Increase in the number of donations of movable property
A recent article in L’Echo (https://www.lecho.be/…/record-de…/10471239.html) reports that in 2022, Wallonia recorded 11,380 property donation transactions, generating approximately €84 million in revenue for the region. These figures, shared by the Royal Federation of Notaries, highlight a growing trend in Wallonia towards planning succession through donations during one's lifetime.
Registration of the donation of movable property
While gift taxes in Belgium can be significant, registering gifts offers legal certainty that seems to be appreciated by citizens. Even though Walloon law allows donations to be made without registration, the donation may be reintegrated into the deceased's estate and inheritance tax may be applied if the donor dies within the so-called "suspicious" period of five years. This reality reinforces the importance of proper estate planning.
Entrust your estate planning to a specialist
Specializing in donations throughinvestment life insurance contracts, the RGF Group offers a solution tailored to this growing need for estate planning in Wallonia. This contract allows the donor to maintain complete control and the beneficiary to potentially avoid inheritance tax.
It is essential to seek expert advice on estate planning, particularly to understand the notary fees for gifts in Belgium. The RGF Group offers a free analysis of your financial and estate situation to find a solution tailored to your specific needs. Whether it is a gift of money in Belgium, a gift between spouses, or any other form of gift of movable property in Wallonia, RGF Group can guide you.
This proposal could prove even more relevant given the potential tightening of tax rules in Wallonia. Walloon Finance Minister Adrien Dolimont has mentioned a possible reform of inheritance tax to make it fairer. This could mean that anticipating and using investment life insurance contracts such as those offered by RGF Groupe could become even more valuable.
Whatever the future holds for legislation, the need for careful planning when it comes to passing on your assets remains essential. Contact the RGF Group today for a free analysis and find out how you can optimize the management of your assets while gaining a better understanding of gift tax in Wallonia.
