Advice about making a will

[Robson]

I have decided to make a will. I need simple advice about the following situation. I am a UK national with a carte de séjour I am a French-resident paying tax in France. I own a house in Britain, along with financial assets in sterling currency there. I also have a French bank account. I am childless and unmarried, and ideally would choose just to leave everything to my three siblings (who live in the UK). That's it from my side. I want to know what my next moves should be in order to get this moving. Also any potential pitfalls that I might face. Thanks.

[anotherbanana]

Easiest solution is to go see a notaire who will advise you on the appropriate formula of words which should be hand written.The notaire can then register it for you, at a cost of €50 odd.

[pomme]

This is a very good explanation

https://www.french-property.com/guides/france/finance-taxation/inheritance/planning/european-succession

You may decide you do not need it included, but if the will includes mention of EU regulation no. 650/2012 of 4 July 2012 you can opt for the succession under English/Scottish rules rather than the French succession law.

If you include that regulation, you can leave your assets to whoever you want in whatever proportions you want. Without it, under French succession your siblings would have to receive equal amounts.

But the taxes for your UK and French financial assets (but not your UK property) will still need to be paid in France according to the French inheritance taxation rules, so can be up to 60%. Even siblings might be taxed at up to 45%

https://www.french-property.com/guides/france/finance-taxation/inheritance/taxes/liability/

[NickP]

Thanks pomme, I've bookmarked your post as we are just about to sort out our legal inheritance affairs. We had arrangements in the UK, but as we're now residents in France they need revising. Your post is a great help.