Liberalities

In memoriam donations, often initiated by the family of the deceased, are becoming increasingly popular as an alternative to traditional flowers, in order to respect the last wishes of the deceased and honor his memory. What’s more, it entitles the donor to a tax reduction of 75% of the amount of the donation, up to a maximum of €1,000. Above this ceiling, the tax reduction is 66%, up to a limit of 20% of taxable income.

Beneficiaries of an estate can donate all or part of the inheritance they are about to receive to an association or foundation recognized as being in the public interest. This donation (a sum of money, movable or immovable property) must be made within 12 months of the death of the person from whom they have inherited. With no ceiling on the amount, it entitles the donor to a tax allowance that reduces inheritance costs. While making such a gift is relatively straightforward, it is essential to contact the notary responsible for settling the estate as soon as possible.

In contrast, an inheritance gift does not require the involvement of a notary. It is a classic gift of all or part of an inheritance, and is entitled to the same tax benefits as a gift in memory of a loved one.

In memoriam donations, often initiated by the family of the deceased, are becoming increasingly popular as an alternative to traditional flowers, in order to respect the last wishes of the deceased and honor his memory. What’s more, it entitles the donor to a tax reduction of 75% of the amount of the donation, up to a maximum of €1,000. Above this ceiling, the tax reduction is 66%, up to a limit of 20% of taxable income.

Beneficiaries of an estate can donate all or part of the inheritance they are about to receive to an association or foundation recognized as being in the public interest. This donation (a sum of money, movable or immovable property) must be made within 12 months of the death of the person from whom they have inherited. With no ceiling on the amount, it entitles the donor to a tax allowance that reduces inheritance costs. While making such a gift is relatively straightforward, it is essential to contact the notary responsible for settling the estate as soon as possible.

In contrast, an inheritance gift does not require the involvement of a notary. It is a classic gift of all or part of an inheritance, and is entitled to the same tax benefits as a gift in memory of a loved one.

The law stipulates that a person may not disinherit his or her nearest and dearest in favor of a third party. A minimum share of the inheritance must go to the heirs known as “reservataires”, such as the surviving spouse or descendants. The remaining share, known as the “available portion”, can be passed on to a person of your choice or to an association authorized to receive gift. If you have no children or surviving spouse, you can pass on your entire estate to the latter.

There are various donation channels available, but not all organizations are authorized to receive every type of gift. We recommend contacting the organization you wish to support to learn about the specific procedures that apply. This will help you choose the donation method that best suits you.

Any non-profit organization is allowed to accept gifts in cash or in kind without requiring special authorization. You are therefore free to choose the one(s) that interest you.

A legacy is a means of transmission that becomes effective on the death of the testator, the person making the bequest. Its provisions can be modified or revoked at any time, and can take different legal forms. Depending on the type of bequest, it may concern all or part of the testator’s estate, or a specific asset.

A legacy is a means of transmission that becomes effective on the death of the testator, the person making the bequest. Its provisions can be modified or revoked at any time, and can take different legal forms. Depending on the type of bequest, it may concern all or part of the testator’s estate, or a specific asset.

Inheritance tax may be levied on bequests, both for the natural persons to whom the bequests are made and for the organizations authorized to receive these resources. 

A total exemption applies to bequests to associations recognized as being in the public interest, when the estate includes one of the following:

• Works of art intended to form part of a collection, monuments or objects of historical interest, books, printed matter or manuscripts
• Associations that have been registered for at least 3 years on the date of receipt of the donation, and which pursue an exclusive charitable aim (foundation or congregation).
• Gifts of money or real estate for the purchase of works of art, monuments or historical objects
• Donations or bequests to cultural associations

Depending on their status, not all associations are authorized to receive donations. Among those that are, there are, for example, associations recognized as being in the public interest, religious associations whose sole purpose is the practice of a religion, or associations whose sole purpose is assistance, charity, or scientific or medical research. We invite you to contact the association to which you wish to bequeath your bequest.

