Not sure if this was posted under correct place so re posting:
Hi can anyone recommend a financial advisor? I am going through a divorce and would like to know what options I have in the case of buying my partners share as I would like to keep the property. I have thought of asking family to help and gifting the house but I need to know the tax consequences for them. I have thought of borrowing equity which I believe means that I will be given a sum of money which will be taken back plus interest when the house is sold. I also have thought of a short term viager. I am looking for a good financial advisor to help clarify some of these questions. I doubt I will be eligible for a loan as I have a statue handicapped and therefore am on a low budget. The amount I need is about 100, 000 I have paid in 73% for the property. Thank you
Have you tried your own french bank financial services dept? They might be able to point you in the right direction.
My tuppunce worth: concentrate on the question and leave out the reasons for asking! Too complicated for an open forum.
First, where are you? You need one that you can talk with face to face. My advice is to search out a localpatrimoine gestion person and take it from there.
Be careful of āfinancial advisorsā in France. Most are tied to one or more institutions whose sole job is to sell you a product from their bag.
You need a āconsueilleurā who is truly independant but make their money initially from clint fees and then commission.
Every bank and insurance outlet have advisors. Avoid them. Equally, avoid the ads coaxing you that only they can lead you through the French financial jungle.
So please, trust only a patrimoine conseiller at this stage.
Thankyou so much Adam,
Could you also tell me
where can I find a patrimoine gestion personne?
Thankyou
I donāt disagree and you have given @fiona_mcclean some good advice, but we have seen quite recently when people tried to do just that, and were then criticised for not giving the full picture. A fine line to tread indeed.
You will have a Notaireā¦ so why not ask their adviceā¦ their local knowledge might be useful in locating the "right person/patrimoine gestione-conseiller/whateverā¦ just a thoughtā¦
Best of luck.
Exactly. Ask him or her.
David, totally agree, and yes, an outline is useful.
If you have a good relationship with your bank, why not ask your conseiller for advice initially. Does not stop you also asking elsewhere.
I do not understand āshort term viagerā. I thought that normally the person purchasing en viager is hoping that it will be a short term arrangement, and the person selling is hoping that it will confinue for as long term as possibleā¦
So did I, the system whereby upon the death of the owner (en viager), the property automatically goes to the person who has been paying them the payment each month for their income. You take your chance with that system in that the owner dosnāt outlive you or for far more years than you care to keep paying out for. I remember back in the UK, the local council sold off their housing stock allowing family members of their tenants to pay a monthly payment so when the tenant(s) eventually died, they got the house, a sort of long term saving/mortgage plan.