The reform of inheritance law in September 2018 introduced the inheritance pact, which has seen 13,000 pacts drawn up in Belgium since its implementation. However, registration of these pacts has decreased due to the coronavirus crisis and restrictions, with 3,710 pacts registered in 2019, and 2,027 and 2,113 registered in 2020 and 2021, respectively. Despite this, the succession pact has become more popular due to the “Valkeniers” pact, named after a Flemish politician who encountered inheritance issues when wanting to remarry, and is often integrated into marriage contracts or included in blended family situations. Despite three quarters of the pacts being signed in Flanders, the inheritance pact is divided into two categories: the global succession pact, which takes stock of each child’s inheritance or gift, and the specific succession pact, which allows agreements or decisions to be made on specific aspects of inheritance.
The inheritance pact was one of the novelties of the reform of inheritance law in September 2018. 13,000 pacts have been drawn up in Belgium since its entry into force.
In 2019, 3,710 pacts were registered, then their number fell to 2,027 in 2020 and 2,113 in 2021. A decrease explained by the coronavirus crisis and the restrictions put in place. “It was no longer possible to bring the whole family together around the table and fewer pacts could therefore be concluded”, specifies Sylvain Bavier, notary and spokesperson for the federation.
No more “taboos” on succession
According to Renaud Grégoire, notary, the succession pact is experiencing a resurgence of interest because “advance settlement of the fate of property in the event of the death of one of the two spouses”. And thanks to the “Valkeniers” pact, named after a Flemish politician who wanted to remarry a few years ago and was faced with this question of inheritance, there can be an arrangement so as not to penalize either the new spouse or , in the case of a blended family, do not penalize the children of a previous relationship. Which is most often the case.
”My feeling as a notary is that the vast majority are pacts integrated into marriage contracts. And there is a ‘risk’ of seeing this increase as more and more families are ‘blended’. And parents don’t want to make their children dependent on their sentimental stories”, he slips to us. No more taboos, then.
Three quarters of the pacts signed in Flanders
In 2022, 851 pacts were signed in Wallonia compared to 225 in the capital. Three quarters of the pacts have therefore been signed in Flanders. Sylvain Bavier explains it by the extent of the heritage, more important in the North, and the mentality, less reluctant around this theme.
Pacts are divided into two main categories: the global succession pact and the specific succession pact.
The first, also called a family inheritance pact, makes it possible to “take stock of what each child has already received (or will receive at the time of the pact) and whether each child considers that they have been treated in a ‘balanced’ way compared to the others” , specifies Fednot via press release.
The one-off pact allows future heirs “to enter into agreements or make decisions on specific aspects of a gift or inheritance”.
Despite a decrease in the number of inheritance pacts being drawn up due to the pandemic and its restrictions, the use of this legal tool has proven that it is a highly effective way of planning for the future. With the help of inheritance pacts, families can take the necessary steps to ensure that their loved ones are well taken care of, regardless of whether they are part of blended families or not. The success of these pacts is reflected in the fact that over 13,000 inheritance pacts have been drawn up in Belgium since their entry into force in 2018. The use of such pacts is likely to become even more popular in today’s modern and complex world, as individuals aim to provide for their loved ones in the most effective way possible.