Advice on taxation of an inheritance from a U.S. estate or trust in Germany
Although we do not offer ongoing or comprehensive advice on income tax, we do not leave our clients alone with regard to the consequences of inheritance for income tax. Our services include, for example
- Obtaining the necessary documents for the declaration of German income tax, in particular with if the estate included securities, bonds or mutual funds;
- Advice on the income tax consequences of a death benefit from pension schemes or retirement account;
- Advice on the taxation of the estate's current income (dividends, interest, rents, gains from the sale of securities);
- Advice on tax-optimezed allocation of estate or trust assets if not all beneficiaries reside in the U.S.;
- Advice on avoiding double taxation and exercising tax election rights (e.g. under IRC §§ 661 seq.).
On request, we can assist your personal tax advisor with the declaration of income tax or a declaration for the separate assessment of the tax bases of a foreign estate or draft such a declaration.
Do You have any Questions?
We look forward to assisting you. For the sake of simplicity and efficiency, we request that you use our contact form for your inquiry and describe the matter as clearly as possible. In addition, you can include relevant attachments. After submitting your inquiry, we will contact you either by telephone or e-mail within 2 working days. If we can assist, we will suggest a time and date for an initial consultation. Of course, you can also contact this firm or a particular attorney directly to make an appointment for a personal consultation or telephone consultation (find contact details here). Please be advised that no attorney-client relationship is created by sending us an email or filling out this contact form. For information on our fees, please click here.
Upon request, we offer consultation via Zoom. For general information on how to join an instant meeting through an email invite, please visit the Zoom website.
News
- Germany: Amendment to the Rules on the Taxation of Lifetime Benefits from Foreign tax-priviledged Retirement Assets
- Tax Court of Münster: Distributions upon the Termination of a Trust may be Subject to German Income Tax
- BFH: The Treaty does not prevent Germany from imposing Inheritance Tax on the Acquisition of a U.S. citizen beneficiary resident of Germany even if he has stayed no longer than 10 years in Germany
- German Federal Fiscal Court Ruling on Gift Tax triggered by Distributions from a Foreign Trust
- 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
- Decicison of the German Federal Fiscal Court on the Taxation of Distributions from a 401(k) to Beneficiary in Germany