German Federal Civil Court: Application of English law can violate the German Public Policy

In its judgment of June 29, 2022 (Case No. IV ZR 110/21), the Federal Court of Justice as upheld the decision of the Cologne Court of Appeal, which...

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German Federal Fiscal Court Ruling on Gift Tax triggered by Distributions from a Foreign Trust

In its decision dated June 25, 2022, file no. II R 31/19 the German Federal Fiscal Court (Bundesfinanzhof) held that distributions from a Foreign pool...

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German Federal Fiscal Court: Assets titled in Trust to which the Grantor has reserved comprehensive Powers are to be considered owned by him for German Inheritance and Gift Tax Purposes

The German Federal Fiscal Court (Bundesfinanzhof) has held in its judgment of June 25, 2021, file number II R 13/19, that assets in a trust to which...

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Cologne Court of Appeal: Application of English law can violate the German Public Policy

The Cologne Court of Appeal has held in its judgment of April 22, 2021, file no. 24 U 77/20, that English law regarding the forced share is not...

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Decicison of the German Federal Fiscal Court on the Taxation of Distributions from a 401(k) to Beneficiary in Germany

1) Distributions from a 401(k) are other income pursuant to Section 22 No. 5 Sentence 1 of the German Income Tax Act (Einkommensteuergesetz, EStG).

2...

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Germany: Applicable laws as regards to ordering and supervision of a curator of the estate

(1) German courts have jurisdiction to order the curatorship of the estate of assets located in Germany of a testator who died with his last habitual...

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German Inheritance Tax: Tax-free Exemptions in 2021

Personal Tax-free Exemption for 2021

The personal tax-free exemption (Freibetrag) depends on the familial relationship between deceased and...

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Concerns about a reduction in the U.S. Estate and Gift Tax exclusions? Make a gift now to benefit from historical exclusion levels.

The U.S. Treasury provided clarity for estate planners and their clients by issuing regulations that confirm that individuals who make gifts now...

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The Curtailing of Stretch IRAs

Effective January 1, 2020, the use of IRAs as an instrument for passing a stream of income tax free or tax deferred withdrawals will be limited to ten...

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German Gift Tax on Distributions from a U.S. Trust to a German resident Subsequent to an Election under Art. 12 para 3 of the Germany-U.S. Estate and Gift Tax Treaty

On March 6, 2019 the Ministry of Finance of Brandenburg published a binding decision on the taxation of distributions from a U.S. trust subsequent to...

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