As of: February 3, 2024, 11:16 a.m
By: Philipp Bräuner
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There is a lot of debate about concepts such as an unconditional basic income.
A foundation sets a concrete example and awards 20,000 euros to young people.
Frankfurt – If you don't inherit, your cards are bad?
The reality is probably more complex.
But the advantages of inherited wealth for a successful start in life are undisputed.
This is illustrated not least by the public discussion surrounding the decision of Marlene Engelhorn, heiress to the BASF Group, to give away her assets.
The “A Heritage for Everyone” foundation is giving away 20,000 euros to young people.
© IMAGO/Ok Shu
While political circles have so far been hesitant to debate such concepts, the “An Inheritance for Everyone” foundation is tackling the issue practically.
It awards a basic inheritance of 20,000 euros each.
According to the foundation, this amount is awarded three times a year across Germany, in previously drawn cities.
In 2023, the choice fell on Frankfurt am Main (West district), the city of Wuppertal and the Aachen city region.
Conditions for the 20,000 euro basic inheritance are clearly defined.
The foundation also plans to give young people the basic inheritance three times in 2024, as foundation board member Christoph Prüm explains.
Financing for 2024 and 2025 is secured.
The cities where the raffle will take place are expected to be selected in May.
“The actual raffle should then take place in the fall,” adds Prüm.
As soon as the locations for the draw have been determined, those interested can apply to take part.
In addition to one of the three places of residence to be raffled off, there are other criteria set by the foundation:
Participants must celebrate their 30th birthday in 2024, i.e. be born in 1994.
Applicants may have received a maximum inheritance value of 3,000 euros by then.
The winners undertake to invest the basic inheritance and to let the investment rest for three years.
They must also be prepared to be interviewed by the foundation once a year in order to document the impact of the project.
Only those who are personally present at the raffle have the chance to win.
The institute sees the financing of the basic inheritance through taxes as realistic
The “An Inheritance for Everyone” foundation is not the only organization that believes a basic inheritance of 20,000 euros is feasible.
Already in 2021, economist Stefan Bach from the German Institute for Economic Research (DIW) dared to make a similar move.
According to his calculations, such a basic inheritance would cost the state around 15 billion euros per year.
As a financing proposal, he brings into play higher taxes on high wealth.
(pkb)
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