Succession planning

Does what I want go to whom I want ?

What does succession planning consist of?

The most important thing about succession planning is the outcome – that what I want goes to whom I want. There are a number of steps to follow in order to get to it. First, one needs to identify what falls into my succession. Then, who inherits and how much inheritance tax should be paid.

Depending on my wishes and objectives, possible alternatives and optimisations are then defined and their consequences and results are examined. My choice in this determines which actions are then taken. The various alternatives may lead to different types of gifts, setting up a partnership or a foundation, capital conversion into a patrimony company, contribution of property to the matrimonial community and so on.

This often gives rise to drafting deeds with notaries and management contracts from financial service providers. This is where my planner helps me so that I can be sure these are properly taken care of.

Each step is thoroughly gone through with me so that what I wish goes to whom I wish.

STEP 1. Determine the estate

First, one needs to define the estate components. The various deeds and asset lists are used for that purpose:

Matrimonial contract
Deeds of purchase of real estate
Existing donations (notarised and not)
Last will
Stipulation of accretion/tontine, marital attribution, etc.

The estate is then determined and a valuation is prepared for each item.

STEP 2. Current situation

We then establish who will inherit what, in usufruct, bare or full ownership.

Then we look at who should pay how much inheritance tax.

With that, I know how much the surviving partner will be left with and how much will go to my other heirs.

If necessary, the financial plan is also simulated so as to have an overall picture of the survivor’s situation in terms of income and assets.

We also calculate together the situation of a successive decease for both partners in order to assess the final situation of the heirs.

STEP 3. Optimisation

Finally, we discuss possible optimisations together:

How can I reduce inheritance taxes? What should I do to achieve this?
How to ensure the transfer of wealth the way I want? What should I do to achieve this?
Can I and do I want to make donations already? Can I attach conditions?

Based on my decisions, my/partner’s financial plan is re-simulated so that I can assess all the implications.

Finally, an action plan is drawn up of what needs to be implemented by what time. My planner is happy to follow up that plan with me in detail.

Succession planning is already available from as little as €1,900 (incl. VAT) for an individual and €2,500 (excl. VAT) for a self-employed person, depending on complexity and objectives.

However, an initial introductory meeting is always free of charge and without obligation. At the end of this meeting, a quotation is drawn up, explaining what will be included in the plan and at what price. The prices indicated in the quotation are fixed, unless otherwise stated. Travel expenses and working hours are not charged.