German Inheritance law – succession to liabilities
According to German inheritance law, the inheritance consists of all assets, but also of all liabilities the testator left behind. In other words: you can also inherit debts. And even worse: after the inheritance you are liable for the debts with your own private assets.
This can of course be avoided by either disclaiming the inheritance or by several legal instruments to limit the liability.
This is another reason, why you should consult a competent German lawyer after you got notice that you might have inherited in Germany.
If you have any issue or question in connection with German Inheritance law, you can contact us here. We will assist you in English.