Are Children Legally Responsible for Parents' Debt in Germany?
Discover if children in Germany are liable for their parents' debts and what steps they can take in case of inheritance.
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In Germany, children are generally not responsible for their parents' debt. However, if they inherit assets, they may become liable to pay off any outstanding debts from the estate. To avoid this, heirs can renounce the inheritance within six weeks of becoming aware of it.
FAQs & Answers
- Can children inherit debt from their parents? In Germany, children do not automatically inherit their parents' debts, but they may be liable for debts if they accept an inheritance.
- What happens if I renounce an inheritance in Germany? Renouncing an inheritance means you will not receive any assets or liabilities from the estate, effectively avoiding debt responsibilities.
- How long do heirs have to renounce an inheritance in Germany? Heirs have six weeks from the time they learn about the inheritance to officially renounce it.