Gifts to German residents. 14 June 2022
When US families wish to leave property to residents of Germany, advance planning can help to prevent unnecessary taxation in Germany. Germany has both a gift tax and an inheritance tax, and each tax can apply based on the recipient’s residence in Germany. When a German resident receives property through a trust, the transfer may be taxed differently as an inheritance or lifetime gift. A basic understanding of the potential pitfalls and planning opportunities can help us to advise our clients when they want to make gifts to residents of Germany.
- Jan-Hendrik Frank, TEP, Rechtsanwalt, Fachanwalt fur Erbrecht
Jan-Hendrik Frank, a partner at WF Frank & Partner, advises clients with connections to Germany in probate and estate planning matters. He has a special focus on German-American estate planning and frequently advises US persons with beneficiaries in Germany. He regularly writes for German law journals and treatises regarding US trust and estate laws. https://www.wf-frank.com/publikationen/lawyer/jan-hendrik-frank-1113.html
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