Joint wills and testamentary contracts are recognized testamentary dispositions in Germany, beyond the individual will.
Disclaiming a German inheritance.
In Germany there is no estate tax levied on the entire estate as such. If the decedent was a resident of Germany or if the assets are located in Germany, even foreign beneficiaries have to pay inheritance taxes in Germany (“Erbschaftsteuern”). However, each beneficiary has to pay an inheritance tax to the German government on … Continue reading Inheritance Taxes under German Law
The interest in a German estate can either be in form of a bequest ("Vermächtnis") or an inheritance ("Erbe", "Erbschaft"). A bequest ("Vermächtnis") relates to a specific item or a specific amount of money. By contrast, an inheritance means that the beneficiary is either the sole heir or part of a community of heirs ("Erbengemeinschaft") … Continue reading A Bequest vs an Inheritance under German Law