People in Saxony are leaving less in their estates: 571 million euros from estates

The value of assets left through inheritances has continued to decline in Saxony. According to the State Statistical Office, 571 million euros were bequeathed last year. The previous year, the figure was 609 million euros. In most cases last year, the assets consisted of bank deposits (39 percent). Securities accounted for 22 percent, and real estate for 29 percent. The Saxon tax authorities assessed approximately 77.4 million euros in taxes on inheritances and gifts.

According to the State Statistical Office, taxes on inheritances and gifts benefit the state budget exclusively. However, most inheritances and gifts are tax-exempt due to high exemption thresholds and are not included in the statistics on inheritance and gift taxes.