The future of your wealth
Estate planning is an American concept that has found its way to Europe as well. The concept covers all fiscal and legal advise related to wealth management. The main goal in estate planning is efficiently handing over wealth to a next generation. Or more concrete, paying as less tax as possible.
Transferring wealth through gifting
You probably heard about it before: transferring wealth to your children annually, without paying taxes over the money. Sounds good right? This process, of gifting money, is one of the main tools in smart estate management. Gifting, when planned carefully, can be a legal way to ‘outsmart’ the Belastingdienst. However, in practice not many people use this opportunity, which is a shame, because it involves substantial fiscal benefits. This status quo is quietly accepted by the belastingdienst, who rather wait for a bigger inherentence tax.
ONZ Kantoor can help with seizing this opportunity. We advise our clients about how to start the ‘gifting process’. We look into your financial situation and determine the best course of action, maximising your fiscal benifits.
Another important aspect of estate planning is a carefully thought out testament. Probably not an issue that crosses your mind often. However, by taking the time to think about about your inheritance you prevent a lot of confusion in case of a premature death. First of all it prevents conflict between the potential benificiaries of an inheritance. Second, it gives you full control about who gets what. Everything can be tailored to your wishes. If you rather leave your wealth to a local charity, no problem. Third, through efficient planning the amount of inheritance tax that has to be payed can be minimised. Leaving more to the benificiaries.
When you already have a testament, a periodic update can’t hurt. Personal situations, laws and financial situations change, leaving your testament outdated. All these isues require a lot of knowdlegde and time, when these are absent, ONZ Kantoor can help with managing your testament.
How ONZ Kantoor helps
Our professionals can advise you on how to start and manage the estate planning process. We can consult on the fiscal and legal aspects of a testament. For example, how to minimise the amount of inheritence tax that has to be payed. We also look at what can be done now. Dutch tax legislation offers different fiscal opportunities, of which gifting is the most salient.
Thinking about your inheritance doesn’t have to be a heavy subject. Do you want to know more? Please contact ONZ Kantoor. Together we can determine how we can be of service.