I thought I had given an approximate indication. More than that gets too personal.
I’ve seen nothing that educates me other than Patrick’s point abou5 disinheriting a child and I have absolutely no desire to do that.
I’m confused!
I have 3 daughters but my husband and I have no children together (hubby has no children at all!)
When buying our place in France we were asked about succession and asked that if I die, it goes to hubby and after he dies to my daughter’s.
As they are his stepchildren, does that mean they’ll be heavily taxed?
Hi Karen,
Short answer - yes, if that is exactly what the notaire did . How did he arrange for that outcome, did you buy 50/50 ? -did he write in a clause of tontine? did you make wills? - if so it would go to your husband , but unless he wrote a will , it would go to his nearest relatives , your daughters would not be heirs ; if he wills it to them they would pay 60% tax. Look at your paperwork and see what was done.
Fortunately, it is easy to arrange a much better outcome. See a notaire , and say you wish to do a “donation entre époux” from you to your husband -it’s not necessary for him to do one. It costs about 140€. It ensures that at your death (should you die first ), he has a choice as to how he takes your part of the joint estate ,and not just the house.
His best choice would be to take all your assets in" usufruit" -life -interest ; this means he would have use of all monies in bank accounts etc. and right to full use of the house during his lifetime - your daughters would receive , at your succession, title to your part of the house (but not use) and a "creance " a sort of legal IOU, for all the liquid assets he received in "usufruit. At his eventual death , the daughters would receive the whole house and a sum equal to his usufruit of the liquid assets -all tax-free ( as they will have received the legal title to all these items from your succession with the allowances and rates between blood relatives).
Discuss this with a notaire , taking with you all documents relating to the house purchase and any will which you may already have made. If you already have a will which is not satisfactory the notaire may propose that you make a new one in the same terms as the “donation” mentioned above , and annulling all previous wills . Your husband only needs to make a will if he wishes to leave personal items to third parties, as you are automatically heir to all his estate.
If your husband is agreeable it would be sensible to put the maximum possible of all your assets into your sole name so they get included in the “donation”
Disabled beneficiaries & offspring requiring need to use trusts. Plus the fact that those who will clear up after us speak no french, and would be more comfortable dealing with a UK based solicitor so we have found one with significant cross-border experience. Our decision was based on fact that since we are currently in ok health, then the risk at present would be us both being killed in a car accident. Hence the need to think carefully about who and how the administration would be carried out.
We have a second home in France. When we bought it ,we Put it in the names of ourselves and our three daughters.one of these now lives in France so when we read
That there was a new EU law saying That you could take your French property into your English will,our daughters agreed to renounce their ownership so that we could leave the whole of the French property to the daughter in France. Our French Notaire told us the Brussels law didn’t apply in France and suggested that the children either sold us their share or have us their share or sell the house. The cost of the first two was in thousands. Any suggestions or commemys?
Hi Diane… mmm… sounds a right mix up…
As far as I am aware… UK never signed-up to the EU Agreement…about Inheritance…
certainly France felt this was unfair to UK folk who were Resident in France… in fact they decided it was unfair to make it only EU folk who were Resident in France… so France made it Law that all foreign folk Resident in France… could opt for the Inheritance Laws of the land of their birth (?)… but they would still be liable for French Inheritance Tax where applicable.
By the sound of it… you only have one daughter who is Resident in France… so it would only be her French Will (quoting the correct Brussels para) which could invoke the Inheritance Laws of UK (land of her birth ??)
Is there another Ruling… ???
You are English? And resident in the UK? Therefore it’s completely up to you who you leave your estate to as it will be governed by English Law.
So if you should die, your share of the second home will go to whoever you wish it to. However, your daughter who is in France will be subject to French Inheritance Law unless she has specified otherwise, so you do need to discuss what the options are should something happen to her.
The Brussels IV regulation says that in general (there are exceptions) the law of the country in which you are resident at the time of your death should apply to your estate. The UK did not sign up to this, so UK people living in France (like your daughter) can opt to have their estate dealt with under UK law.
I’m really not quite sure what your notaire is talking about as France did sign up to Brussels IV.
Diane… sorry if I made it sound as if UK owners could not use UK Law… I rather think there is some confusion with your Notaire… Jane and I have outlined what is currently on the go…
I suggest you have another chat with the Notaire and clarify everything back to square one…
What happens after Brexit?
Can you still make a will according to British law?
Or does the ruling only apply to EU nationals?
How about people who have already made British wills? Will they still apply?
My understanding is France signed up to this agreement, the UK didn’t. Brexit does not have any bearing on anything in this respect. Any nationality legally residing in France can choose to have their assets distributed under the rules of their mother country. French inheritance taxes will prevail however.
4 Likes
Agree. Nothing to do with Brexit. An international financial instrument.
I was just worried that as it’s called an “EU ruling” it would only apply to citizens of EU countries.
Here is an explanation for you
The UK remains geographically an european country, just not in the european union.
Thanks Jane!