Concerns about a reduction in the U.S. Estate and Gift Tax exclusions? Make a gift now to benefit from historical exclusion levels.

The U.S. Treasury provided clarity for estate planners and their clients by issuing regulations that confirm that individuals who make gifts now...

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The Curtailing of Stretch IRAs

Effective January 1, 2020, the use of IRAs as an instrument for passing a stream of income tax free or tax deferred withdrawals will be limited to ten...

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German Gift Tax on Distributions from a U.S. Trust to a German resident Subsequent to an Election under Art. 12 para 3 of the Germany-U.S. Estate and Gift Tax Treaty

On March 6, 2019 the Ministry of Finance of Brandenburg published a binding decision on the taxation of distributions from a U.S. trust subsequent to...

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German Federal Fiscal Court Ruling on Taxation of Distributions from a Foreign Family Foundation and a Foreign Trust

In its decision dated July 3, 2019, the German Federal Fiscal Court (Bundesfinanzhof) held that distributions from a foreign family foundation...

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German Inheritance Tax: Personal Tax-free Exemptions 2019

Personal Tax-free Exemption for 2019

The personal tax-free exemption (Freibetrag) depends on the familial relationship between deceased and...

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German Inheritance Tax Rates 2019

The German inheritance tax rates depend on a) the tax class and b) the value of the taxable acquisition of the beneficiary.

Determination of the...

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Taxation of Distributions from an 401(k) to an individual Resident in Germany

In its decision dated August 9, 2018, the Fiscal Court of Cologne (Finanzgericht Köln) held that for German residents taxation should be limited to...

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Estate Tax: Effect of the Tax Cut and Jobs Act on German Domiciliaries

On December 22, 2017, Public Law 115‑97 ("Tax Cuts and Jobs Act") was enacted. Sec. 11061 of the Act more than doubles the estate and gift tax...

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U.S. Tax Court: German Who Gave Up U.S. Residency Liable for Exit Tax

The case involved a German national, Mr. Topsnik. Mr. Topsnik was born in Germany and moved to the U.S. obtaining a green card and residency status in...

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