Document background
The Memorandum of Wishes is utilized in German legal practice as a supplementary document to formal legal instruments such as trusts, wills, or foundation documents. While not legally binding, it provides crucial guidance to those responsible for managing and distributing assets according to the author's intentions. This document type is particularly valuable in complex estate planning scenarios, business succession planning, or situations involving substantial assets or multiple beneficiaries. The Memorandum of Wishes allows for detailed expression of personal preferences, family circumstances, and specific considerations that might not be appropriate for inclusion in formal legal documents. Under German law, while maintaining its non-binding nature, it serves as an important reference point for trustees and executors in understanding and implementing the author's true intentions.
