Many roads lead to Rome: leaving a legacy

What is a legacy?

A bequest is a provision in your will in which you stipulate that you wish to leave certain assets to someone after your death. This could be a specific item such as a car, jewelry, or a certain sum of money. It is also possible to bequeath a right of usufruct or use to someone after your death, for example, your home or another asset. The recipient of a bequest is generally excluded from the further settlement of the estate, unless that person is also appointed as an heir.

Difference with heir

If you are an heir, you inherit not only the deceased's assets but also the deceased's debts (or a share thereof). This includes mortgage debt, funeral expenses, and inheritance tax. A legatee inherits only certain assets with a legacy and therefore cannot be held liable for any debts.

How to capture?

You record a legacy in your will. For example, if you wish to leave a specific sum of money to a charity, you can go to a notary. The recipient of the legacy (also known as the "legatee") is not obligated to accept a legacy. For example, if a caravan is bequeathed, a reason for refusal might be the anticipated high costs for maintenance or storage in the future.

Types of legacies

Legacies come in various forms. For example, you can choose a "legacy against contribution." This allows you to acquire certain items from the inheritance at their value. This increases the inheritance balance for the heirs, who are entitled to the remainder. Including legacies in your will can also be advantageous from a tax perspective: a notary can explain the options.

Go to the notary!

To ensure that your specific assets go to the right people after your death, it's wise to draw up a will and bequeath those assets. Contact a notary to legally document your wishes and avoid any confusion for your loved ones.

This article is taken from 'Met Recht Geregeld', a product of FBN Juristen.

This article should not be considered legal advice. FBN Lawyers and MAES Civil-Law Notaries take the utmost care in the content of these articles, but accept no liability for any incompleteness or inaccuracy of an article, nor for any consequences thereof.