Ownership options

[Babe]

Hi Teamedup. Thank you for taking the time to reply to my posting. I have to say I quite often think my letters are invisible to anyone but myself, as from time to time I have posted on different Forums but rarely get a reply. The suggestion which you make about buying only in my name was the one we had more or less decided on, but then I read a posting at the start of this topic which seems to say that is possibly not an option. We have absolutley no worries about my Daughter ever "evicting" her Father or making any claims on him etc. All we want is for her to Inherit what is her's after we have both left this world. It really seems barbaric to say that a child has no legal right simply because they are not a blood relative, and to say that her Uncle could have more right to our property than she would is very hard to grasp. We understand, and fully intend to get "good" legal advise when we arrive in England/France. Already I have corresponded with a number of Legal firms via the internet, the frightening part is that we get different advice from each. I, like many other people who are concerned about this problem would I'm sure really like someone who has actualy experienced the situation to post a reply.  Surley there are people on the Forum who have been in our situation, and sadly lost a partner,  it is their feedback that I would like to hear, what happened after as far as the step-child? Thank you for your time. Anne 

[EGisvold]

Firstly, we do have our own lawyer and will discuss it all with her, but I do like to have some knowledge myself BEFORE I talk with a lawyer - makes it easier to understand what and why they say what they do say. The following scenario is what I THINK will achieve our goals (assumption: property worth about 300,000 Euros)

(goals: 1) Secure my wife from being kicked out by my blood line, 2) No inheritence tax for her if I die before her and 3) as little as possible inheritence tax for me if she dies before me)

1. We buy En Tontine

2. My wife owns 75% of the property.

Scenario 1: I die before her. She is secured from anybody "kicking her out" and she will not have any inheritance tax to pay (My share is worth 75,000 Euro). So this means goal 1 & 2 is achieved.

Scenario 2: She dies before me: I will inherit her share and have to pay inheritance tax on about 150,000 Euros and this is AS LITTLE AS POSSIBLE. So all the goals are achieved. What others will have to pay in tax when we die is of minor to no interest.  

We will of course also set up a joint French will.

[benson]

[quote]Although you have obviously done some homework on this, I think you definitely need to take specialist advice. The basic principle of French law is that you cannot disinherit your own blood line, an...[/quote]

Also consider your wife adopting the children (most lawyers seem to think this is still possible even after the age of majority, though some lawyers disagree). This may not fulfil all your conditions but it would certainly make things simpler and less costly in tax terms

 

Will do you have any further info on the adoption process in France??