Investors in France who own property have ways of minimizing the inheritance tax payable by their heirs. This is applicable both to French residents and non-residents.The experts at our law firm in France can give you useful information about the inheritance law and the tax liabilities that arise after a property is passed on.
The valuation of assets for inheritance purposes in France
An important step in establishing the final value of the inheritance tax is to properly evaluate the assets of the deceased. This valuation process is applicable both to real estate and to donations (or gifts) and it is an important part of the inheritance planning strategy.
This valuation is performed with the help of a real estate evaluation expert and a French notary. A lawyer in France
can also assist you in order to streamline the process. The tax will be directly proportional to the value of the property and a lawyer is able to advise you on how to legally minimize this inheritance tax
The inheritance law in France
The inheritance tax is applicable as per the inheritance law in France
. Several provisions allow for the existence of allowances for surviving children and after all the calculations are made it is possible that no inheritance tax
is payable after all. The most important allowances are between a husband and a wife or in the case of a civil partnership. Personal allowances are possible, according to the individual’s relationship with the deceased (the largest allowance is for children).
It is useful to know that even if the savings from the inheritance tax
seem important at the moment of the inheritance, they can transform in much larger capital gains taxes after the property is sold, years later. The inheritance tax applies even if the deceased was a French resident
or not: even if the beneficiary of the estate was not a resident, the property was located in France and thus was liable for the applicable French taxes. The provisions of a double tax treaty can be useful in inheritance cases.
Our lawyers in France
can help you with detailed information about the inheritance tax as well as provide you with legal aid for drawing up a will.