Chimaera Posted July 20, 2011 Share Posted July 20, 2011 Having found a property to buy I am in the process of obtaining advice as to the exact way to structure the purchase in terms of endeavouring to obtain a satisfactory situation in the event of the untimely demise of my husband or myself.I appreciate that French inheritance laws are somewhat different to the UK but I should think that our situation is perhaps a little more common in this day age. To summarise, we have both been married before and each have two children from our previous marriages and no children together. We would like to be able to leave a life interest in our property and assets to the other in event one of us dies. When the surviving partner then shuffles off this mortal coil the estate would be left in equal shares to our four children.I have read about options for purchasing 'en tontine' or via a company 'SCI' or indeed making a change to the matrimonial regime. I am awaiting information from the Notaire on this but in the meantime would welcome any comments/advice on your experiences.Many thanks! Link to comment Share on other sites More sharing options...
parsnips Posted July 20, 2011 Share Posted July 20, 2011 [quote user="Chimaera"]Having found a property to buy I am in the process of obtaining advice as to the exact way to structure the purchase in terms of endeavouring to obtain a satisfactory situation in the event of the untimely demise of my husband or myself.I appreciate that French inheritance laws are somewhat different to the UK but I should think that our situation is perhaps a little more common in this day age. To summarise, we have both been married before and each have two children from our previous marriages and no children together. We would like to be able to leave a life interest in our property and assets to the other in event one of us dies. When the surviving partner then shuffles off this mortal coil the estate would be left in equal shares to our four children.I have read about options for purchasing 'en tontine' or via a company 'SCI' or indeed making a change to the matrimonial regime. I am awaiting information from the Notaire on this but in the meantime would welcome any comments/advice on your experiences.Many thanks![/quote]Hi, Given that you are in a UK marriage and in view of the outcome you wish , then the simple and inexpensive way is to buy in "indivision " ie. 50/50. You definitely don't need to buy in tontine or an SCI, or change marriage regimes (given your aims). At the time of purchase you should ask the notaire to do a mutual "donation entre époux" (280€). This will give several options to the surviving spouse at the first death , including taking all the deceased's estate (including 1/2 house) in life interest. To ensure full rights over all non real estate assets the donation should include the words " pour tout bien mobilier en quasi-usufruit au sens de l'art. 587 code civil" or similar. You must of course discuss this with your notaire (if possible english-fluent). Link to comment Share on other sites More sharing options...
Chimaera Posted July 21, 2011 Author Share Posted July 21, 2011 Many thanks for your reply parsnips. I wasn't aware of this and am most grateful for the information which I can ask the Notaire about. Link to comment Share on other sites More sharing options...
Mikep Posted July 22, 2011 Share Posted July 22, 2011 We followed the route described by Parsnips on the advice of our Notaire - everything satisfactory so far! I believe it also has the advantage that you leave some of the value to the children on the first death, taking advantage of the Inheritance Tax allowances, without the survivor losing the right to live there. Link to comment Share on other sites More sharing options...
PaulT Posted July 22, 2011 Share Posted July 22, 2011 Our Notaire told us we would need to change our marriage regime and told us to be in his office for the signing of the Acte half an hour before so that he could do the change. Link to comment Share on other sites More sharing options...
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