Parents can assist their children in different ways, such as donations, funding for studying abroad, or renovations. This, however, can create an imbalance between heirs as donations are typically taken into account in the succession, while the other benefits are not necessarily considered. According to notary Sylvain Bavier, a family inheritance agreement can help avoid future disputes and clarify each child’s current or future provisions. This type of agreement assesses what each child has received or will receive and whether they believe it is balanced compared to their siblings. Bavier suggests that a family inheritance agreement is an excellent tool for addressing past issues and can involve all heirs, including stepchildren and grandchildren.
“During their lifetime, parents can help one or more children in different ways: donation, funding for studies abroad or assistance with renovation. This can create an imbalance between heirs”, observes notary Sylvain Bavier, spokesperson for Notaire.be. “Indeed, donations are in principle taken into account in the succession, while the other benefits are not automatically.
An inheritance agreement makes it possible to clarify things beforehand and to avoid later problems
Concretely, the drafting of a family inheritance pact takes stock of what each child has already received (or will receive at the time of the pact) and whether each child considers that he has been treated in a “balanced” manner compared to the others.
According to Sylvain Bavier, “a family inheritance pact is the ideal instrument for mapping out a number of past issues. “Its big advantage is that you can involve all of your heirs, including your stepchildren and grandchildren.”
In conclusion, planning for inheritance is an important aspect of family dynamics that cannot be ignored. With the help of a notary, families can create a family inheritance pact that outlines how each child will be treated and what each child will receive. This can avoid any imbalances in the future and prevent disputes among family members. By involving all heirs, regardless of relation by blood or marriage, families can ensure a fair and peaceful distribution of assets. Start planning for your family’s future today and ensure your legacy is distributed as per your wishes.