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Discussion Starter · #1 ·
I came to live in France with my husband, and it has been 6 months by now. We consider buying a property in/around Paris. I have been extremely impressed by the French succession tax - my sister in law passeed away a few months ago (she was single), my husband inhirated quite a few stuffs but with the tax he needs to pay...wow...
As we have kids quite late, our kids just passed the age of 4 years old (twins). I am wondering if I should purchase the house/flat under the name of my kids, so in case anything happening to us (nowadays it seems people easily get cancers)? If I did this, my kids could have a place to live without worrying too much of tax they need to pay to the French government? Has anyone done this before? Is it a right direction, to purchase a property under the name of young kids?
Many thanks in advance for your kind advice/comments...
 

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The age of majority in France is 18 and until your kids come of age, I don't believe they will be allowed to hold property in their own names without a parent or guardian to hold the property title for them. (But as citlali says, you should talk to a notaire about this.)
Cheers,
Bev
 

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Even if it were possible as Beverley says thee would be under a guardian and it would limit your ability to sell if you wanted to or had to.
Under community property the kids are protected and will inherit the share the deseased parent automatically.
The kids are the direct heirs not the other spouse as under that regime spouses do not inherit from each other.
 

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The kids are the direct heirs not the other spouse as under that regime spouses do not inherit from each other.
Just a quick note - there was a big reform of the inheritance laws a few years back and spouses now do inherit from each other (but with pretty severe limits - no more than 25% of the estate if there are children in the picture).

If you're primarily worried about the inheritance taxes, most people take out a life insurance in an amount roughly equal to the estimated taxes. Life insurance proceeds are not part of the inheritance.
Cheers,
Bev
 

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Discussion Starter · #6 ·
Thanks Citlali's reply.

Many thanks to Bev. Yes I was worried about the inheritance taxes my kids will need to pay to government. Your advice is very helpful, as in where I am from, life insurance concept is rather different. This would be my back up option. I think I will try to see a notaire - because if house could be bought under young kid's names, I presume I could then skip in preparing not a small amount of fund just for the sake of having kids to have a property to live in France after my departure... In case it is possible, I will come back to report on this issue...

Cheers,
 

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The inheritance tax allowances between parents and children are a lot higher than between brothers and sisters. At the moment each child can inherit €100,000 from each parent with no tax to pay. Whereas, the allowance for brother/sister is only €15,932 - so your worries may be much smaller than you think. A notaire would help you with inheritance planning to protect your children.
 

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My grand parents had a lot of property and did what we call the" partages " while alive to go around he inheritance laws. They retained the use of the properties until their death and they paid the taxes on them but the properties were passed on with minimum tax if any..I do not know if things can still be done that way but ask the notaire,
The insurrance is also a good way to make sure the kids get money to pay wharever tax or expense there is. You can also get insurrance that will pay off the mortgage in case of death if there is a mortgage to pay.
I am sure the notaire will have options for you if you explain your goal, make sure you go over all the plus es and mines.
 
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