Preparing International Wills: A Checklist for Clients and their Lawyers

Complete Questionnaire for International Families and Expats who are resident or own Assets in Germany or Austria

If you or your client owns assets in more than one country, or if a beneficiary is resident in another country than the testator, chances are that the executor and/or the beneficiary need to obtain probate in more than one country. Since the EU Succession Regulation neither applies to the United Kingdom nor to Ireland, the option to take out a European Grant does not exist in those cases. Furthermore, the estate may be subject to various inheritance tax regimes.

Therefore, international families and expats should draft their Wills in a way which ensures a smooth transfer of the assets. British or U.S. Wills often create uncertainty in Civil Law Jurisdictions like Germany, Austria, Spain or France. Vice versa, German or French style Wills are often difficult to interpret in regards to the issue of who has become “heir” (Erbe). Thus, in order to avoid legal uncertainties or even disputes between the beneficiaries and executors, the Will should address the probate requirement of all jurisdictions involved. Inter alia, this means to use the specific succession law and probate terminology in the international Will in order to avoid misinterpretation by the probate registrar. There are many “false friends” in international succession law: an executor under English law, for example, is not at all the same as an Austrian “Exekutor”.

There are always more taxes than you think

Also, every testator who finds himself in an international situation should keep in mind the very different inheritance tax regimes of various countries. English solicitors or U.S. lawyers sometimes forget that there may be additional inheritance tax due in the country where the foreign assets are situated or – and this aspect is sometimes overlooked – where an individual beneficiary is resident at the time of the bereavement. While Austria, for example, does not levy inheritance tax at all, countries like Germany and France do tax the individual beneficiary. This is dangerous territory for international succession lawyers. Professional tax and estate planning can often mitigate the overall inheritance tax quite considerably.

Lawyers can create a tailor-made Last Will only if they are fully informed about the testator’s personal situation and his/her objectives. In order to draw up a Last Will that fully meets the clients individual requirements, Graf Partner LLP uses a comprehensive questionnaire and Will preparation checklist (available for download here).  This checklist also helps to facilitate an effective and individual preparation for the personal meeting at the firm.

If you wish to instruct Graf & Partners LLP to draft a Will or to team up with a foreign lawyer to advise in specific areas of German or Austrian law, please feel free to complete the questionnaire and contact our German succession and probate law experts.

German solicitor Bernhard Schmeilzl also conducts inhouse seminars for British and American lawyers and accountants who advise clients with foreign assets or who have family abroad. More on these seminars here: Advising Clients with Assets Abroad

For more information on German-British probate matters and international will preparation see the below posts by the international succession law experts of Graf & Partners LLP:

Or simply click on the “German Probate” section in the right column of this blog.

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The law firm Graf & Partners and its German-English litigation department GP Chambers was established in 2003 and has many years of experience with British-German and US-German probate matters, including the representation of clients in contentious probate matters. If you wish us to advise or represent you in a German or cross border inheritance case please contact German solicitor Bernhard Schmeilzl, LL.M. (Leicester) at +49 941 463 7070.

 

Efficient Transfer of Foreign Assets

Seminar for British Solicitors and UK Accountants who advise Clients with Assets Abroad. Main focus is on Germany, but speakers will also briefly touch upon Austria and Switzerland.

seminar_lyndalesIf you advise clients who own property or other investments abroad, they are not always aware of the fact that this will trigger foreign inheritance taxes and that the executor(s) or beneficiaries will have to go through local probate procedure, which can takes many months and cost many thousands in legal and court fees. Smart Will preparation and other preparatory measures can mitigate costs and speed up foreign probate tremendously.

English Solicitor Stan Harris, OBE and German lawyer Bernhard Schmeilzl, LLM (Leicester) are experienced experts in international succession law, especially British-German probate matters and cross-border inheritance tax issues. On  Thursday, 3 November 2016, they offer a seminar for British lawyers and accountants who advise clients with German assets, bank accounts, stocks and investments. Real life case studies will illustrate how to tackle efficiently tackle probate matters connected to Germany. The topics include:

  • Understanding German Wills and Intestacy Rules
  • Will Preparation for International Families and Expats
  • Making English Wills work in Germany
  • Access Foreign Assets in Germany: is Probate unavoidable?
  • Speed up Probate Procedure
  • Mitigate Inheritance Tax in both Countries

Some sample slides are available here:

German Intestacy Rules Overview Chart

German IHT inheritance tax gift tax chart

For more information on German-British probate matters and international will preparation see the below posts by the international succession law experts of Graf & Partners LLP:

Or simply click on the “German Probate” section in the right column of this blog.

– – – –

The law firm Graf & Partners and its German-English litigation department GP Chambers was established in 2003 and has many years of experience with British-German and US-German probate matters, including the representation of clients in contentious probate matters. If you wish us to advise or represent you in a German or cross border inheritance case please contact German solicitor Bernhard Schmeilzl, LL.M. (Leicester) at +49 941 463 7070.