Transfer and protect your assets through a partnership

• Why a partnership may be a good option to manage your assets
• A partnership: flexible wealth management with tax advantages
• Flexible, discreet and tax-efficient: this is how a partnership protects your assets
• A partnership could be the perfect solution for you and your heirs

A major advantage of a partnership is that it is mainly governed by directory law provisions. This gives you a lot of freedom to set the articles of association and rules yourself. A good example is the partnership's personal nature: you enter into the partnership with specific partners, each of whom is entitled to a non-transferable share in the company. And yet the law allows you to stipulate in the articles of association that under certain conditions, those shares can indeed be transferred. In other words, you decide how the assets are managed and distributed within the partnership.

A partnership has many uses, but is often set up within a family context. The parent acts as the manager, with the life partner and/or children becoming partners. This structure allows the family assets to be managed and transferred in a controlled way.

For the founder, this mainly means absolute control. You can sell or reinvest assets as you see fit, without other partners being able to object. The articles of association can also be fully tailored to your personal needs and situation. Finally, there is no obligation to publish financial statements, which makes a partnership a vehicle for control that is extremely discreet.

A simple partnership also has tax benefits for the heirs or partners. The contributed assets are often financial assets such as cash or shares. In principle, these assets are exempt from both corporate income tax and inheritance tax, which means a significant tax advantage. This makes this simple type of company particularly interesting for inheritance planning. Personal property such as buildings, works of art or other real estate can also be included in this type of company. However, bear in mind that stamp duty is payable for the contribution of real estate. Agreements on the management and distribution of assets are clearly set out in the articles of association, which significantly reduces the likelihood of any discussion or disagreements.

A partnership is a flexible, discreet and fiscally attractive way to manage and transfer wealth. It is often cheaper and more transparent than a traditional gift of bare property, and helps to avoid any family tensions.

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