Offbeat Dispute over inheritance reduces inheritance tax
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If you lose a legal dispute over a supposed part of your inheritance, you can deduct the costs from the rest of your inheritance to reduce your taxes. Even then, these are deductible so-called estate liabilities, as the Federal Finance Court (BFH) in Munich decided in a judgment published on Friday. (Az: II R 29/16)
In the event of a dispute, the childless testator had a rental apartment and extensive securities assets. He also had a valuable porcelain collection, which he donated to a city museum before his death.
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The legacy was taken by a nephew and a niece who also wanted to have the porcelain collection. They said that their uncle was no longer able to do business with the gift, so the city had to give out the china. A lawsuit against the city was lost, however, so that the heirs remained at legal costs of 112,000 euros.
As the BFH now decided, they can deduct these costs from the rest of the inheritance, so that no inheritance tax is due on them. According to the law, costs are deductible that arise directly in connection with the regulation or the acquisition of the estate. This also applies to the attempt to "recover" assets, which ultimately does not belong to the legacy because of the failed process.
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