{"type":"document","data":{"id":"21d8726d-4efa-41e9-b6dd-07b82bf62fc9","localeString":"en-GB","publishDate":"2024-03-29T09:49:28.273+01:00","contentType":"onecms:editorialPage","hasMacro":false,"flexPageMetadata":{"afmBanner":false,"robotInstruction":{"noIndex":false,"noFollow":false},"description":"In order to release the estate's accounts, the status of the heir should be proved by presenting an inheritance certificate or deed.."},"mainHeaderZone":{"componentType":"editorialHeader","coreHeader":{"title":"How do you release funds after a death?"},"backLink":{"textLink":{"url":"/en/individuals/my-life/tough-times","text":"Tough times"}},"date":"2023-10-09","readingTime":2},"flexZone":{"flexComponents":[{"componentType":"sectionTitle","title":"To free up bank assets, two steps are essential:"},{"componentType":"paragraph","richBody":{"value":"<ol><li><span><span><span><span><span><span>ING must draw up a tax inventory (tax list): </span></span></span></span><span><span><span>ING is required to draw up and send to the tax authorities a list of all the accounts and securities including the respectively amounts on the moment of decease it holds on behalf of the deceased and their spouse if any.  This list must reflect the situation at 00:00 on the day of death.</span></span></span></span></span></li><li><span><span><span><span><span><span>The heirs must provide ING with a devolution of succession. This document can take different forms:</span></span></span></span></span></span></li></ol><ul><li><span><span><span><span><span><span>either a European Certificate of Succession issued by a notary (for cross-border or international successions)</span></span></span></span></span></span></li><li><span><span><span><span><span><span>a deed of inheritance or a certificate of inheritance issued by a notary</span></span></span></span></span></span></li><li><span><span><span><span><span><span>or a certificate of inheritance issued by a Bureau Sécurité Juridique (free of charge)</span></span></span></span></span></span></li></ul><p><span><span><span><span><span>The release of the assets can only take place if Tthis deed or certificate of inheritance states </span></span><span>that there are no tax or social security debts owed by the deceased and/or their heirs (or that <span>these</span> debts have been paid in full).</span></span></span></span></p><p> </p><p><span><span><span><strong><span><span>Please note</span></span></strong><span><span>: it may take several weeks for this document to be issued</span></span></span></span></span></p>"}},{"componentType":"sectionTitle","title":"Special situations to enable a separate rapid release"},{"componentType":"paragraph","richBody":{"value":"<ul><li><strong>The deceased was married under the regime of pure and simple separation of property</strong><span><span><span><span><span><span>: </span></span><span><span>in this situation, the accounts opened in the sole name of the surviving spouse can be released as soon as ING has sent the tax inventory and the surviving spouse has proven that the matrimonial regime of pure and simple separation of property still applies</span></span><span><span>.</span></span><span><span>  The notary can help you with these formalities.</span></span></span></span></span></span></li><li><span><span><span><strong><span><span>The spouse may request the settlement of the matrimonial property regime</span></span></strong><span>: the surviving spouse may request the settlement of the matrimonial property regime in his or her favour separately from the settlement of the estate in favour of all the heirs.  The notary is your point of contact for this procedure <span>(see how the Legal dept responds to the proposed new section on this subject in the brochure)</span></span></span></span></span></li></ul>"}},{"componentType":"sectionTitle","title":"Releasing accounts"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span><span><span><span><span>Once ING has made the tax declaration and received the deed or certificate of inheritance, it can release the assets to the heirs, once it has received :</span></span></span></span></span></span></span></span></p><ul><li><span><span><span><span><span><span><span>instructions from the heirs concerning the settlement of the assets</span></span></span></span></span></span></span></li><li><span><span><span><span><span><span><span>the guarantee certificate, if there are heirs outside the European Economic Area</span></span></span></span></span></span></span></li></ul><p> </p><p><span><span><span><span><span><span>See our brochure below</span></span></span><span><span> </span></span><span><span><span>for more information.</span></span></span></span></span></span></p><p><span><span><span> </span></span></span></p>"}},{"componentType":"sectionTitle","title":"Release a strong box"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span><span><span><span>ING must also follow a legal procedure for opening the strong box.</span></span></span></span></span></span></span></p><p><span><span><span><span><span><span><span>Under this procedure:</span></span></span></span></span></span></span></p><ul><li><span><span><span><span><span><span><span>The notary or a member of the bank&apos;s staff (in the presence of the heirs) must draw up an official inventory of the contents of the strong box.