How can I plan and secure my international inheritance law?
October 11, 2022 | 50,00 EUR | answered by Gerald Endres
Dear International Law Attorney,
I am reaching out to you because I am unsure of how to best plan and secure my international inheritance law. My situation is as follows: I am a German citizen, but have been living in the United States for many years. My assets are distributed in both Germany and the USA. I have children who also hold dual citizenship.
My concerns lie in the fact that inheritance laws in Germany and the USA are different, and I fear that there may be complications in the event of my death. I want to ensure that my assets are inherited according to my wishes and not based on legal provisions. Additionally, I want to avoid any disputes among my heirs.
Therefore, I would like to know from you what options there are to effectively plan and secure my international inheritance law. Are there any specific contracts or documents that I should have created? How can I ensure that my heirs in both Germany and the USA have seamless access to my assets? What tax aspects should I consider?
I would be very grateful if you could provide me with specific recommendations on how to handle my international inheritance matters in order to avoid potential issues in the future.
Sincerely,
Siegfried Kock
Dear Mr. Kock,
Thank you for your inquiry regarding the planning and securing of your international inheritance law. It is understandable that you are concerned, especially due to the different inheritance laws in Germany and the USA. It is important that you take measures early on to ensure that your assets are inherited according to your wishes and to avoid disputes among your heirs.
In your situation, as a German citizen living in the USA with assets in both countries, there are various ways to plan and secure your international inheritance law. One important measure is the creation of an international will. In such a will, you can specify exactly how your assets should be divided and which heirs should receive which share. An internationally valid will should take into account the respective inheritance laws in both Germany and the USA. It is advisable to seek advice from a specialized lawyer in international inheritance law to ensure that all relevant aspects are considered.
In addition to creating an international will, other legal documents such as powers of attorney, advance directives, or living wills may also be useful to ensure that your wishes are respected in case of illness or accident and that your assets are properly managed.
In terms of tax aspects, you should also inform yourself in a timely manner. There are specific regulations regarding inheritance tax in Germany and the USA that need to be considered to avoid double taxation. A tax advisor can assist you with this.
Overall, it is advisable to take proactive steps and seek professional advice to effectively plan and secure your international inheritance law. This way, you can ensure that your assets are inherited according to your wishes and avoid potential issues in the future.
I hope this information is helpful to you. If you have any further questions or would like a personal consultation, I am at your disposal.
Sincerely,
Gerald Endres
Lawyer for International Law
