International Estate and International Succession Planning
If you search for a lawyer for international inheritance law who can consult you on inheriting abroad and on estates with connections to a foreign country, you just found one – our specialist law firm for inheritance law.
Dr. Hosser is an expert for international inheritance law and not only German attorney-at-law and German specialist lawyer for inheritance and for tax law. In addition, he is – as registered Trust and Estate Practitioner and full member of the international association Society of Trust and Estate Practitioners (STEP Ltd.) – experienced in international succession cases and in international succession planning.
It is very important to get consultation from an experienced lawyer in international inheritance law like Dr. Marcus Hosser, when it comes to inheritances abroad or estates involving a foreign country and to the planning of an international succession.
The nationality of a deceased alone is not decisive for a possible consultation need regarding an international succession planning. A German citizen with real estate abroad, for example, is in touch with a different legal system. There are many other examples.
The international succession planning and the settlement of an international estate are the specialties of our law firm. Most cases deal with inheriting abroad, i.e. with acquiring foreign assets as part of an inheritance abroad, or with foreign estates for acquirers in Germany.
Does every foreign aspect require an international succession planning?
Foreign dimensions can occur in multiple ways. As a matter of fact, for most of them a professional succession planning should be made, for example in the case of a domicile, of assets or a permanent residence abroad.
An international succession planning is strongly recommended and will facilitate, accelerate and cheapen the settlement of an inheritance abroad or for a deceased with last residence abroad, for example in the case of:
- a holiday home or other real property in France, Spain, the USA or even Asia,
- a foreign nationality of the deceased, his spouse or the future acquirer of assets by way of death,
- a long stay abroad, for example the secondment of employees abroad,
- a move of the deceased and his family to a foreign country, and
- a foreign residence of possible acquirers by way of death.
Which Peculiarities occur with an International Inheritance?
Inheriting abroad often underlies foreign law with its own characteristics.
In the settlement of an international inheritance you should always seek consultation and assistance from experienced professionals like us. Benefit from our know-how, our practical experience and support, for example if the deceased
- bequeathed real estate abroad, among others because of issues due to foreign real estate law,
- lived abroad for a longer time or became a foreign national,
- owned foreign accounts or other assets abroad.
We consult you, among others, on international inheritance law and international tax law.
We often receive inquiries from stakeholders of an international estate settlement if we can also attend to an international inheritance certificate.
However, there is no such thing as an international inheritance certificate with which one could settle an inheritance anywhere in the world and abroad. The German certificate of inheritance is only accepted in a few countries. In most foreign states, the German certificate of inheritance cannot be used as a kind of international certificate of inheritance. Foreign banks, for example, do not accept it so that it is not possible to dispose of foreign bank assets on the basis of the German certificate of inheritance.
Do International Succession Cases Involve Tax-related Peculiarities?
Yes, international succession cases involve many tax-related peculiarities. In general, there is the risk of a possible double taxation, when parts of an inheritance are taxed in each of the countries involved, i.e. taxed several times.
Double taxation agreements and regulations of the national tax law of the countries involved, for example on a so-called tax credit, try to solve or at least alleviate this problem.
For the tax settlement, even the habitual residence of the deceased or of one of the acquirers may become relevant.
The details involved are hardly or not at all comprehensible for tax law laypersons.
Was does „International Inheritance Law” mean?
The internal inheritance law is important for both, the international inheritance and the international last will and testament.
The international inheritance law regulates which inheritance law will be applied to the legal succession by way of death. This legal question can be answered in different ways, depending on which perspective of which legal system it is asked.
Specialist lawyer for inheritance law Dr. Hosser has, among others, a focus on the international inheritance law. From the perspective of the German law, the European Succession Regulation defines which inheritance law will be applicable, depending on the last habitual residence and subject to a choice of law which the deceased made in a formally valid last will and testament, supposed the concrete choice of law was permissable.
