Best Trusts Lawyers in Liège

About Trusts Law in Liège, Belgium

In Belgium, including Liège, the concept of a "trust" as known in common law countries does not exist in its traditional form. Belgian law operates primarily under the civil law system, where relationships often managed by trusts elsewhere are instead handled using various legal vehicles, such as foundations ("fondations"), fiduciary contracts, estates, and mandates. Significant reforms - including the Belgian Code of Companies and Associations and the modernization of property law in 2020 - have introduced more flexibility, but the term "trust" must be understood in the Belgian context. Legal arrangements for asset management, estate planning, and inheritance are available, but they are governed by their own distinct regulations.

Why You May Need a Lawyer

Navigating trusts or trust-like structures in Liège, Belgium, can be complex due to differing legal traditions and rules. Common reasons you may require a lawyer include:

• Asset protection and estate planning, especially if you have ties to countries where trusts are common
• Managing or transferring assets upon death using Belgian foundations or fiduciary agreements
• Ensuring compliance with Belgian inheritance laws, which have strict forced heirship provisions
• Addressing cross-border legal challenges if you or your beneficiaries are abroad
• Tax planning and ensuring compliance with Belgian and international tax obligations
• Settling disputes related to asset distribution and inheritance
• Structuring charitable giving under Belgian law

Local Laws Overview

Belgium does not recognize the Anglo-Saxon trust as a legal entity under domestic law. Key aspects relevant to trust-like arrangements in Liège include:

• Fiduciary Arrangements: Under certain conditions, Belgian law allows fiduciary contracts, where a person (fiduciary) holds legal title to assets for the benefit of another (beneficiary), but these are strictly regulated.
• Foundations and Non-Profits: These legal entities can be used for asset management and philanthropy, but cannot benefit individuals directly. Foundations must serve a public or social purpose.
• Inheritance Law: Belgium enforces reserved heirship rights (forced heirship), meaning a portion of your assets must go to close relatives, limiting flexibility in asset distribution.
• Taxation: Certain trust structures created abroad may have tax consequences in Belgium. Belgian residents with foreign trusts must disclose them to tax authorities.
• International Treaties: Belgium became a party to The Hague Convention on the Law Applicable to Trusts and on their Recognition in 2004, but implementation is limited. Foreign trusts may be recognized only in certain circumstances.

Frequently Asked Questions

Is it possible to set up a traditional trust in Liège, Belgium?

No, Belgium does not recognize trusts in the common law sense. Alternative structures such as foundations or fiduciary agreements are available.

Can I be the beneficiary of a foreign trust while living in Liège?

Yes, but you must comply with Belgian disclosure and tax obligations regarding foreign trusts.

How does Belgian law handle inheritance if I have a trust abroad?

Belgium enforces forced heirship, so creating a trust abroad does not circumvent local inheritance requirements. Heirs may claim their reserved share.

Are there tax consequences to being involved with a trust as a Belgian resident?

Yes, foreign trusts may trigger tax obligations in Belgium. Disclosure is required and failure to comply can result in penalties.

What is a fiduciary contract?

A fiduciary contract is a legal agreement where one party temporarily manages assets on behalf of another, under strict rules defined by Belgian law.

Can a Belgian foundation function like a trust?

To some extent, yes. Foundations can hold and manage assets but must have a non-profit objective and cannot directly benefit individual persons.

How can I ensure my estate plan is valid under Belgian law?

Consult a Belgian lawyer with experience in estate planning to ensure compliance with inheritance and tax laws.

Can trusts be used for charitable purposes in Belgium?

Charitable giving is structured via foundations or associations, not trusts, and must comply with local regulations.

Is a will sufficient if I want to ensure my assets are distributed as I wish?

A will is necessary but Belgian law restricts total freedom due to forced heirship. Professional advice is vital.

Do international treaties affect trusts if I move to or from Belgium?

Yes, cross-border situations often involve multiple legal systems. The Hague Trusts Convention may apply, but national law takes precedence for residents.

Additional Resources

For further assistance and reliable guidance regarding trusts, fiduciary contracts, or estate planning in Liège, consider contacting:

• The Belgian Federal Public Service (FPS) Justice
• FPS Finance - Taxation Department
• Notarial Chambers of Liège
• The Brussels Bar Association or local Liège Bar Association (Ordre des Avocats de Liège)
• Professional estate planners and certified notaries (notaires/conseils successoraux)

Next Steps

If you need legal assistance regarding trusts or trust-related matters in Liège:

1. Identify your specific legal needs (e.g., asset protection, inheritance planning, cross-border issues).
2. Collect all relevant documents and information, including any foreign trust deeds if applicable.
3. Contact a qualified lawyer in Liège who specializes in succession, estate planning, or private international law.
4. Consider scheduling a consultation with a certified notary for matters relating to wills and foundations.
5. Where necessary, seek tax advice to ensure full compliance with Belgian and international regulations.
6. Stay informed of changes in Belgian legislation that could affect your plans.

Legal frameworks around trusts and estate planning in Belgium are nuanced and subject to regular updates. Consulting a local legal professional ensures that your plans are valid, compliant, and suited to your goals.