Of course, there are more pleasant things than worrying about one’s own death or that of a close relative.
Although this issue affects us all, it is understandable that planning one’s personal estate and inheritance early on remains a taboo subject for many people.
However, sudden events such as a serious illness or even death can leave heirs facing a shambles if they have not begun preparing a well-thought-out estate plan in a timely manner.
Planning for estate succession early on and in a structured manner while you are still alive safeguards your chosen heirs, protects the family wealth you have built up, provides planning certainty for everyone involved, and minimizes the inheritance tax payable upon your death.
The experts at Trimborn . Partner can assist you with planning your estate succession, drafting tax-optimized wills, or implementing measures related to anticipated succession.
Hardly any other type of tax in Germany has such high tax rates and such complex exemption rules as the inheritance and gift tax.
Unfortunately, however, tax novices often make simple mistakes when preparing the relevant inheritance tax return.
As a result, in many cases, people end up paying too much in taxes.
The team at Trimborn . Partner can assist you in preparing an inheritance tax return or gift tax return, as well as any necessary statements of fair market value required to determine the value of real estate and business assets.
We don’t just focus on ensuring your tax returns are technically correct. Our tax advisors in Oberhausen and Düsseldorf will also advise you on which deductions you can claim to reduce your tax liability, or whether, for example, obtaining an expert appraisal—despite the associated costs—is more cost-effective than using a property value determined according to standard tax valuation methods.
In particular, the legal regulations governing the determination of property values for owner-occupied or rented apartments, houses, and other real estate have become increasingly complex in recent years.
Unfortunately, without professional assistance, errors often occur during the valuation process, which can result in a significant increase in tax liability. We have a thorough understanding of tax valuation methods (comparable sales approach, income approach, cost approach, etc.) and would be happy to assist you with this complex tax matter.
