Commercial law: New seizing protection for entrepreneurs - Bundestag decides safety device of the age precaution of independent

Martin J. Warm, attorney // specialist lawyer for tax law // specialist lawyer for industrial law/lawyer for the middle class in Paderborn (openPR) - the German Bundestag advised to 14.12.2006 the law for the seizing protection of the age precaution finally. In the future the age precaution of independent is protected in the same way against the enforcement access of the creditors like the right to a pension dependently persons employed. „With these reorganizations independent entrepreneurs are better secured. The seizing protection for life insurances, which form today a large portion of the age precaution, is to become clearly improved thereby “. An income of independent enjoys so far no seizing protection. They under-fall unrestrictedly, thus even if them excluding the age safety device serve, the single or total enforcement. In individual cases this can lead to the fact that persons lose their entire age safety device and in the age then are dependent on national support. The law secures with it not only the subsistence level of independent at the age separates relieved also the state of social security benefits. Receivers of achievements from a legal or operational old age pension insurance are not exposed to this risk. The rights to a pension from the old age pension insurance, which can be only seized like earned incomes, remain to them. Better basic conditions for business startups are to be promoted furthermore by the seizing protection production as well as the culture of the independence. In a first step are in particular the furthest common forms of the age safety device of independent, which are secured life insurance and the private old age pension insurance, against barrierless enforcement access. The law is however openly enough formulated, in order to cover also different investments of funds, which are dedicated to the age precaution. A) Scope of protection: The pension payments, which are furnished on such insurance, are to be protected in the same way as from the legal old age pension insurance. This presupposes a double seizing protection. On the one hand are to be protected after entrance of the accident from the insurance giver to paying pensions in the same way like pensions from a legal old age pension insurance. In order to at all only make for humans possible the structure of such a age safety device, it is on the other hand required to subordinate also the precaution capital which can be saved to a seizing protection. b) Prevention of abuse: In order to prevent that net assets are extracted abusively from the access of the creditors, the seizing protection is limited to such precaution capital, which was deposited by the entitled one irrevocablly into its age precaution. The achievements from the saved capital may be furnished only with entrance of the pension case or in the case of the inability to work exclusively as lifelong pension. Beyond that the insurant has to do irrevocablly to have its requirements from the insurance contract. Except for the death no capital right to vote may be agreed upon. After an addition made in the legislative procedure also survivors are included into the scope of protection. C) Progressive arrangement of the precaution capital: The height of the seize-protected precaution capital is strictly limited and dependent on the age of the entitled one. Only one capital stick is protected, from in the case regular a payment of dues with completion 65. Lebensjahrs a pension to be gained can, which corresponds within for instance the seizing free border. The amounts of relay, which can be put on annually unseizable, are enough from 2000 euro with a 18jährigen up to 9000 euro with one over 60jährigen. Reason for the progressive rate is that to life-younger humans remains to more time, in order to develop its age precaution. Into the seizing protection also the pensions from for taxation promoted age precaution abilities are included.

Communicated of: Attorney TEAM.de warm & Kanzlsperger in Paderborn, attorney Martin J. Warm, Fachanwalt for industrial law, specialist lawyer for tax law, lawyer for middle class and economics www.rechtsanwalt-in-paderborn.de; www.rechtsanwalts-TEAM.de

Attorney TEAM.de
Warmly & Kanzlsperger
in office community

Attorney
Martin J. Warm

Specialist lawyer for tax law
Specialist lawyer for industrial law

Their attorney partner with emphasis
Corporate law. Enterprise right.
Industrial law. Treaty right. Commercial law

Vattmannstrasse 5
33100 Paderborn
Telephone: 0 52 51/52 48 - 0
Fax: 0 52 51/52 48 - 48
mailto:warm@rechtsanwalts-TEAM.de
Internet: www.rechtsanwalts-TEAM.de

Attorney TEAM.de warm & Kanzlsperger in Paderborn - lawyers for the middle class in private law and commercial law - a modern law office with emphasis industrial law for employee, industrial law for employer, bank right, labor management relations right, vomit, non-profit character right, managing director, corporate law, GmbH right, commercial law, collection right, EDP right, insolvency law, IT-right, capital investor protection, limited partnership, protection against dismissal law, right for operational age precaution (bAV), reorganization right, tax law, steering wheel meeting right, law on societies/donation right, treaty right, enterprise right, commercial law.

As an attorney locally we are active as competent partners in office community and interdisciplinary co-operation with chartered accoutants, tax counsels and swore in accountants in all questions of the restaurant civil law.

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