Family Asset Planning
Transfer your assets in a tax-friendly manner
Who will benefit from your will? Your family or the state? It might sound a little harsh, but if you don’t take care of it yourself you are abandoning it to the law. Inheritance tax can swallow a sizeable chunk of your estate. It can even threaten the future of your business. To settle the huge inheritance tax bill your beneficiaries could end up selling some of the assets you leave them. It doesn’t have to be this way, and there are many options for reducing the amount of inheritance tax.
|| Min. & max. rates
(in direct line /
between spouses and cohabitants)
| Flemish Region
|| 3% - 27%
| Brussels-Capital Region
|| 3% - 30%
| Walloon Region
|| 3% - 30%
Ensure your company's continuity
Building a company is a lifelong endeavour, sometimes spanning several generations. For this reason, its transfer deserves special attention. From a tax and legal point of view, but also as regards the allocation of roles (“leavers”/successors) in the company, the family vision and values, the entry and exit conditions for family members, control, conflict management, etc. You can lay down such family arrangements in a family charter. A family charter might be a useful way, for example, of giving a voice (a valuable share) to non-active members of the family or to the children.
Don’t let a botched transfer endanger the continuity of your company. Think long and hard and take care of the preparations while seeking guidance in the transition to the next generation. Together we will develop a sustainable plan tailored to your personal needs and wishes.
Protect your loved ones. Make sure they are safe.
With a sound plan in place you yourself decide how your estate will be divided and to whom it will be left. Without conflicts afterwards. This plan takes account of your family members and your life’s journey as partners. No children, dependent children, adopted children, children from a previous relationship, disabled children, married, cohabitating... every situation requires a specific approach. However, this is always with a healthy balance between the interests of your (blended) family, the greater family and the company. No cause for concern. Our inheritance planning specialists will find the appropriate solution.
Determine yourself the future of what is dear to you
What about your art collection, or your vintage cars? In principle, your heirs are free to dispose of all the goods you leave. In other words, they can simply sell your collection of valuable objects or family heritage. Perhaps you see things completely differently and want to keep it in the family or entrust it to a museum or use it for another purpose? That’s possible. Together, we will develop a plan tailored to your needs.
Remember your foreign interests
We can help, even if you have links with a foreign country, such as for a real estate asset. Or your spouse or partner’s nationality. Be aware that other countries have their own inheritance, matrimonial assets and capital transfer laws. Your heirs will probably have to pay inheritance tax there too. A little forward planning can greatly simplify the legal aspects of the transfer and save money on inheritance tax. Our experts can also advise you in these matters thanks to our extensive international network.
Review your inheritance plan in good time
Your assets and family situation, as well as the legislation, are constantly changing. It is therefore wise to review your inheritance plan on a regular basis. Avoid surprises and get advice on time. We will be happy to assist you further.
Permanent or temporary arrangement
An inheritance plan need not always contain a permanent arrangement. You might consider a temporary plan or set up a safety net, for the eventuality that you are (possibly unexpectedly) no longer competent to manage your affairs. You can do this through a will, for example, or by setting up a “health and welfare lasting power of attorney”. We will make sure the arrangement is a sound one.
How do we go about it?
Your BDO advisor...
- identifies your personal situation and wishes
- assesses your current context from the legal and tax viewpoint
- develops a tailor-made plan with you
- guarantees objectivity
- draws up all documents, agreements and clauses for you
- guides you step by step in the execution