an inheritance – nationwide, this figure is 36 percent. 31 percent of Viennese even fear that an inheritance case could divide their family.

(Red)

This article has been automatically translated, read the original article here.