Estate planning

In Estate Planning, the art is combining the many subject areas so that your wishes are realised correctly.

Below you can read which subject areas play a role in Estate Planning advice.

Marriage/co-habiting

You are going to move in together. Is it wise to do this being married? In that case, your spouse is an heir. A co-habiting partner is not. The term ‘partnership’ also has a different meaning for income tax and inheritance tax. Do you want to be eligible for exemptions or rather not? It is wise to think about this in advance.

It is also important to ensure that the arrangements in your cohabitation agreement or prenuptial agreement are not at odds with the wishes in your will and vice versa.

Will

A properly constructed will is flexible. Your will must, if you so desire, be flexible on your death. That is why the actual estate planning only starts on death. We will advise you on all facets to be included in a will, such as shares in the estate, legacies, interest clause, administration, guardianship, appointment of executors.

Living will

Have you ever thought about what happens if you are unable to (temporarily) make your intentions known? If you are diagnosed with Alzheimer's for example, or are in a coma after an accident? An administrator, mentor or trustee appointed by the court must then take decisions on your behalf.

But you can also be in control yourself. You can do this by appointing and authorising someone in advance. You can then indicate your wishes. This can relate to financial, medical and property issues. Such a living will applies to all of us, young or old.

Gifts

You can make gifts on death but also whilst you are still alive. With the latter you could save future inheritance tax and you will be able to see your children enjoy the gifts. However, what if you do not want to see the money being wasted or you do not want to gift it definitely?

An administration regime, revocable gifting, a resolutive condition or gift on paper can then be an alternative. It is also important to be aware of exemptions and the income-tax bands. Tax saving is an important aspect of estate planning. Make sure your gifts are not at odds with your will or frustrate your children’s interest relief. Let us advise you.

Alicia Keijzer

Alicia Keijzer

Adviseur
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