For more than 10 years, the yields of life insurance policies have been suffering from the low capital market interest rates. As a result, reductions of up to more than 30 % compared to the expectations raised until the turn of the millennium are the rule. However, customers with terminated or expired contracts have been […]
The Regional Court of Stuttgart (Stuttgart Regional Court, ruling of 20 December 2017, file no. 16 O 157/17) ordered an insurer (VR) to pay the policyholder (VN) of a life insurance policy (KLV) the “valuation reserves (profit participation) that were eliminated as of the reporting date 1 November 2014”. The contract for the KLV […]
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Why the objection by a lawyer against the assessment is often worthwhile ? According to expert experience, the probability that the tax office will overestimate the value of a property from its desk is up to 80%. In individual cases, the value is then overestimated by up to more than 50% from the office. This […]
by Johannes Fiala, Lawyer (Munich), M.B.A. (Univ.Wales), M.M. (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Banker (www.fiala.de) IDW criticises unrealistic balance sheet approach The renowned Institute of Auditors (IDW) puts it in a nutshell in its press release of 16.01.2006: ?deficits in the current regulations ? The fiscal default of 6% leads […]
IDW criticizes unrealistic balance sheet approach The renowned Institut der Wirtschaftsprüfer (IDW) puts it in a nutshell in its press release of 16.01.2006: “Deficiencies in the current regulations – The tax requirement of 6% thus results in a provisioning approach that is too low. Similarly, Section 6a of the Income Tax Act prohibits the […]
Diversification: How to safeguard assets in the long term For those who handle their assets responsibly, risk diversification is a must. Not only since the financial crisis of 2008, the real estate crisis or the last oil crisis, we are aware that our assets and savings in the savings account are not necessarily safe. World […]
Inflation and its prospects Things look bleak, and not just at the supermarket checkout and gas station. With a current inflation rate of over 7.3%, we can practically watch our hard-saved wealth shrink. What was a small luxury yesterday can be prohibitively expensive today. After more than two years of a pandemic, a European conflict […]
How to protect your assets from gift tax First of all, it is important to clarify the question of why such a bizarre-sounding tax as the gift tax is actually levied in Germany. The widespread belief that one can freely dispose of one’s own property and private assets, which have already been severely affected by […]
