Duo Legs
Is a will essential?
Yes, or the State will find your potential heir up to the sixth degree! If you have no heir and no will, your assets revert entirely to the State, without recourse.
Duo legs
Benefit your heirs while helping Mékong Plus. In both Belgium and France, inheritance tax legislation stipulates that you can designate a person X (your heirs) as an heir free of any inheritance tax, as long as Y (Mékong Plus) pays the inheritance tax. The advantage of the “duo bequest” lies in the difference between the inheritance tax rate applied to a private heir (up to 80%) and that granted by the State to Mékong Plus (12.5% in the Brussels-Capital Region). For more information on this subject, please consult this page and, of course, your notary, who will be able to respond to your specific needs.
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Example in Belgium
Classic legacy: Pierre G. is a 65-year-old widower. He has no family. In his will, he bequeaths €40,000 to his friend Catherine, who lives in the Brussels-Capital Region, where she will be subject to 40% inheritance tax, with no allowance. She will receive a net inheritance of €24,000.
Duo bequest: Pierre G. wishes to bequeath €25,000 to his friend Catherine and, in his will, designates Mékong Plus as her sole heir. Mékong Plus will pay the full inheritance tax (12.5% in the Brussels-Capital Region for bequests made to federally-approved associations), i.e. €5,000, and will pay €25,000 to Catherine. Mekong Plus will receive a net bequest of €10,000.
In all cases, to ensure that neither party is prejudiced, the “duo bequest” technique requires a tailor-made approach. Always consult your notary.