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Inheritance Issues in France

As in many other countries, in France there is an inheritance tax. It is paid even by non-residents. The amount can be up to several tens of thousands of euros.

Only certain family members can avoid paying inheritance tax. For all other workarounds are not provided, except in cases when you refuse to accept the property. However, there are a few legitimate ways to make sure that the heirs will pay less.

In France, inheritance taxes are paid by the heirs. The amount of tax depends on how closely related the heirs of the deceased are, and thus there are no exceptions. When the French co-own a property, both spouses have equal rights to it. After the death of one of spouses all ownership rights are transferred to another spouse without paying taxes. Only after the death of the other spouse, the property is transferred to children born in this marriage. They will have to pay inheritance tax.

Inheritance tax in France will the smaller, the closer the kinship of the heir with the deceased is. For spouses, there are benefits, but couples that cohabite together are treated as strangers and pay taxes in full.

No matter who you are, these taxes are high, ranging from 20% in the case of a straight line to a staggering 60% for heirs who are more distant relatives or heirs, who are not related at all. In order to define the sum of inheritance tax, the property is estimated by the market value.

Clarification of tax rates in each case is a complex matter. There are ways to mitigate their consequences. Keep in mind they require careful planning and professional advice.

When buying property in France, it is recommended to consult with a professional on these issues.

There are big differences when it comes to real estate matters between France and other countries. Do you know what the two things you cannot escape no matter where you live? Death and taxes. And if everything is clear with the death, the taxes can be significantly reduced using the correct approach.

One of the ways to reduce the inheritance tax is the transfer of property as a gift to children in full or partial ownership. If the donor is less than 65 years, the discount on the tax will be 50%, and if the person is from 65 to 75 years, the discount will be 30%.

In general, if you want your heirs not to sell the inheritance itself to pay all due taxes, study this issue thoroughly before buying a property in France.

Real estate agents will give you good advice on how to reduce the inheritance tax and will answer all your questions.

As in many other countries, in France there is an inheritance tax. It is paid even by non-residents. The amount can be up to several tens of thousands of euros.

Only certain family members can avoid paying inheritance tax. For all other workarounds are not provided, except in cases when you refuse to accept the property.

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Assignment ID
100000270
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CREATED ON
4 July 2016
COMPLETED ON
5 July 2016
Price
$21
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Essay Example Comments
Janeee
19 June 2015
Janeee
Yet another fantastic job done on a rather difficult paper. I will most definitely use this writer in the future. Thanks again for the great paper.
ned94
19 June 2015
ned94
Very well written!
R00fer
19 June 2015
R00fer
Excellent! Just what I asked for.