Wealth LEGAL INSIGHT. BUSINESS INSTINCT.

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1 Wealth LEGAL INSIGHT. BUSINESS INSTINCT.

2 Creating, organizing and protecting, and finally transferring your estate requires a long-term approach and vision. Staying true to this long-term vision is often extremely challenging given a changing regulatory environment and evolving and increasingly complex tax (and inheritance) rules. In addition, due to the budgetary needs of many governments and public authorities, the direct and indirect tax burden on your estate can be expected to increase continuously. Fortunately, there are various planning opportunities to structure and manage your estate in an effective and beneficial manner. WEALTH STRUCTURING INHERITANCE LAW REAL ESTATE YOU PREVENTION AND LITIGATION INSURANCE AND PENSIONS PROPERTY LAW A COMPREHENSIVE, EFFICIENT LONG-TERM APPROACH Working hand in hand with our clients, we offer comprehensive wealth planning advice on both a personal and business level. We focus on long-term advice and solutions. Wealth planning issues are often extremely diverse and, therefore, require expertise in many areas of practice. The size of Lydian s Wealth Planning team not only enables us to offer you a full range of services and support, but also makes sure that your question is being handled by a professional who is dedicated to the specific specialist practice area you need. Wealth planning involves, in addition to tax aspects, several other legal areas: real estate and corporate law, inheritance and family property law, insurance law, to name a few. Sound wealth planning therefore requires a multidisciplinary and global approach. Our Wealth Planning team works together with the other Lydian practice groups, is specialised in all areas of wealth planning and can offer you such multidisciplinary approach whereby we focus on all aspects of your specific wealth planning needs. By definition, wealth planning is made to measure and starts with an in-depth analysis of your personal situation. Before drafting the outline of your personal wealth plan, we wish to have a comprehensive view on your situation, priorities and objectives. Wealth planning has to be more than a purely theoretical exercise; it should involve the execution of a series of concrete steps and actions with immediate effect on your own life, as well as on the lives of your loved ones. Real estate may be structured in a different manner from your moveable assets. Your corporate wealth then again may require another solution We strive to offer you the best possible wealth plan for your estate.

3 THE FULL SCOPE OF LYDIAN S SERVICES We have in-depth expertise in the following matters: Wealth planning and structuring Real estate Insurance and pensions Prevention and litigation WEALTH PLANNING AND STRUCTURING A first analysis of your personal situation will allow us to advise you and map out for you a well balanced series of steps and actions. Many instruments and various structures can be considered in order to achieve wealth planning goals: incorporating legal entities and foundations, availing of insurance products, exploring wealth tax schemes, considering donations and gifts, etc. We advise wealthy individuals and work closely together with their trusted advisers (notaries, financial advisers, insurance advisers...) to develop and implement wealth structures which take into account our clients values and philosophy, and at the same time provide flexibility for changing circumstances and needs. More specifically, we have substantial experience in organising the succession of ownership and management in family-owned businesses, both on a national as well as on an international level. At Lydian our advice is impartial and geared towards offering you what is best for your particular situation. REAL ESTATE Real estate in Belgium is subjected to numerous and diverse federal, regional and local taxes, both for property owned by private individuals, as well as investments through real estate companies. Numerous factors have to be taken into consideration when deciding how to purchase, manage and transfer real estate. The ultimate objective is to create a flexible structure that will be appealing to you today and tomorrow. Today, this structure must meet your actual needs and expectations. Tomorrow, this structure must be compatible with changed family or financial circumstances. 3

4 LEGAL INSIGHT. BUSINESS INSTINCT. INSURANCE Life insurances are essential in the area of wealth management for savings and investment purposes and as an instrument to pass on wealth to the next generation. We have an in-depth expertise in life insurance and pensions products and advise our clients on the various life insurance products and the tax treatment thereof. We assist and represent our clients in life insurance litigation before court. PREVENTION AND LITIGATION We advise our clients on all measures necessary to avoid administrative or judicial disputes regarding their estates. We also offer negotiation and mediation services. We proactively approach public authorities seeking maximum transparency and / or acceptance of any structuring or solution envisaged. If necessary, we can act before the Courts in order to defend our clients interests. A TEAM WITH EXPERIENCE We have a team with the experience to foresee problems and respond to them in an appropriate way. To offer you the best possible solutions and advice, the Lydian Wealth Planning team is your ideal partner. Together with you, in an open and proactive atmosphere, we will work to find the solutions and opportunities you are looking for. All the lawyers in our team have particular areas of expertise, whether in estate planning, property law, real estate, insurance or wealth structuring. OUR EXPERTS Geert De Neef T +32 (0) E geert.deneef@lydian.be Wouter Neven T +32 (0) E wouter.neven@lydian.be Sandra Lodewijckx T +32 (0) E sandra.lodewijckx@lydian.be 4

