A basic inheritance for all citizens, regardless of family wealth, should enable equal starting opportunities in life. The idea will be tested in a pilot project in three German cities in 2024, with 20,000 euros being raffled off in each.
The “An Inheritance for Everyone” foundation has announced that it will also be holding a raffle for land heirs in 2024. On July 7, 2024, the three German cities in which the campaign will take place will be drawn. All 30-year-olds who have their main residence in these cities on July 7, 2024 can then register for the final raffle. One person will be selected per city and will receive 20,000 euros.
Conditions of participation and procedure
Anyone born in 1994 is eligible to take part. Applications are made via a simple contact form, which is only activated after the cities have been drawn. Participants must confirm that they have not previously received any inheritances or gifts of more than 3,000 euros. The money is not paid out immediately, but must first be invested for three years. After this grace period, the recipients can use it as they wish.
Financing and conditions
Funding for the project is secured for 2024 and 2025. The draw for the cities will take place on July 7, 2024, followed by public draws in the three selected cities in autumn 2024. Participants must be present in person to receive the basic heritage. In addition, the winners commit to giving an interview about the impact of the basic heritage once a year for one hour.
Costs and long-term plans
According to the German Institute for Economic Research, a comprehensive basic inheritance for all 30-year-olds in Germany would cost around 15 billion euros per year. This could be financed through an additional levy on large inheritances, with around five percent of the annual inheritance being sufficient for this.
