With estate planning a lot of people think about saving inheritance tax. This is indeed an important aspect. However at PKF Wallast we prefer examining this subject in a broader fashion. After all, the basis of estate planning can be found in civil law, in particular matrimonial property law and inheritance law, and additionally also in succession law. These three legal areas determine the scope and the composition of an estate. They also mutually influence each other and this quickly renders the matter complicated. And tax law should also be added to this: income tax, gift and inheritance tax, and transfer tax.
That is why we always approach estate planning in an integral fashion. The question who can dispose of or control what assets as from what moment usually precedes the minimisation of the tax pressure. Sometimes a foreign trust is the appropriate vehicle, however often a family trust will suffice.
In addition we also keep an eye on the entrepreneurial interests. How will the business continue? How has the control been regulated? Apart from estate planning in case of death, ever more frequently we advise our clients what to do in case of a different contingency. This is basically important to the business continuity.
Do you want to know more about this subject then feel free to have a no-obligation discussion with one of our advisers. You can also find more information about our knowledge and experience under ‘our expertise’ below.
- Gift and inheritance tax
- Advice on last wills and testaments
- Business succession
- Business continuity in case of contingencies