Property succession plays an important role in many families. The focus is usually on the transfer of business and real estate assets to the next generation, such as the children or grandchildren. However, parents should keep an eye on the gift tax, because especially for larger assets, the allowances are rarely sufficient. At this point, detailed planning and contract drafting is required to skilfully avoid possible tax pitfalls!
We show some of the most common ways of wealth succession in the family and how the implementation can take place in practice!
1st succession of wealth in the family: background to careful planning
If assets change ownership, various taxes may arise. Relevant here are in particular:
This article does not replace tax or legal advice in an individual case. Facts, current law, jurisdiction, documentation and implementation remain decisive.