Tax-friendly 'Friend Inheritance' is a fact
1 min read
On 8 February 2021, the Finance Committee of the Flemish Parliament approved the 'friend inheritance'. From July 2021, testators will be able to leave up to 15.000 euro to friends or distant relatives at the most favourable inheritance tax rate of 3 percent. This measure was part of the Flemish Government Agreement 2019-2024, which intended to introduce an exception measure whereby someone could be designated as a 'best friend'. That person would then pay the more favourable direct-line rate instead of the higher collateral-line rates.
Of course, through insured solutions you can go much further. This can involve an actual gift to a "best friend" for a higher amount (than the 15.000) and/or covering any inheritance tax that may be payable on a gifted amount. There are several solutions for this with which our experts can help you.
Questions about your own situation?
This article is general information. Your adviser will look at what it means for you.