Division of Inheritance in Germany
Division of Inheritance in GermanyUpdated on Tuesday 05th December 2017
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The German Civil Code regulates how assets of a deceased person are distributed between the inheritors. Depending on whether the owner has left a will or not, the division of inheritance can follow different procedures. Our law firm in Germany provides specialized assistance in matters concerning the division of the estate according to the German legislation.
The German legislation on the division of the inheritance
The German Inheritance Law offers the legal framework in which the division of assets can be done. Moreover this act has been elaborated so that the rights of the family to be protected from disinheritance. According to the law, a testator can elaborate a will and decide to whom he desires to leave his properties. However there are also some limitations imposed so that the children of the testator to keep their rights to at least a third of the estate.
Interstate provisions of the Succession Law regulate how German assets are inherited by heirs who live abroad. One or more heirs need to assume the responsibility for the payment of eventual debts and to make sure the distribution of the estate is conducted properly.
One of our German layers can help you determine what steps need to be followed in the division of inheritance in Germany.
More aspects concerning inheritance in Germany
According to the Succession Law, the exact amount which can be claimed by a spouse or a child of the deceased person depends on the structure of the family. For example if a testator is married and has children as well, the spouse and the children must receive equal shares of the estate.
The distributed assets enter in the property of the inheritors who need to contact the authorities in order to pay the inheritance tax. Each beneficiary must check whether he/she is exempted from the tax obligations, that is if the inherited amount remains under a certain limit. For examples spouses do not have to pay an inheritance tax if they inherit less than 500000 euros. However, other more distant relatives have the limit set at 20.000 euros.
Feel free to contact our attorneys in Germany in order to find out more on the division of inheritance in Germany according to the Succession Law.