Inheritance law reform: inheritance allocation while benefactor still living

The Parliamentary Committee for Justice has approved a far-reaching modernisation of the inheritance law. With this development, another important part of the coalition agreement is being achieved. A bill drawn up by the N-VA relating to the inheritance agreement was also included in the latter. “The power of change really is tangible,” the party says.

With the introduction of the inheritance agreement, every citizen has the opportunity to allocate his or her inheritance while still alive, providing that every single beneficiary signs the agreement in the presence of the notary. “In this way, you can for example give your home to one of your two children and an equivalent sum of money to the other one,” the N-VA clarifies. “Or you can provide more money for a child with a disability. Or for the stepchildren, without upsetting the equilibrium for your own children.” The principle of the inheritance agreement offers a certain peace of mind to a person with capital on the one hand, and the beneficiaries left behind after his or her death on the other. This avoids long, drawn-out legal procedures or bitter family arguments.

Greater freedom of allocation

Irrespective of the number of children he or she has, a parent is from now on free to allocate half of his or her estate while alive. No matter what the parent decides to do with that half, the other half goes to the children regardless. Under current law, the size of the available part still depends on the number of children. “This bill achieves a good balance: more freedom to allocate your capital as you see fit, while at the same time ensuring that the children are not left out in the cold,” the N-VA concludes.