Using a UK Will after August this year.

[idun]

misposted

[lindal1000]

As I understand it, in France if you father a child that is recorded on your 'livret familial ' and stays with you for ever. In the UK that information is not recorded against your name, so can only be found if someone searches for it.

Hence for children you have never 'known' then unless they do their own searches it is hardly lightly to come to light. Of course if anyone finds out it could be complicated but if you're dead it's not going to affect you. Our notaire asked us if we had kids, we said no, which is true and that was the end of it.

[parsnips]

[quote user="lindal1000"]All the more reason to liquidate all your assets and spend it all! Which is what some French people we know are doing..and actually spending it on kids by buying things for them. The French guy who owns the local Chateau that used to be a nursing home, has fallen out with all his kids and selling off what he can for whatever he can get . I think we are probably the first property owning generation, and will probably be the last for a while as well so maybe it is more complicated.

Neither OH or myself have kids and we have have one niece between us who doesn't need the money, so we are trying to make sure we spend it all before we both go.[/quote]

Hi,

     You have touched on one of the key issues here.     Anyone coming to France who has a family with children from previous relationships should consider renting their permanent home here.    It is the fixed assets -house and land- which can cause the problems.   If instead of sinking all their assets into buying and -often- renovating a house , they rent a new, energy efficient house , they can then arrange their savings in such a way that they , in effect, pass to the surviving spouse with full rights , while still , eventually going to the children whether natural or step without 60% IHT.

    This is done either by using Life Assurance plans written in "démémbrement" ie. cash goes to  beneficiary of a quasi-usufruit- (spouse)who can use it as they choose , and , if desired , all or some children (or anyone else  you wish to benefit , including step-children) get a "créance "-IOU- for their share, which they claim from the surviving spouse's estate at their succession (with a 152 000€ tax free allowance).

    Other assets can be dealt with in the same way by testament , where the assets are all liquid and can be put into a quasi-usufruit ; or , indeed by a suitably worded "donation entre époux".

    Another, recently revived, method  of passing all to the surviving spouse, including real estate, is the  testament with "legs residuel" where assets are left in two stages ; the 1st beneficiary (spouse) has full rights to sell , spend, mortgage or otherwise consume the assets , with the proviso that they cannot be given away , or bequeathed to anyone other than the 2nd beneficiary (ies) usually the first deceased's children, who take whatever is left of the first deceased's estate at the second death -as if it had been left to them by the first deceased-- (so ensuring that where the couple have arranged their assets 50/50 , no child /step-child is caught for 60% tax).    The children of the second deceased inherit his/her own assets in the usual way.

    If you pose questions about these arrangements to a good notaire he/she should give you full details ;   but unless you ask you are unlikely to get such information volunteered.