Inheritance questions

I am writing a new English Will as someone without any assets in France; has never been resident in France and is resident in England, for my 2 children and 4 grand children, Both my children are to be the Executors of the Will. This post concerns one child in France and her two very young children who are to inherit. (My other child and 2 grand children are in UK,). Halving my estate between the 2 families, I was going to leave 50% to my son and nothing to his children in England as he, I hope and believe, will use his inheritance to help his children buy properties when he considers they are old enough. He does not consider 18 to be old enough and I am inclined to agree. Double taxation on the money will be avoided if he lives 7 years after he has given to his children.
However, because of French Gift Tax if I give 50% to my child in France, the inheritance will be subject to Uk IHT and French Gift Tax as well (i.e. double taxation) if and when she gives to her own children - so was planning to leave 30% of estate to child in France and 10% to each grand child in France to inherit at 18 ( this being legal age to inherit) for only UK IHT would apply to their inheritance. These grandchildren are only 5 and 7 years old at present time. I am not looking to set up Trusts for grand children as Trusts do not exist in France.
What is the procedure if any for such an inheritance in France?
Is there any way the money is ‘safe guarded’ until the children are 18?
Should I send a copy of the Will to a Notaire (I recently sold a house in France so know a good one). What could/would a Notaire do regarding such an inheritance, if anything - such as checking on the grandchildren’s accounts every 6 months perhaps?
Would both the parents have the right to access the children’s inheritance before they were 18?
Thanks for any thoughts and information.

Talk to a tax inheritance etc specialist. You can give an untaxed donation to your child and possibly to grandchildren but not necessarily huge, I am sure there’s a solution but you would be better talking to an expert.

Thanks. I sent a message to the Notaire Clerc who had POA for sale of my house to ask whether Notaires are involved at all in non French inheritance cases for French resident minors but have not had any reply. I am just interested in the ‘‘administration’’ of the minors’ inheritance before they are 18.

I would actually talk to your UK solicitor. Surely this is about UK law, so you can state that funds to be placed in trust. They would be administered in UK

I don’t see it has anything to so with France unless child wishes to hand on their funds to grandchildren

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Thanks - I was trying to find out what arrangement, if any, is available to leave inheritance directly to minor grand children in France to be held presumably in bank accounts for them and which is monitored/protected by some sort of independent ‘‘legal individual/authority’’ there until they are 18 years old.

This might help. Since there is a double tax treaty between UK and France all should be well.

Jane - many thanks - still looking though! Hope for reply from Notaire’s Clerc I emailed. I cannot believe there is nothing in France that would cover what I am looking for.

@bingo12, without wishing to pry is your estate likely to be subject to UK IHT?

Yes -as in my original post.

I have had some information from another source which indicates there is nothing that seems to ‘‘safeguard’’ inheritance for minors in France. The parents have control over their inheritance until they are 18 years old. But it would seem the money would not subjected to French Gift Tax in my particular circumstances if I leave directly to grandchildren. Many thanks everyone.