Planning a Transfer of Assets
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Planning a Transfer of Assets
Why You Should Take an Active Role in Planning for the Transfer of Your Assets
Planning ahead for the transfer of an estate while you are alive is an absolute necessity. It is the only way to avoid losing up 50% of your assets to taxation. Make sure your estate is distributed in accordance with your wishes and prevent disputes and infighting in the wake of your passing.
- Avoid losing up to 50% of your estate to taxation
- Prevent inheritance disputes
- Bequeath your assets in accordance with your wishes
- Transfer stewardship while retaining 100% of the fruits of your life's labor
Analysis of the Current Situation / Existing Assets and Interests
The first step is evaluating the current situation. That involves determining what assets are involved and how they should be valued from a tax and legal perspective. Together with you, we then consider your interests, your plans, and the safeguards you need.
- Analysis of the situation
- Identifying your interests
- Determining the security you need
Development of Transfer Concepts
Based on our analysis of your current situation, we propose a plan for the transfer of your assets. The proposal always includes a spectrum of options for you to choose from. We will show you the tax advantages but also the risks presented by each option.
- Establishment of asset management private partnerships
- Retaining parents as estate executors after their children have achieved majority status.
- Partial transfer of assets
- Transfer stewardship while retaining 100% of the fruits of your life's labor
Tax Exemptions to Optimize Wealth Transfer
Gift tax exemptions can be claimed every 10 years. The goal is to arrange the wealth transfer in such a way that inheritance and gift taxes are avoided. Inheritance and gift tax law also provides for various other deductions and exemptions.
- Deductions for owner-occupied homes over 200 square meters
- Deductions for real estate which is rented out
- Exemptions for business assets
- Exemptions for business assets based upon personnel expense ratios
Protections for Benefactors under Inheritance Law/Right of Usufruct/Right of Repurchase
Your financial security is our highest priority. The fear of transferring one’s assets during one’s lifetime and consequently being left impoverished in old age is understandable but needn’t be justified. Done correctly, it can be ensured that you have maximum control over your assets at all times. There are many different tools that can be used for this purpose.
- Right of usufruct to secure revenues
- Lifetime estate to guarantee abode in one's own apartment or house
- Right of repurchase to secure asset management
- Inspection and supervision requirements for companies
Conducting the Transfer
After planning the transfer of assets, we also take care of the execution for you. From the creation of new corporate legal entities, such as (example only) “Smith Family GmbH & Co KG,” to the transfer of assets at the notary office and preparation of gift tax declarations, to the ongoing management of the transferred assets.
- Establishment of "Your-Family-Name" GmbH & Co KG
- Transfer of assets
- Preparation of tax declarations
- Management of transferred assets
The Consulting Services We Offer
Our custom-tailored guidance helps you maximize efficiency while optimizing your tax liability:
- Assessment of the current situation
- Development of potential transfer concepts
- Multi-year tax optimization planning
- Meditation between stakeholders
Advantages
- Utilization of tax exemptions to minimize tax burden
- Maximum security via instruments such as right of usufruct or lifetime estate
- No need to management assets later in life
- Avoid conflict within the family
- Guidance from planning to execution
- Proactive consulting and support from a single provider
- Peace of mind through your golden years
You might also be interested in:
SETTLEMENT OF INHERITANCE
In Germany, inheritances and gifts must always be declared regardless of size. If you have received an inheritance or gift and need to file a tax declaration, we can help you.
BUSINESS SUCCESSION PLANNING
Planning your business’s future early and wisely will allow you to relax and enjoy your retirement later on. After the succession of the company has been arranged and the transition taken care of, you can look to the future with confidence.
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