What role does the will play in inheritance tax?
January 14, 2023 | 45,00 EUR | answered by Wilhelm Ackermann
Dear tax advisor,
My name is Chloé Kieselbach and I am facing a complex situation related to inheritance tax. My father recently passed away and left a will dividing his wealth. I am one of the main heirs and I am wondering what role the will plays in the calculation of inheritance tax.
In my father's will, there are other heirs named besides me, including my siblings and distant relatives. There are a variety of assets, such as real estate, securities, and cash. I am concerned that the distribution of the assets according to the will could lead to a high inheritance tax burden.
I have heard that inheritance tax varies depending on the degree of relationship and the amount of the inheritance. How does the will affect this? Are there ways to minimize the inheritance tax burden through clever testamentary provisions? What role does the valuation of assets in the will play in inheritance tax?
I am looking for professional advice to optimize my inheritance from a tax perspective and avoid potential tax payments. Can you help me understand the tax implications of the will and provide solutions to reduce the inheritance tax burden?
Thank you in advance for your support and expertise.
Sincerely,
Chloé Kieselbach
Dear Mrs. Kieselbach,
Thank you for your inquiry regarding inheritance tax in connection with your late father's will. My name is Wilhelm Ackermann and I am an experienced tax advisor specializing in inheritance tax. I am happy to offer you my expertise to answer your questions and assist you in tax-efficiently structuring your inheritance.
Your father's will indeed plays an important role in calculating inheritance tax. In a will, the deceased determines who should inherit which assets, and can also consider tax aspects to minimize the tax burden for the heirs. In the case of a testamentary distribution of assets, there may be opportunities to reduce the inheritance tax burden.
The amount of inheritance tax depends, among other things, on the degree of relationship between the deceased and the heirs. The closer the relationship, the lower the tax rates usually are. Additionally, the value of the inheritance plays a role in the tax calculation. Through clever testamentary provisions, certain tax-free allowances can be utilized to minimize the tax burden. The valuation of assets in the will is also important, as it forms the basis for calculating inheritance tax.
To understand the tax implications of the will and find solutions to reduce the inheritance tax burden, it is advisable to seek advice from a professional tax advisor. Together, we can analyze your will, examine tax optimization possibilities, and develop a strategy tailored to your individual situation.
I am available to answer your questions and support you in tax-efficiently structuring your inheritance. Please feel free to contact me for an online consultation to discuss your concerns in detail.
Best regards,
Wilhelm Ackermann
