If there are more liabilities than assets, you may want to disclaim your inheritance!
It is possible to renounce the inheritance. If the heir lives in Germany, they have six weeks to do so, but if the heir lives abroad, such as in the United States, the heir will have six months to do so. Renouncing the inheritance may be the right thing to do if the deceased’s liabilities outweigh the deceased’s assets.
It is important to closely examine the financial documents of the deceased in order to make the right decision. Renouncement of the inheritance must undergo formal proceedings.
The heir may either renounce the inheritance in person at a German probate court or the notarization of the disclaimer of inheritance must be performed at a German Consulate and then the disclaimer must be mailed to the German court.
Certificate of inheritance
The German certificate of inheritance (“Erbschein”) is an official certificate with which you prove for instance to banks that you are the rightful heir.
Obtain a certificate of inheritance
The German certificate of inheritance is granted only upon an application in the so-called “Erbscheinsverfahren”.
Contact us with specific questions and schedule your initial consultation today!
German American Law Center PLC
2740 N. Meridian Rd
Sanford, MI 48657
Email: info[at] rechtsanwaelte-attorneys.com