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Inheriting weak euros
Mikedz
Posts: 4 Newbie
in Cutting tax
Hi,
I believe I will shortly be inheriting around €40,000 from a deceased relative in Germany.
With the euro so weak at the moment I could be getting significantly less than a year ago once exchanged. If I can wait a year and gamble on the euro going back up, how can I receive my inheritance in euros and keep it in euros until a better exchange rate comes along?
Thanks
Mike
I believe I will shortly be inheriting around €40,000 from a deceased relative in Germany.
With the euro so weak at the moment I could be getting significantly less than a year ago once exchanged. If I can wait a year and gamble on the euro going back up, how can I receive my inheritance in euros and keep it in euros until a better exchange rate comes along?
Thanks
Mike
0
Comments
-
Apologies, i wasn't sure what forum to post in.
I think a euro bank account would suit me best, didn't know you could open one in the UK. I see that Citibank have a multiple currency product but it's £25pm if you have less than £75,000 in the account.
Any recommendations for a UK euro account?0 -
Would it be an option to retain the propery and sell at a later date?
Alternatively you could open a bank account in Germany? https://www.deutscheskonto.org/en/open-bank-account-germany/I'm a rather elderly retired IFA who used to present IHT seminars for many years on Inheritance Tax, Wills and Trusts. I cannot and will not offer advice now, but my comments here and on Legal Beagles as Sam101 are just meant to be helpful. Do ask questions from all the Members who are here to help.0
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