The Legal 500 is recognised as the largest legal guide in the world. The comprehensive research programme is revised and updated every year in order to provide as up-to-date a picture as possible of the global legal market.
The most important trends in the area of private clients and nonprofits:
- There is an increase in disputes regarding inheritance fraud and the interpretation of wills, which is not least due to demographic change in view of an ageing society.
- The entry into force of the Act on the Modernisation of Partnership Law (MoPeG) on 1 January 2024 will result in an increased volume of mandates for the amendment of partnership agreements and company succession planning.
- At the same time, it was decided to adapt inheritance tax law to the MoPeG, making the requirements for tax benefits more complex. Future tightening is expected.
- The increasing international integration and mobility of entrepreneurs and wealthy private individuals is also increasing the need for advice. In addition, geopolitical factors and concerns about tax increases are driving people to move abroad; law firms are therefore increasingly advising on exit taxation and tax optimisation.
- High net worth individuals are showing increased interest in family risk and privacy management advice in order to protect themselves from cyber attacks and transparency requirements.
- The new law on the standardisation of foundation law, which came into force on 1 July 2023, is intended to standardise the previously heterogeneous regulations in the individual federal states. While the establishment of a foundation has been simplified, foundations must now provide more comprehensive information about their activities and finances.