Is there any advice or experience someone can help me with?
My husband and I are downsizing, buying what will become (I expect) our final home in France. With no children, nor parents to take into account but wanting to provide the easiest path for either in a time of grief, we are leaning towards the tontine option. I am just wondering if anyone knows if this has tax or other challenges ahead.
I have seen there is a wealth of wisdom on SF and thank you in advance
We have just done precisely that - not for simplicity tho’ but because of blended family. If you have no plans to divorce then a reasonable idea even if strictly unnecessary if you have no children and are similar ages.
The only complication was having to prove the funds were 50:50, so had a bit of a paperfest.
Thank you all. I think we will proceed with the Acte en tontine.
Funnily enough, we have been 5 years in our present home in France with the purchase presumably en indvision but with no French wills . (Apparently the UK wills may not count.) I gather that with the demise of one spouse the Reserve may pass to a parent if there are no children! None of those either in our case, so possibly the State was rubbing its hands in anticipation
Yes, if no direct blood heirs then it goes to living parents of the deceased or siblings if no parents and so on down the line of blood relatives. If no one at all, it passes to the state unless stated otherwise to charity etc.
I thought that if you’re property was en indivision, and you had no will and didn’t change you’re marriage regime to communauté universelle, then in the case where you had no children and no living parents, the entire estate would go to the surviving spouse anyway ?
Of course changing the marriage regime or buying en tontine would greatly simplify things.