Gifts to German residents. 14 June 2022 (Host: STEP Boston)

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.

Speaker: Jan-Hendrik Frank, TEP, Rechtsanwalt, Fachanwalt fur Erbrecht