tag: inheritance

It is well known that inheritance between direct relatives is tax-free in Hungary, meaning that no public charges have to be paid when inheriting from one’s parents. However, the situation becomes more complicated when there is an international element to the inheritance: either the children live abroad or part of the estate is located abroad. In such cases, careful planning is required to ensure that a death does not result in unpleasant tax consequences in addition to its emotional strain.

If somebody dies unexpectedly, it’s not only a terrible loss for the grieving family and friends, but can also be a tragedy for the company of which the deceased was a member. At such times, the company can find itself unable to make decisions, even if the deceased only held a small share in the business. However, solutions do exist to enable the testator not only to make provisions for family members in the event of his or her death, but also to make sure that the company can continue to make decisions.