Wills

Wills

A will sets out who is to inherit in a way that differs from the statutory inheritance regulations. The starting point is that the law determines who is to inherit in the event of a death. If you would like to deviate from this, you can draw up a will. TRIP Notarissen possesses specialised knowledge in the field of inheritance law and can therefore provide excellent advice. TRIP Notarissen can help you to draw up your will.

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SAMPLE WILLS:

  • Married couples without children: are each other’s only heir under the law. When the first partner dies, the entire legacy goes to the remaining partner. When this partner dies, the entire property goes to the family of the surviving partner. Deviations from this can be incorporated into a will.
  • Married couples with children: under the law, the children and the surviving partner of the deceased each inherit an equal part of the legacy. However, for the protection of the surviving partner, there has been a statutory rule in place since 1 January 2003 that determines that the children will receive their part of the inheritance in the form of a claim on the surviving partner. This can only be claimed on the death of the surviving partner. If there are children from earlier relationships involved, it is highly advisable to incorporate extra protective measures for the surviving partner in the will.
  • Custody: in a custody arrangement, you can determine who will care for your minor child/children if you and your partner die at the same time. It is not the judge, but you and your partner who decide by whom your child will be cared for.
  • Single people without children: if someone dies without children, the assets go to family (who they perhaps never see). In a will, you can determine for yourself where your inheritance will go.

OTHER REASONS FOR MAKING A WILL:

  • Saving on inheritance tax (until 2010 this was called succession duty)
  • Arranging an administrator for children (including those who have reached the age of majority)
  • Naming an executor who will settle the estate
  • To incorporate a private or exclusion clause in your will so that, in the event of divorce, you can prevent your child from having to share your legacy with his/her ex-partner
  • The renewed Long-Term Care Act (Wet langdurige zorg – Wlz) entered into force on 1 January 2015. If you are admitted to a nursing home or other healthcare institution, you may have to consume the assets for which you had to work so hard over the years.

If you have specific wishes regarding your will, please feel free to contact us for more information. TRIP Notarissen will be happy to provide you with confidential advice. You can also find information in the ‘How do I arrange my legacy?’ brochure.

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Living will and power of attorney

In a will you set out all of your wishes in the event of your death. However, in a living will you set out all of your wishes for what is to happen in the event that you are no longer able to perform legal actions during your lifetime, such as following an accident or serious memory loss. Just as with a will, it’s nice for family members or other loved ones to know exactly what your wishes are when you are no longer able to act on your own behalf. A living will therefore provides a solution.

For example, a living will can contain information about who can make decisions regarding your home, your banking matters, your property, your health, your funeral or your pet.

The living will can consist of several parts: the power of attorney, your medical wishes and other wishes

WHAT YOU CAN ESTABLISH:

1. The power of attorney
The principal gives a person/persons the power to act on the principal’s behalf in legal matters.

The power of attorney is effective immediately or only once the principal is no longer capable of acting. The latter can be established by your own physician and/or an independent physician.

You may also nominate a supervisor who monitors the agent.

2. Medical wishes
You can also set out your wishes with respect to your health and/or your life. You can attach a euthanasia and/or healthcare statement, enabling you to determine whether or not you wish to be resuscitated. Alternatively, you can determine who your contact person is for medical questions, or who is allowed to make medical decisions on your behalf.

3. Other wishes
You can also incorporate other wishes, such as for:

  • the distribution of your possessions, collections and/or jewellery
  • your pet
  • gifts (May gifts be made, and if so, to whom and for how much?)
  • the sale of your home (May your home be sold?)
  • your cremation or funeral
  • wpasswords and access/PIN codes (Where can others find the passwords for your computer, the PIN for your bank card, bank details, insurances and any log-in details for social media?)

You can determine what you want by making a living will, and thus keep control of your own matters.

If you also want to retain control when you are no longer capable of acting on your own behalf, feel free to contact us. We’ll be happy to advise you! You can also find information in the ‘Who do you place your trust in?’ brochure.

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