5 GEERT DE NEEF T +32 (0) E geert.deneef@lydian.be Geert is a partner in the Tax practice. Geert graduated with a degree in law in 1988 from the Catholic University of Leuven (KUL). In 2007, he obtained a diploma in financial management at the Brussels Business School. Geert started his career as a tax counsel with a Dutch Law firm in Antwerp in 1989, and was called to the Brussels Bar in He became a partner in 1998 in the Brussels office of Thompson Hine, a US law firm. He subsequently joined Stanbrook Hooper, an EU law firm. In 2010, Geert joined Lydian where he heads the tax department. Geert advises clients both on the structuring of their corporate and real estate assets, as on the structuring of private assets. His advice is based on a broad experience in civil and estate law, transfer of enterprises to the next generation or to third parties and Belgian and international tax structuring. His clients include high-net-worth individuals, investment funds, banks and real estate investors. He has published various books, including the standard reference book Transfer of Companies Tax and Corporate aspects, the Codex M&A, the Transaction Tax World Guide, as well as various articles on wealth structuring. Geert is also a regular speaker at international tax forums (International Bar Association, Euromoney, etc.). WOUTER NEVEN T +32 (0) E wouter.neven@lydian.be Wouter is a partner in the Real Estate, Environment & Regulatory practice, where he heads the real estate team. Wouter graduated in 1991 as Licentiate in Laws at the Catholic University of Leuven (KUL). In 1992, he further specialized at King s College, University of London where he secured a Master of Laws. As head of Lydian s Real Estate, Environment & Regulatory practice, Wouter has developed a particular expertise in handling a wide range of commercial, office, large residential and retail developments, having helped set up shopping centres, business parks, retail offices, multi-storey and residential complexes throughout Belgium. Wouter acts for a number of the country s leading public and private companies, carrying out a large number of acquisitions, joint ventures, development programmes and tax-designated property investments. Wouter has considerable knowledge and experience in all aspects of conveyancing, construction, public private partnerships, and property development law and has a broad and wideranging practice within these areas. He also advises clients on dispute resolution matters, contractual planning, regulatory matters and environmental issues. Furthermore, he advises on financing structures, including leasing, purchase and sale of properties. He has solid experience in litigation with respect to real estate and construction issues. 5

6 LEGAL INSIGHT. BUSINESS INSTINCT. His team consists of different Notary graduates, all having an extensive knowledge of family right and law of succession, who can work closely together with your own notary. Wouter is the author of various legal publications and is a regular speaker at conferences and seminars. His practice is recommended in legal directories such as Chambers and Legal 500. Since 1 January 2013, Wouter is also Lydian s managing partner. SANDRA LODEWIJCKX T +32 (0) E sandra.lodewijckx@lydian.be Sandra Lodewijckx is a partner in the Commercial practice and her practice is focused on the insurance and pensions industry. Sandra graduated with a law degree from the Catholic University of Leuven (KU Leuven) in After her studies she took a number of supplementary courses in insurance and risk management, including at Assuralia and with the German reinsurer, Münchener Rück. From 1994 to September 2000, she worked as a department manager at ING Insurance (now Vivium). In September 2000, she became an attorney at Allen & Overy Belgium, where she was a member of the Banking & Finance Department. Sandra joined Lydian on 1 January 2002 and is specialised in insurance law and pensions law. She assists Belgian and international clients and professional organizations with all insurance-related issues. She also advises clients on the different aspects of supplementary pensions, corporate governance, pension plans and management agreements. She has extensive experience in litigation involving insurance and pension matters. Her combined knowledge of collective insurance and pensions makes her also a unique personality on the Belgian market. Sandra maintains very good contact with insurers, actuaries and control authorities. She is in demand as a speaker on insurance and supplementary pensions and has written several articles on the subject, amongst others about the introduction of class actions in the Belgian legal system. Sandra is a member of the Antwerpse Kring van het Verzekeringswezen, the Association des Juristes d Assurances (AJA) and the Cercle Royal des Assureurs de Belgique (CRAB/ KKVB). She is also a member of the Belgian Pension Lawyers Association (BePLA) and a Member of the Board of Directors of the pension fund Voorzorgskas voor advocaten, gerechtsdeurwaarders en andere zelfstandigen OFP. 6

7 HIGHLIGHTS OF OUR RECENT EXPERIENCE We recently assisted with the restructuring of a family-owned business, with local branches in various European countries. We identified the right company structure for the next generation and also advised on achieving a tax friendly passing over of company ownership and management to the next generation. We assisted several Belgian private individuals in their claims with regard to the conclusion and execution of life insurance contracts (branch 23). These claims related amongst others to the precontractual information obligations and the management of the life insurance policies. We assisted a private investment group in its acquisition of several retail buildings in Ghent s main shopping street. We assisted an important insurance group in 2012 in the sale and purchase of several strategic real estate objects and real estate companies. We assisted an insurance company with regard to the management of their life insurance activities on the Belgian market. We advised on the legal compliance of the policy conditions of various life insurance products and provided assistance on a daily basis with regard to queries or claims from policy holders. We assisted a Luxembourg insurance company with regard to claims from policy holders with regard to the execution of their life insurance contracts (branch 23). These claims related amongst others to the absence of any guaranteed capital at the expiry date of the policy and the choice of the underlying investment funds. We assisted a real estate company in negotiating and drafting a share purchase agreement by virtue of which an other real estate company, a civil company under Dutch law, sold 100% of the shares of the companies to our client. The companies are the owners of an office space, storage space, commercial property, an underground space, a studio and several underground parking places. We assisted a listed Belgian real estate company and one of the largest office property portfolios on the European market, in outlining legal frameworks for several public-private partnerships between the company and different public authorities (both on a Regional and on a local level). In this regard we also assisted two of the leading building contractors in Belgium in their bid for the design, build, finance and maintenance of four new prisons in Belgium. This project concerns the construction of four new prisons in Belgium and is one of the most important PPP initiatives of the Belgian Government. In October 2011, the consortium was able to secure the DBFM contract for one of the four prisons. Throughout 2012 our assistance involved both advice on bid documentation and on the underlying organisation of the SPV, the financial documentation, the rights in rem, the permit procedure as well as contract negotiations after the award of the contract. 7

8 Lydian, 2014 Lydian Brussels Office Tour & Taxis, Havenlaan 86c b113 Avenue du Port 1000 Brussel - Bruxelles België - Belgique T F info@lydian.be Lydian Antwerp Office Arenbergstraat Antwerpen - Anvers België - Belgique T F info@lydian.be