2023-11-22 09:52:27
As its name suggests, an inheritance is the act of succeeding someone, most often a parent from whom you inherit. It is therefore a question of taking over an inheritance, of taking possession of a heritage. But the transmission operation involves the payment of rights. Rights which vary depending on the conditions in which the inheritance takes place.
But what are the best guidelines to follow to limit these rights that the successor will have to fulfill? If we were to take the example of the transmission of real estate assets from parents to their children, we should know that this can be achieved through a donation during the donors’ lifetime. In this case, the operation allows you to benefit from attractive tax reductions.
In France, it is possible to donate every 15 years without having to pay donation tax, up to certain amounts. Apart from this particularity, there are several reductions when giving during one’s lifetime, between parents and children. The estate benefits from a reduction of 100,000 euros per parent and per child. This can therefore represent a significant saving on inheritance tax to be paid later.
An appraisal of the property to reduce inheritance taxes
In the case of an inheritance upon death, the latter follows certain procedures, the first being the establishment of the value of the real estate at the time of death to calculate inheritance taxes. This estimate takes into account the price of the property on the market. It is important to be accompanied by a professional to obtain precise expertise, especially if the property is damaged, to determine the value of any work to be carried out. This estimate will make it possible to set the amount on which inheritance tax will be calculated.
Note that in France, the beneficiaries of the inheritance are the compulsory heirs, namely the descendants and the surviving spouse, if, of course, the deceased spouse had not drawn up a will during his or her lifetime. Be careful, however, with inheritance when it comes to real estate located abroad! The rules may differ from one country to another. It will therefore be necessary to follow the legislation of the country concerned regarding inheritance. It is recommended to consult an international notary or specialist lawyer to ensure compliance with local procedures.
The trick of the family real estate company
On French soil, other procedures can also help you reduce or even exempt you from paying inheritance tax on the transfer of real estate assets, such as creating a family real estate company (SCI). The strategy makes it possible to transfer real estate without having to pay inheritance tax. How ? In fact, the SCI makes it possible to register real estate in the name of the partners making up this company and to manage its assets jointly. The shares can then be passed on over the years, reducing inheritance tax.
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