German Inheritance Tax, known as "Erbschaftsteuer," is a crucial consideration for those who are recipients of German assets due to a person's passing. This tax, specific to Germany, is applicable to individuals receiving inheritances, whether they are legal heirs,...
Trust, Estate Planning, and Probate
Navigating Cross-Border Inheritance: Urban Thier & Federer’s Expertise Unveiled
In a globalized world, the intersection of legal systems can be intricate, especially when it comes to inheritance matters spanning across countries. For the past two decades, , a well known German-American law firm with offices in the U.S....
Inheriting in Germany as a Foreigner: A Guide to the Unique Process
Inheriting assets in a foreign country can be both a complex and emotional experience. Germany, with its robust legal framework and specific regulations, has a particular process for foreigners inheriting assets within its borders. In this blog, we'll delve into how...
A handy checklist for estate planning guidelines
At some point, estate planning becomes essential for most adults. The process differs among individuals depending upon such factors as having children, owning a business and wanting to pass on a legacy. Many of the steps, though, remain true for most people looking to...
How a special needs trust can benefit your child’s future
Caring for your child with special needs may extend throughout your adulthood. When parenting a child with special needs, there is a high probability he or she may outlive you. If you are your child's caregiver, you have to make decisions on behalf of your kid's...
Do you need a succession plan and an estate plan?
A succession plan gives you leverage to control the leadership strategy of your company. An estate plan allows you to clarify the distribution and use of your hard-earned assets. Both resources can provide critical support as you plan for your future. Coordinating...
What are the specific grounds for contesting a will?
When a person dies, his or her last will and testament helps survivors to determine what to do with the deceased person’s belongings. In some cases, survivors may not agree with what was written in the deceased person's will. New York and other states provide...
What are some common estate planning errors?
Putting an estate plan together often involves careful attention to detail. Even slight mistakes could cause problems for beneficiaries if the documents lack clarity. Some issues could even render a will or health care proxy invalid under New York law. It helps anyone...
The elements of a valid will
If you had been living in New York at the time of your death, your estate will likely be bound by its probate laws. Generally speaking, the state will consider a will to be valid if it is signed and dated by the testator. Furthermore, it must be signed by two...
Estate planning with adult children in mind
When people in New York, Florida and Germany, among other locations, are preparing an estate plan, they may want to think about how an inheritance will affect their adult children. Talking openly to their children ahead of time about the plan may be the best method...