Inheritance Levels Rising in Germany

The amount of money Germans inherit from their parents or grandparents is increasing. According to a study conducted by Dresdner Bank, private individuals with bequeath around one billion euros ($1.24 billion) to their descendents in the next five years. That number will increase to 1.3 billion euros in the period from 2010 - 2015. The study also found that German households today own more assets than in the past. At the end of 2004, Germans had all in all accrued some 10 billion euros ($12.4 billion), a 65 percent increase from 1991. However, the study warned that younger Germans could not depend on the assets of their parents for their financial well being. Because of the rising cost of living, increased life expectancy and higher required contribution levels for health insurance and senior care, older people are having to dip into their savings more often.