 After the death of his father in 1170, Bernhard inherited the estates around "Ascaria" (Aschersleben) in the Saxon "Schwabengau" and the adjacent "Gau Serimunt" between the Saale, Mulde, and Elbe rivers in the former Saxon Eastern March.These territories eventually emerged as the nucleus of the Ascanian Principality of Anhalt, named after Anhalt Castle near Harzgerode.When his elder brother Albert died without male issue in 1172, Bernhard also inherited his County of Ballenstedt.