1. Consolidate your bank account information
A family account, a business account, a personal account. If you have bank accounts at several banks, take advantage of this period of confinement to gather all the information (bank name, account type, IBAN...) in one place.
In Belgium, the amount of unclaimed dormant bank accounts exceeds 250 million euro. In France, this figure rises to 3.7 billion euros! Should something happen to you, grouping your bank information in a secure place will make it easier for your heirs to find your accounts.
Morning Blue helps you store useful documents in the event of death, in a secure and encrypted manner. Register and create your passport online.
2. Valuing your financial assets and liabilities
An inheritance consists of assets (property, profits, recoveries), but also liabilities (debts, charges, obligations). Take stock of your financial situation and keep proof. Your heirs won't have any unpleasant surprises!
3. Gather and secure your important documents
Marriage contract, will, incapacity mandate, life insurance contract: to settle your estate, your heirs will have to find and provide numerous documents. The upcoming weeks of confinement give you time to (re)get your hands on them!
4. Writing a will
Do you wish to make arrangements for your inheritance? Drawing up a will makes it possible to clarify certain aspects of the inheritance: the number of legatees, their identity and the share of each heir.
Your will may also contain other provisions, such as the bequest of your body, the appointment of a guardian for your children, or a "living will" for end-of-life provisions.
To be valid, make sure your will meets two conditions:
- You are capable of expressing your will (you are of sound mind and act in complete freedom).
- The will must be clear.
5. Appoint an executor
To ensure that your will is executed properly, you can appoint an executor. This trusted person will ensure that your last wishes are carried out. In addition, he or she will ensure that the value of your will is maintained until it is liquidated.
Friend, family member, lawyer, notary... You can designate one or more executors, provided they are of legal age.
6. Take stock of your tax situation
In the event of death, all your assets become taxable. Your estate will be liquidated only after your heirs have paid estate tax.
Are you isolated at home because of health measures? Take the opportunity to contact an expert in tax law. He or she will help you define a tax optimisation strategy for your estate.