Estate Planning is, in short, the tax and legal optimisation of the transfer of your assets during your lifetime or upon death. Estate Planning can relate to both your business assets and your private assets, located both in the Netherlands and abroad. The fiscal and legal design of your prenuptial agreement, partnership agreement or cohabitation agreement is also part of your Estate Planning, as is the (fiscal) settlement of an unexpected divorce.
Estate planning often gets little to no consideration because generally people do not like to think about the possibility of a divorce or their death. By organising your Estate Planning, you ensure that financial and legal matters around your assets are properly regulated in the future. For yourself and for future inheritors. This can give you, and your inheritors, peace of mind. Organising your Estate Planning contributes to the preservation of your family’s capital, as for the next generations.
Needless to say, major life events such as marriage, having children, illness or death and emigration are moments to reflect on your Estate Planning. At an earlier stage when significant changes in the size or composition of your assets occur, such as restructuring your business assets, you should have your Estate Planning reviewed. The specialists at HVK Stevens can review whether your estate planning is still optimally designed from a tax and legal perspective and whether it still meets your current wishes.
By organising your Estate Planning, you can achieve the following benefits for yourself, your partner and your inheritors (OF: heirs):
By transferring assets to the next generation(s) during your lifetime, you can save gift tax and inheritance tax by making optimal use of exemptions and tariff progression. Besides the fact that the assets are already growing by the next generation. The growth of this capital will once again save gift and inheritance tax, but possibly income tax on a substantial shareholding claim of your company as well.
Assets that are not distributed on the basis of the prenuptial agreement, partnership agreement or cohabitation agreement and that you have not already transferred in life, will be part of your estate. If at the time of your death you are considered a tax resident of the Netherlands, your estate will in principle be subject to Dutch inheritance tax. In a will, you can determine to whom this capital should accrue. You can also include certain conditions so that assets remain within the family and conditions are attached to the use of these assets. You and your partners will can also significantly save on inheritance tax, by designing the will in such a way that the assets of the surviving spouse are fiscally eroded and inheritance tax is saved over two deaths (of you and your partner). If you are interested, we can outline these possibilities for you.
If you get married, enter into a registered partnership or start living together, you can make arrangements in a prenuptial agreement, a partnership agreement and also in a cohabitation agreement about, among other things, joint assets, settlement of income and assets and costs of household. These agreements can have major consequences for your (family) assets and for your business. We are able to advise you fiscally and legally on the content and by doing so we help you optimise your prenuptial agreement, partnership agreement and/or cohabitation contract. We outline the various possibilities of, among others, limited and general matrimonial property regimes and final and periodic settlement clauses. The provisions in the prenuptial agreement, partnership agreement or cohabitation agreement are relevant in the event of a divorce but also in the event of your or your partner’s death. These provisions determine the calculation of the size of your ultimate estate. With the right set-up, inheritance tax can be saved. In the case of blended families, where you do not want to disadvantage your children but do want to leave your current partner well looked after, the prenuptial agreement is particularly relevant. The prenuptial agreement also affects the size of the legitimate portion of your children.
Even during your marriage, partnership or cohabitation you can always adjust these provisions and optimise them fiscally and legally. After a restructuring, it is important to ensure that your prenuptial agreement matches your corporate structure and other assets. This is among other thigs, relevant to the application of the fiscal business succession facilities.
HVK Stevens understands that your Estate Planning is a delicate subject where many difficult choices have to be made and emotions are involved. We outline the possibilities and provide insight into the legal and fiscal consequences of your choices, in order for you to make well-informed decisions. With an eye for family relationships, we guide you through the steps to be taken and the choices to be made. Your specific wishes are key to this. We do not lose sight of the fact that our advice must also be robust, explainable and workable for your heirs. HVK Stevens has thorough tax and notarial knowledge and extensive experience in national and international estate planning. Thereby, HVK Stevens is experienced in asset protection, privacy structures and advising companies. All combined we look beyond your estate planning and advise you on the entire scope.
In addition to fiscal and legal optimisation, we focus on your personal wishes, such as keeping family assets together, maintaining control over assets after a transfer, ensuring that the assets remain in the direct family (excluding “in-laws”). For example, we can build in the possibility of revoking a gift if you so desire.
By arranging your Estate Planning properly during your lifetime, your children can already benefit from the family assets and learn how to deal with this responsibly.
Because of our multidisciplinary teams, our Estate Planning services include tax and legal advice, as well as the notarial implementation of this advice and the annual maintenance and compliance obligations such as tax returns. We also regularly work together with other professionals, such as your private banker, divorce lawyer, in-house notary or lawyer, tax consultant or family office.
Activities we can be of service to you, include:
HVK Stevens professionals have legal, tax and financial knowledge and experience