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  Reporting and declaration obligations Anyone who acquires something from an estate – be they heirs, legatees, or those entitled to a compulsory share – is obligated to notify the tax office within three months of becoming aware of the inheritance. This notification requirement also applies to assets abroad. ” An inheritance tax return is…

  The equalization of gifts and special services among heirs When an estate is divided among children and other legal descendants, gifts or support payments that a testator made to individual children or grandchildren during their lifetime often need to be taken into account. Furthermore, obligations to provide compensation can arise if a descendant has…

A life annuity describes the obligation to provide lifelong in-kind benefits intended to contribute to a person’s physical and personal care. Life annuities play a particularly important role in agricultural transfer agreements, where the transferee assumes the agreed obligations and receives corresponding compensation. The most important points regarding the life annuity: What is meant by…

An inheritance can bring an increase in wealth, but it often also comes with obligations, such as assuming the deceased’s debts. It becomes particularly disadvantageous if the inheritance consists primarily of liabilities. By disclaiming the inheritance, you avoid this burden of debt, but you also forfeit positive assets, your statutory share, and personal mementos like…

The willingness of Germans to leave an inheritance to their descendants has changed significantly in recent years. Today, only 35 percent of those surveyed want to ensure they can pass something on – a marked decline compared to 2017, when almost half of Germans (49 percent) expressed this desire. Instead, there has been a shift…

Digital legacy management remains inadequately addressed. While registering on a platform is usually straightforward, deleting accounts after death is often considerably more complicated. Far too often, a deceased person’s memberships, subscriptions, or online accounts remain active, and fees, contributions, or license costs continue to accrue—costs for which the relatives could ultimately be held liable. In…

Everyone can choose their own heirs. However, if someone dies without a will or inheritance contract, the law determines the order of inheritance. This is frequently the case in Germany: According to a YouGov survey from August 2022, around 66 percent of Germans do not have a will. In approximately two-thirds of all deaths, the…

Many married couples choose the Berlin Testament, but this isn’t always the best solution and can even lead to financial disadvantages. When might the Sylt Testament be the better choice? In most cases, spouses want to ensure that the surviving partner is financially secure. A common method for this is the Berlin Testament, where the…