An association may choose not to receive a bequest depending on its nature, i.e. if its articles of association do not allow it to do so, or if the bequeathed estate is in deficit. That’s why it’s a good idea, if you’re thinking of making a bequest to an association, to get in touch with it as soon as possible to find out whether it is entitled to receive it.

If you wish to leave a legacy to an association, it is essential to draw up a notarial or holographic will (drawn up by yourself). If you choose to draw up your own will, we recommend that you hand it in to your notary to ensure that it is properly executed.

A notary is not required to make a bequest. You do need to be very specific about the asset(s) concerned and the beneficiary of your choice in your will. However, we recommend that you use the services of a notary. The notary is responsible for drawing up the will (so that it is enforceable) and for ensuring that your last will and testament is properly executed after your death.

The association is informed of the death and bequest by friends, family and neighbors, provided they have been informed of the terms of your will. Failing that, it may be the notary. In addition, when we are informed of your bequest project, we contact you regularly by telephone or mail to maintain a regular link and keep you up to date with the association’s activities.

It’s often said that with life insurance, your money is locked in for 8 years, but this is not true. Your savings are available at any time. In practice, the 8-year period simply corresponds to the policy’s “tax maturity”, i.e. the length of time after which the policy’s tax treatment is optimal. After 8 years of ownership, policy redemptions are not taxed very highly.

It’s often said that with life insurance, your money is locked in for 8 years, but this is not true. Your savings are available at any time. In practice, the 8-year period simply corresponds to the policy’s “tax maturity”, i.e. the length of time after which the policy’s tax treatment is optimal. After 8 years of ownership, policy redemptions are not taxed very highly.

It’s often said that with life insurance, your money is locked in for 8 years, but this is not true. Your savings are available at any time. In practice, the 8-year period simply corresponds to the policy’s “tax maturity”, i.e. the length of time after which the policy’s tax treatment is optimal. After 8 years of ownership, policy redemptions are not taxed very highly.

It’s often said that with life insurance, your money is locked in for 8 years, but this is not true. Your savings are available at any time. In practice, the 8-year period simply corresponds to the policy’s “tax maturity”, i.e. the length of time after which the policy’s tax treatment is optimal. After 8 years of ownership, policy redemptions are not taxed very highly.

It’s often said that with life insurance, your money is locked in for 8 years, but this is not true. Your savings are available at any time. In practice, the 8-year period simply corresponds to the policy’s “tax maturity”, i.e. the length of time after which the policy’s tax treatment is optimal. After 8 years of ownership, policy redemptions are not taxed very highly.

It’s often said that with life insurance, your money is locked in for 8 years, but this is not true. Your savings are available at any time. In practice, the 8-year period simply corresponds to the policy’s “tax maturity”, i.e. the length of time after which the policy’s tax treatment is optimal. After 8 years of ownership, policy redemptions are not taxed very highly.

It’s often said that with life insurance, your money is locked in for 8 years, but this is not true. Your savings are available at any time. In practice, the 8-year period simply corresponds to the policy’s “tax maturity”, i.e. the length of time after which the policy’s tax treatment is optimal. After 8 years of ownership, policy redemptions are not taxed very highly.

It’s often said that with life insurance, your money is locked in for 8 years, but this is not true. Your savings are available at any time. In practice, the 8-year period simply corresponds to the policy’s “tax maturity”, i.e. the length of time after which the policy’s tax treatment is optimal. After 8 years of ownership, policy redemptions are not taxed very highly.

The payment of funds will depend on what is written in the beneficiary clause of the life insurance contract. There are two options: either you contact us to send us the death certificate or send it to the insurance company, which will contact our dedicated team.

The payment of funds will depend on what is written in the beneficiary clause of the life insurance contract. There are two options: either you contact us to send us the death certificate or send it to the insurance company, which will contact our dedicated team.