My legacy with AlterfinHow to pass on your shares

On average, Belgians draw up their will at the age of 63, according to Fednot (the Federation of Notaries). But it all depends on your personal situation. Many people start thinking about it much earlier, especially if they have a larger estate or a family business, in the case of a blended family, or if they have no children.

The inheritance agreement is another useful tool for approaching the question of succession. It's an agreement made between family members about an estate. It takes place at the notary's office and lets everyone take stock together (whereas a will is a one-sided act). It can provide for succession planning — a schedule of gradual gifts from your estate.

If you don't plan your succession, your Alterfin shares form part of your estate and pass to your heirs (your spouse and/or closest family). After paying the inheritance tax, they decide whether they'd rather sell or keep the shares. If they keep them, they first have to become Alterfin co-op members by filling in this form.

For more information, contact us by email at info@alterfin.be or by phone on +32 (0)2 538 58 62.

Gifts are always more tax-friendly, whether for your heirs or for the Alterfin Impact+ Program (AIP). Even when there's gift tax to pay (in the case of a declared gift), it's lower than inheritance tax.

For bequests by will, there are tax-friendly mechanisms too:

• Brussels and Wallonia: the duo bequest system lets you leave part of your estate to your loved ones and another part to an association such as the Alterfin Impact+ Program (AIP). The AIP then pays all the inheritance tax, including your heirs' share, so they pay no tax at all.
• Flanders: the duo bequest system no longer exists, but bequests to non-profits are fully exempt from inheritance tax. So it changes nothing tax-wise for your heirs, while being advantageous for the AIP.

Do feel free to consult a notary to explore all the options and run simulations with your real figures.

Notaries advise putting together a file with the following documents:

• Will and/or inheritance agreement
• Deeds of gifts
• Title deeds for real estate
• Marriage contracts
• Documents on your bank accounts, shares, government bonds, co-op shares, etc.
• Access codes and useful contact details for banks, insurers, providers, etc

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In your will, state clearly that you want to bequeath your shares to the Alterfin Impact+ Program (still officially the Alterfin Guarantee Fund) and mention the following details:

• Registered office: Alterfin Guarantee Fund (Alterfin Impact+ Program), rue de la Charité 18-26, 1210 Brussels
• Company number: BE 0474.048.797
• Contact: info@alterfin.be; +32 (0)2 538 58 62

You can give your shares to the Alterfin Impact+ Program during your lifetime. That way your contribution keeps bearing fruit, without you having to keep track of it.

To get started, you simply fill in a form. To receive the form, send an email to legacy@alterfin.be or call +32 (0)2 538 58 62.

You have two options:

• Give an Alterfin gift card, a simple way to introduce them to impact investing.
• Transfer some of your shares, so that you're both co-op members. If you'd like to start this, send an email to legacy@alterfin.be or call +32 (0)2 538 58 62.

In your will, state clearly that you want to bequeath your Alterfin shares, along with the identity of the beneficiary. Also include the cooperative's details:

• Registered office: Alterfin CV, rue de la Charité 18-26, 1210 Brussels
• Company number: BE 0453.804.602
• Contact: info@alterfin.be; +32 (0)2 538 58 62

One thing to note: if the beneficiary isn't yet an Alterfin co-op member, they'll need to become one by filling in the registration form available on our website.

You'll need to complete a document to formalise the transfer of your shares to the beneficiary; both you and the beneficiary have to sign it. The beneficiary also needs to register via the online form, so that we have the identification details we need. To receive the document, contact us by email at legacy@alterfin.be or by phone on +32 (0)2 538 58 62.

One thing to note: in Belgium, registering a gift of movable assets (such as shares) isn't compulsory. So you're free to draw up the deed yourself, or to have the gift registered — or not — through a deed of gift. Depending on the value of the gift, registration may nonetheless be advisable. We'd recommend asking your notary for advice.

Of course. In that case you'll need to specify in your will how many of your shares you want to bequeath to the Alterfin Impact+ Program.

Your only obligation is to respect a minimum amount to be left to your legal heirs (children and spouse).