Business · Economy · 7 hrs ago
Wealthy Germans are gifting assets to children earlier amid tax uncertainty
Some wealthy people in Germany are giving money and property to children during their lifetimes rather than leaving them an inheritance.
This approach has long been used to try to reduce inheritance tax.
Uncertainty about a possible tax reform has made these gifts more popular.
Lawyers say they are increasingly advising on gifts to children who are still minors.
The process can be more complicated than expected, depending on the child’s age and the type of asset.
The key point for families is to consider those complications before making a gift; the source gives no specific next steps.
Wealthy Germans are increasingly giving money and property to the next generation during their lifetimes amid uncertainty about a possible inheritance tax reform.
The trend includes gifts to children and other minors, not only adults.
Kerstin Linder, a specialist lawyer for inheritance and tax law at Heussen, said her firm is currently seeing more gifts to minors.
Such gifts can be more complicated than expected, depending on the children’s ages and the assets involved.
- Who
- Wealthy people in Germany are giving assets to the next generation, including children and minors.
- What
- They are making gifts of money and property during their lifetimes rather than leaving them to be inherited later.
- When
- The trend is currently gaining popularity amid uncertainty about a possible inheritance tax reform.
- Where
- Germany. The article is datelined Frankfurt.
- Why
- Concern about a possible increase in inheritance tax is prompting some wealthy people to make gifts earlier.
This story does not have two clearly opposing sides.
Giving money and property during one’s lifetime has been a strategy for wealthy people seeking to save on inheritance tax.
Uncertainty about a possible inheritance tax reform is making lifetime gifts more popular.
- Law firm
- Heussen
- Specialist lawyer
- Kerstin Linder
- Recipients
- Children and other minors
- Assets
- Money and property
- Reason for increased interest
- Uncertainty about a possible inheritance tax reform
What people are saying
We are currently seeing more gifts to minors