What’s important when you’re transferring your home or giving away stock? Important tips on how to save on gift tax and inheritance tax.
Munich According to estimates, the market value of SAP, Siemens, Deutsche Telekom and Allianz is inherited or given away every year in Germany. Real estate accounts for the bulk of this approximately 400 billion euro fortune. They have increased in value significantly over the past ten years. Depending on the location, a single-family home can be worth over a million euros, not to mention the value of apartment buildings in cities like Munich, Frankfurt or Berlin.
This not only means that heirs and recipients have to pay high taxes, but also that they spend a lot of time with specialist lawyers for inheritance law and notaries beforehand. Because since certain properties have had to be valued according to stricter regulations, it is worth taking a closer look when giving away or inheriting.
The Handelsblatt explains which points owners of real estate and those who will one day have to consider and how other assets such as securities can be passed on tax-free.
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