Many people equate estate planning with saving on inheritance tax. This is indeed important, but at PKF Wallast we like to view this subject from a broader perspective. The basis of estate planning is primarily found in civil law, in particular in matrimonial property law and inheritance law, and also in succession law. The three legal areas determine the size and composition of an inheritance. They also mutually affect each other, which can easily make the case complicated. Tax law is another aspect here: income tax, gift and inheritance tax, and transfer tax.
We therefore always approach estate planning in an integrated manner. In this case, the question of who will be provided with or is given control over which assets usually precedes the minimisation of the tax pressure. Sometimes a foreign trust will be the right tool, but a family trust will often be enough.
We also keep an eye on the company’s interests. How will the company continue? How is the company’s control arranged? Apart from estate planning when someone dies, we also increasingly advise our clients on what to do in other emergencies. This is particularly important for the continuity of the company.
If you would like to know more about this, feel free to contact one of our advisers for a non-binding conversation.
Our areas of expertise
gift and inheritance tax
advice on last will and testament
continuity of the company in case of an emergency