Set the seeds for tomorrow’s harvest: think about ADG when making your will!
Information for Belgian residents
An interesting option for those without direct descendents
A ‘duo’ bequest is a bequest made through a will, in which you make a donation to one or more individuals, and where another individual or legal entity also mentioned in the will pays the related inheritance tax.
Your write a will where:
- you leave one part of your estate to one or more individuals,
- you leave the other part to an organisation like ADG, who has to pay the total amount of inheritance tax due on your estate.
The advantage of the duo bequest lies in the difference in the rate of inheritance tax paid by private heirs (up to 80%) and those paid by organisations like ADG (7% in Wallonia).
Jacques, from Gembloux, is a widower and does not have any ‘forced’ heirs (i.e. spouse/partner, children, or grandchildren, nor parents, siblings or cousins). He leaves €75,000 to his friend Jules.
Without duo bequest
On Jacques’ death, a total of €38,125 is owed in inheritance tax. Jules therefore receives €36,875.
With duo bequest
If Jacques leaves €40,000 to Jules and €35,000 to ADG, ADG is responsible for paying the total inheritance tax, i.e. €19,575.
Jules receives €40,000 and ADG receives €15,425.
As the duo bequest is quite complicated, we recommend that you consult a solicitor to discuss your individual situation and to calculate the appropriate amounts.
You can choose the beneficiaries of your estate, except for the part automatically reserved for your children, partner etc.
You can make a specific bequest to ADG if you wish to donate a sum of money, property or belongings. Modest sums of money can also be donated.
If you do not have any ‘forced’ heirs (i.e. spouse/partner, children, or grandchildren, nor parents, siblings or cousins), you may wish to make a universal bequest to ADG, i.e. leaving your entire estate to ADG.
Before making your will, it is advisable to contact a solicitor, who will be able to advise you.