8.5 inheritance

• Economie
• Middelbare school
• vwo
• Leerjaar 3

Economics

Program

1 - Short video

2 - Recap previous class

3 - Discuss homework

4 - New explanation + explanation

Short video

https://www.youtube.com/watch?v=9uUnMKkkVXQ

Program

1 - Short video

2 - Recap previous class

3 - Discuss homework

4 - New explanation + explanation

What do you need to consider when thinking about buying or renting a house?

What is a mortgage loan?

8.4 Living: rent or buy?

A mortgage loan --> a long-term loan with registered property as security

Registered property = immovable goods such as buildings and land

What is meant with a security for a mortgage loan?

8.4 Living: rent or buy?

Securtiy = a cover to reduce the risk that the loan provider does not get the money back

What are the financial advantages of buying a house?

8.4 Living: rent or buy?

When buying a house... 

 You build up capital (repayment of your loan or increase in value of house)

+ You can adjust the house according to your wishes

When renting... 

When renting a house you lose all the money for rent.. but you have more flexibility 

8.4 Living: rent or buy?

Compare as well the costs of renting vs the cost of buying a house

Housing allowance = contribution to rent costs for tenants with lower incomes which is provided by the government

Net housing costs:

- interest on the mortgage loan 

- maintenance costs of the house

- premiums for house insurance

- taxed imposed on the possession of the house

What is an inheritance?

8.5 inherit

Inheritance = concerns all the assets an liabilities left by a deceased person

When there is a will it is defined who gets what

If there is no will then the law of succession determines who will inherit what..

The legal partnerand the blood relatives are the only heirs (people who get something)  

Discuss homework

Homework: assignments 8.13 till 8.17

Program

1 - Short video

2 - Recap previous class

3 - Discuss homework

4 - New explanation + explanation

8.5 inherit

But what if you're married in community of property?

Than the remaining husband/wife received half of all the assets/liabilities

8.5 inherit

Law of succession states that if the husband/wife dies the remaining husband/wife and children are the legal heirs

All receive an equal portion of the inheritance 

But what if you're married in community of property?

8.5 inherit

Example: if a husband and wife have a house and one of them dies... 

The remaining person does not need to leave the house.. 

According to law the remaining partner and children can use their share of the house --> usufruct of the house

THe childres do not get their share in the house yet --> their shares are converted into money

On the value of the shares inheritance tax needs to be paid

homework

assignments: 8.18 - 8.20 + building block 8.1