LIFESTYLE - EXPAT GUIDE

Expat Guide 2021-2022

5 things to know about financial planning



Under Luxembourg inheritence law,  children have first claim to certain assets and parents can only make bequests to others within legal limits Shutterstock

Under Luxembourg inheritence law,  children have first claim to certain assets and parents can only make bequests to others within legal limits Shutterstock

Luxembourg family and inheritance law can surprise people used to a different legal tradition.

1 Marriage contracts

There are three different types of marriage contracts in Luxembourg, with distinct consequences on inheritance and divorce. Speak with a legal advisor to understand the differences.

2 Inheritance rights

By law, children have first claim to certain assets and parents can only make bequests to others within legal limits.

3 Cross-border issues

“In Luxembourg, there is no inheritance tax between parents and children,” when both live in the grand duchy, says Aude-Marie Breden of MyOwnTaxPractice. If a child lives abroad or if the parents have foreign real estate, things become more complicated.

4 Drafting your last testament

There are two ways to write a will. You can simply write out your wishes in longhand, date and sign it, and register it with the Luxembourg Land Registration and Estates Department (www.aed.public.lu). Or work with a notary who will give advice and record your last wishes.

5 Home renovation help

Homeowners can access a combination of national and local subsidies to help pay for green upgrades. The Myrenovation app walks users through the entire process. The amounts on offer can be substantial.

www.myenergy.lu