Since 2013, equity has again played a role in determining the co-payment for care. Since January 2015, what was regulated in the AWBZ has been transferred to the Long-Term Care Act (Wlz), Social Support Act (Wmo) and the Health Insurance Act (Zvw). It looks specifically at assets in box 3.
If you have assets above the free limit, measures can be taken to reduce these assets. These include:
Gifting whether on paper or not
Gifting reduces the box 3 assets. You can do this by transferring amounts to future heirs. If you do not want to spare the cash, you can consider the so-called paper donation.
Adapt your will
It may pay to have your will reviewed with regard to the wording of, for example, the claim of the children against the surviving parent. Such a claim can be made payable in the will, for example, as soon as a parent is admitted to a care facility.
Settling inheritances and claims
For inheritances that are already open, it can be considered whether the children's claims can be made payable, or can be redeemed, in order to reduce the Box 3 assets of the surviving parent.
Surrenders
Another option could be for the surviving parent to renounce the estate if that parent resides or will reside in a care institution.
Own home
Because the owner-occupied home is in box 1 and therefore does not count for determining the contribution, the counting assets can be reduced by paying off the mortgage. As soon as the home is no longer an owner-occupied property, it will fall into Box 3. This can be anticipated through one or more of the other measures.
B.V.
Assets can be transferred from box 3 to box 2 by depositing the assets in a B.V. However, this is only worthwhile at assets from about €500,000.00 onwards given the annual recurring costs and corporate income tax.
Living will
For the situation when you are no longer able to act yourself, it is important to draw up a living will, in which the possibility is given to make donations or pay claims to the children to reduce the Box 3 assets.
Well-groomed old age
There are all sorts of ways to ensure that reducing Box 3 assets does not result in you not being well looked after or suddenly having nothing to live on.
Note
It is important to note that the own contribution is not based on the assets of the year in question but on those of two years before. It therefore makes sense to start transferring assets in time. Here, good advice is valuable, because besides reducing the box 3 assets, other taxes such as income tax, transfer tax, inheritance tax and gift tax also play an important role.
For more information on reducing your own contribution, please contact us. We will be happy to advise you.
pkooijman@kooijmanautar.nl
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