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Inheritance Laws

Posted by jhenzel-180568 - Created: 14 years ago
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3 replies (Showing replies: 1 to 3)

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Posted by courtiot-185037 - 14 years ago

We bought our house in joint names, both our names are on the deeds, doesn't this mean that if one of us dies it goes to the other then?A good exercise for the heart is to bend down and help another up.

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Posted by TonyP-191937 - 14 years ago

This is also the case in France.  In addition there is a gift tax, so if an elderly couple gives say a house to a child while they are alive in order to avoid the child paying inheritance tax, the child has to pay a gift tax.

As well as that there is a wealth tax.  You have to pay a percent or so of your total wealth every year.  Given UK property prices, you may well appear very wealthy to the French tax office.

There are legal solutions to alleviate these problems, but it is important to do something about before you become French resident. Afterwards it is too late. You might be happy staying UK resident and having a second residence in France.  60% of the homes in Cannes are second residences, owned by people whose principal residence is elsewhere.

More and more wealthy French people are making Belgium their principal residence.  The taxes there on unearned income and property are quite low.  They are supposed to spend more than 182 days a year in Belgium, and they prove that by showing the Belgian electricity bill with a few KWh burned every two months.

Tony

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Posted by emma eyden - 14 years ago

It's a nightmare: I'm in the same position & was advised to buy with a S.C.I. company but it doesn't work if you become a resident in France. Apparently best to buy "en tontine" but you have, apparently, to tell the notaire this since he won't voluntarily advise you.  Also difficult to find a good notaire who speaks good English & is "serieux". 

Good luck & if you find anything useful pls get in touch since I'm trying to solve this problem myself.

Emma Eyden