25 June 2019
A gift is an important technique in a balanced estate planning
Should you, within the framework of your estate planning, wish to make a donation, then it is crucial that this is executed in a correct and legally safe manner.
With attention to tax matters
By making a gift, you transfer a part of your estate during your lifetime. And the more you reduce the assets you will leave at the time of your death, the less inheritance tax will be due. Moreover, the rates of the gift tax are far more advantageous than the inheritance tax rates. Under certain conditions no gift tax is due at all. The WAP advisor masters these rules like no other.
While retaining a certain control
If you wish to retain a certain control on the assets you plan to give, it is possible to attach the necessary conditions to the gift.
For instance, a provision can be made that your children cannot alienate the gifted assets without your consent. Or you could consider retaining the usufruct on the donated assets, which allows you to continue managing these goods and enjoying their revenues.
Another option would be to contribute the assets to a Civil law partnership and subsequently donate the parts of the Civil law partnership to your children. This way you can retain a wide range of control options.
And retaining income
Do you perhaps wish to continue enjoying an (limited) income from the gifted money and/or securities? That can be arranged by attaching an annuity to the gift or by retaining the usufruct.
With extensive service and support
For a great deal of gifts, your WAP advisor and your private banker can fully accompany you in the execution of the gift.
Should the intervention of a notary public be necessary or desirable, the WAP advisor can equally support you by giving the notary the necessary instructions, reviewing the draft deed and making any appropriate recommendations, etc.