</span></span></span></span></span></span></span></li><li><span><span><span><span><span><span><span>All the heirs (or their representatives) are invited to attend the opening of the strong box and must be present; the law stipulates that the tax authorities are also invited but do not have to be present.</span></span></span></span></span></span></span></li><li><span><span><span><span><span><span><span>All parties present sign the inventory for agreement. The assets in the strong box are then distributed among the heirs in accordance with their instructions.</span></span></span></span></span></span></span></li></ul>"}},{"componentType":"paragraph","title":"Special situations","richBody":{"value":"<ul><li><span><span><span><span><strong><span><span><span>Will <span>found in the safe</span>: </span></span></span></strong><span><span><span>if the safe contains a will, the contents - with the exception of the will - will be returned to the safe, which will be relocked.  The will must be sent to the notary. Indeed, the will might result in other heirs to the estate being named or the shares of the estate being changed.</span></span></span></span></span></span></span></li><li><span><span><span><span><strong><span><span><span>Strong box rented in the sole name of the surviving spouse who was married under the regime of pure and simple separation of property: </span></span></span></strong><span><span><span>in this case, the legal procedure for opening the strong box must also be followed, but the inventory can be drawn up in the presence of the surviving spouse alone (and the tax authorities, if present). The other heirs are not invited to the opening.</span></span></span></span></span></span></span></li></ul>"}},{"componentType":"sectionTitle","title":"Insurance"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span><span><span><span><span>Certain types of insurance may give entitlement to benefits, such as life insurance, death insurance, group insurance, outstanding balance insurance or <span>individual accident insurance</span>. The beneficiaries of the policy must contact the insurance company (or the employer, in the case of group insurance) to find out what steps need to be taken to receive the capital. </span></span></span></span></span></span></span></span></p><p><span><span><span><span><span><span><span>In most cases, the beneficiary of a life insurance policy will have to pay inheritance tax on the capital paid out.</span></span></span></span></span></span></span></p>"}},{"componentType":"sectionTitle","title":"Survivor's pension"},{"componentType":"paragraph","richBody":{"value":"<p><span><span><span><span><span><span><span>After the death, the surviving spouse can claim a survivor&apos;s pension, which is calculated on the basis of the deceased spouse’s career (employee or civil servant). For more details, visit the Federal Pensions Service (SFP) website.</span></span></span></span></span></span></span></p>"}},{"componentType":"sectionTitle","title":"Do you have any other questions?"},{"componentType":"paragraph","richBody":{"value":"<p>Chat with Ida, ING&apos;s digital assistant (in the &quot;Services&quot; menu in the ING Banking app).</p>"},"textLinks":[{"url":"https://assets.ing.com/m/7f5f2a6636523440/BrochureNalatenschapEN.pdf","text":"Download the brochure : 'Inheritance: all you need to know'"}]}]},"complementaryZone":{"flexComponents":[{"componentType":"cards"},{"componentType":"cards","cards":[{"componentType":"articleCard","cardType":"article","cardSize":"medium","title":"Who needs to be informed?","body":"Read the article","image":{"transformBaseUrl":"https://assets.ing.com/transform/ef946327-a075-4e82-8200-304e18bccb2e/decease-notification-1920","type":"image","width":1920,"original":"https://assets.ing.com/m/1edecf2d45b5bc02/original/decease-notification-1920.jpg","extension":"jpg"},"date":"2023-09-28","link":{"url":"/en/individuals/my-life/tough-times/decease-notification"}},{"componentType":"articleCard","cardType":"article","cardSize":"medium","title":"What happens in practice at ING?","body":"Read the article","image":{"transformBaseUrl":"https://assets.ing.com/transform/e003ee33-37b0-4437-bc7f-10cc39ddf9e1/decease-formalities-1920","type":"image","width":1920,"original":"https://assets.ing.com/m/16b54d80a6e17f32/original/decease-formalities-1920.jpg","extension":"jpg"},"date":"2023-09-28","link":{"url":"/en/individuals/my-life/tough-times/decease-formalities"}},{"componentType":"articleCard","cardType":"article","cardSize":"medium","title":"Paying the bills after a death","body":"Read the article","image":{"transformBaseUrl":"https://assets.ing.com/transform/fbbec1d6-cef6-446a-a9ab-c31e9ac0646c/Overhead-view-of-bill-on-a-table-next-to-espresso-coffee-and-a-glass-of-water","type":"image","width":5616,"original":"https://assets.ing.com/m/2e568948bfe0c922/original/Overhead-view-of-bill-on-a-table-next-to-espresso-coffee-and-a-glass-of-water.jpg","extension":"jpg"},"date":"2023-09-28","link":{"url":"/en/individuals/my-life/tough-times/decease-bills"}},{"componentType":"articleCard","cardType":"article","cardSize":"medium","title":"Who has to prepare and submit an inheritance tax statement?","body":"Read the article","image":{"transformBaseUrl":"https://assets.ing.com/transform/e26b23c7-19fb-4994-a535-3e63bac81ca5/decease-inheritance-tax-1920","type":"image","width":1920,"original":"https://assets.ing.com/m/242f19b513c440bf/original/decease-inheritance-tax-1920.jpg","extension":"jpg"},"date":"2023-09-28","link":{"url":"/en/individuals/my-life/tough-times/decease-inheritance-tax"}}]}]}}}