FURTHER EXPLANATION · 2 MIN READ
An old deed with a long aftermath
The Flemish Tax Administration published on 5 August 2026 a prior decision regarding a Dutch gift from 2009. The donor had gifted assets under an arrangement whereby what remains at the death of the first beneficiary may go to a subsequent beneficiary. Since the original gift, assets had been sold, amounts transferred and new investments acquired.
The administration accepted that contractual and statutory replacement of assets can play a role in such a structure. A replacement good can therefore, under conditions, replace the original asset. At the same time, it did not issue a blank evidence certificate. Whether the stated asset chain is truly correct will be assessed based on the facts and documents available at the time of death.
The chain is only as strong as its documents
Anyone relying on replacement of assets must be able to show which asset was sold, what proceeds were received and how those proceeds were reinvested in a subsequent asset. Mixing with other assets, withdrawals for consumption or missing account statements can complicate the reconstruction. Over a long period, this evidential problem grows every year.
Cross-border files add an additional layer. The original deed may have been drawn up under foreign law, while at a later death Flemish inheritance tax applies. Registration practice and legislation may also have changed since the deed. Therefore, the old arrangement must first be legally analysed before assuming that a current account or investment still fully falls under the residual clause.
Create a verifiable trail today
Suppose a gifted securities account was sold in 2012, the proceeds went into a savings account, and later partly invested in an apartment and partly in new funds. Then the purchase and sale settlements, bank statements, notarial deeds and the relationship with own funds are all relevant. Without a chronological overview it is later difficult to see where which value went.
Make a timeline from the original gift and link an evidence document to each step. Keep digital copies as well as the deed with all conditions. For mixed accounts, also note which own deposits occurred in the meantime. Notariaat Wellens can organise the chain with you and indicate where additional legal or tax analysis is needed. The decision of 1 June 2026 remains file-specific. Would you like to know if your old gift is still well traceable? Discuss the file before documents or account history are lost.