Estate planning: arrange matters now for later
As founder of a family business, you are kept busy each day with running the business, which means your focus is often on that. Estate planning can ensure that future family matters are also arranged properly. Our advisors can advise you on the tax and legal aspects associated with this.
Business structure and estate planning
It’s advisable to consider the business structure of the family business from the perspective of estate planning. Is it the best structure for inheriting the family business in the future? Has the current owner’s will been drawn up in such a way that not too much tax will be payable when the business is inherited?
Estate planning during your lifetime
Good estate planning doesn’t only focus on the death of the testator. We also advise on gifting and (business) transfers during the lifetime of the testator, which can produce substantial tax savings in the long-term. This can be done without the next generation already gaining control of the family business or having access to the family capital.
Preservation of the family capital
If the intention is to give the next generation access to (some of) the family capital now, then we can help you decide how money can be transferred to the next generation in a tax-friendly way. Estate planning is thus an important point on the family agenda, because good estate planning also ensures the preservation of the family capital.
Inheritance tax and gift tax: news
Keen to know the latest developments in inheritance and gift taxes or in estate planning?
Estate planning advice on inheritance tax and gift tax
At Meijburg & Co we have a team of estate planning specialists dedicated to providing advice on the transfer of assets during a person’s lifetime or after their death. We are involved daily with the civil-law and tax aspects of wills and gifts, both in national and cross-border situations.
Help with settling an estate
We regularly provide advice on inheritance tax, assisting families with settling the estate of a deceased family member. This process requires heirs to take decisions that can have far-reaching tax implications. As soon as these decisions are taken, we prepare and file the inheritance tax return.
Tax Advice on Gifting
There are various ways to make a gift. The most familiar way is person to person, but if you’d like to make a social impact, this can also be done from person or business to a charity (philanthropy). Gift tax may then be payable. In that case, there are various points to consider. The professionals at Meijburg & Co would be pleased to provide you with tax advice on transferring your assets.
Insight into your situation for inheritance tax and gift tax purposes
Providing you with the best tax advice requires a clear understanding of your background and considerations. It is crucial that we fully understand your situation if unwelcome surprises are to be avoided. This will enable us to identify the precise tax consequences and will ensure that we provide you with the best possible advice on inheritance and gift taxes.
Need advice on estate planning or inheritance and gift taxes?
We also advise family businesses on the transfer of a business during a person’s lifetime as well as upon their death. Business succession tax relief plays an important role in this, as do questions about continuity and governance.
Need advice about inheritance tax after the death of a family member? Would you like to make a gift to a charity and do you have questions about the tax consequences of gifting? Or do you have questions about transferring your assets to your children or about transferring your business? Meijburg & Co is here to help you. Our inheritance tax and gift tax specialists have a vast amount of knowledge and experience. They understand the complexity of legislation and regulations, both in the Netherlands and internationally. Feel free to contact us.
Frequently asked questions
Which exemptions for inheritance tax and gift tax are available to family businesses?
Specific exemptions and schemes that can reduce the tax burden are available to family businesses. For example, the Netherlands has the business succession scheme (bedrijfsopvolgingsregeling; BOR), which can provide substantial tax benefits when a family business is transferred. In order to be eligible for these schemes, it’s essential that you comply with their conditions.
How can estate planning help when transferring a family business?
Estate planning is the process of preparing for the transfer of assets and ownership, including family businesses, to the next generation. This can help to safeguard the continuity of the business, minimize tax obligations and ensure that the wishes of the current owner are respected. It often includes making a will, setting up trusts, and making gifts.
What are the major considerations in estate planning for family businesses?
Important considerations include the valuation of the business, the wishes of the current owner, the suitability of successors and the impact of taxes on the transfer. It’s also important to take the personal and business objectives of all those involved into account.
