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Parents to have more say over inheritance
As it is now in Belgium, the biggest portion of your assets following your death automatically goes to your children. But that is about to change, according to Minister of Justice Koen Geens (CD&V). Geens is working on a relaxation of the inheritance law in Belgium.
Parents who draw up a will currently have little choice when it comes to who will receive what after they are gone. With or without a will, assets are divided equally among the children of the deceased. In other words, you are required by law to give the majority of your estate to your children. If you have only one child, then he or she gets half of your assets, and you are free to do as you please with the other half.
The portion you are allowed to distribute at leisure decreases as you have more children. Should you decide to leave a larger part of your assets to a new partner or stepchild, for example, you can write that in your will, but your children can always veto it.
The law is not adapted to modern society. "And that is why there should be more freedom of choice," says Geens, who will propose an adaptation of the inheritance law today in parliament. "The current legislation is very outdated. Times have changed, as has the modern family.”