La société dans le patrimoine - Indico

Transcription

Inheritance – Wealth Management
CERN
D. GARIOUD – F. CAMPAGNE
Plan
Inheritances
l Questions
l Wealth management (estate
development)
l Questions & answers
l
18 mars 2010
CERN : Présentation Prisme Conseils.
2
Inheritance
French inheritance
l International inheritance
l Identification of the Marriage Settlement
l Case studies :
l
Divorce
l Cohabitation
l
l
Our advices
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Example used
English man married with a french woman,
without prenuptial agreement.
l They live in France, in a house they purchased
together.
l They have 2 children, both live in France.
l Wealth :
l
l
l
House : 500 K
Savings : 300 K
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French inheritance
l
After death, 4 steps :
Who are the heirs ?
l What is part of the estate in case of
inheritance ?
l Tax return
l Share the inheritance
l
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Death – opening place of the
inheritance
Main residence of the deceased and his
spouse,
l Not necessarily the place of
death…(hospital, holidays…)
l
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French inheritance – Who are the heirs ?
Is there a Will ?
l Devolution of property
l
l
Rule : depends on country
Rank heirs
France
Other
Spouse
2
1
Children
1
2
Others
3
3
l
Privileged heirs or not (in case of will)
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Legal – Three key words
Usufruct : Ability to live or rent
l Bare ownership : own the object, without
the right to use it.
l Full ownership : both !
l
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French inheritance – what is part of
the estate in this case?
l
The assets :
The real estates,
l The liquid assets,
l The investments (not investment policies
insurance)
l
l
The liabilities :
l
l
The debts
The anterior gifts
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French inheritance :what is part of
the estate ?
l
Our example :
Real estate 500 K / 2 = 250
l Savings 300 K / 2 = 150
l
l
Total : 400 K
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French inheritance : Share of heirs
l
Remember example : one spouse, two
children.
Without will
Option 1
Option 2
Spouse
100 %
25 % FO
USUFRUCT
Each
child
50 % Bare
Ownership.
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With will
Between
0
And
75 % Usuf. +
25 % FO
37,5% FO 50 % FO 37,5 %
Bare Ownership
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French inheritance : Tax return
Inheritance taxes depend on the part of
each heir,
l 6 months to pay taxes after death’s
month.
l
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French inheritance : the share of the
estate
take into account the wishes of each heir
l Possible compensations, rewards.
l Can take a long time, even few years
depending on the agreement between
heirs
l
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Inheritance
French inheritance
l Case studies :
l
Divorce
l Cohabitation
l
l
Our advice
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International inheritance
Situations linked to international
inheritance
l Principles
l
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International inheritance :
definition
l
An inheritance is international when :
There are estates in more than one country,
l OR
l Deceased and at least one heir do not live
in the same country.
l
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International inheritance :
principles
The same as for France,
l 2 steps : Civil and fiscal (aspects)
l
l
Legal topics :
Who are the potential heirs ?
l What is part of the estate in case of inheritance?
l
l
Fiscal topics :
l
How much is the inheritance tax ?
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Inheritance
French inheritance
l Case studies :
l
Divorce
l Cohabitation
l
l
Our advice
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Which marriage settlement
Is there a prenuptial agreement ?
l Otherwise, one has to refer to « The Convention of La
Haye » :
l Wedding location
l First location of the newly weds
l Example :
l France : Community of all wealth created since
wedding inception
l UK : Existence of 2 distinct estates
l Switzerland : 2 distinct estates with an indemnity
process in case of termination.
l
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International inheritance : tax
Existence or not of a bilateral tax agreement
between the 2 countries.
l Generally speaking :
l
l
l
l
Real estate : in the country where it is located,
Non real estate is taxed in the country of the
deceased person
Rates :
l
Variable depending on the countries and the
relationships with the heirs
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Inheritance
French inheritance
l Case studies :
l
Divorce
l Cohabitation
l
l
Our advice
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Case of divorce
The situation will depend upon the
existence of prenuptial agreement and
upon the marriage settlement
l What is the origin of the assets ?
l
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Case of cohabitation
l
Civil partnership (or similar)
l
l
It depends on the country, and the way
they consider the partnership.
Persons in cohabitation :
Generally speaking :
l Not concerned by the inheritance,
l Max inheritance tax if there is a will !
l
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practical advices
Organize your inheritance before you die
(share, will…)
l For the will : write it alone, or with the help of a
notary.
l
Organize proxies before you have need it,
l Protect your spouse with an investment policy
insurance or life insurance.
l And if you need advices…
l
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Our advice
Wishfull thinking is not a legal right !
l Think,
l And be proactive !
l
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Questions ?
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Plan
Inheritances
l Questions
l Wealth management (estate
development)
l Questions & answers
l
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Wealth management
Estate planning
l Realistic objectives
l Possible keys
l Conclusion
l
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Estate planning
Establish desired objectives
l Analyse the current situation
l Wealth management proposed
l Implementation
l
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Desired objectives / 1
l
Create additional revenues
Now
l Later (post retirement)
l
l
Dispose of savings :
Graving safely,
l With additional risk
l
Develop your wealth
l Optimize taxes (rent, wealth tax…)
l
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Desired objectives / 2
l
SCI :
l
l
l
l
l
Spousal protection,
Then children.
Can have a tax advantage in international asset
More binding
The investment policy insurance
l
l
l
Very advantageous,
Especially before 70 years old
Can protect a partner or the person of his choice
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Possible keys
K
K
Investments :
Insurance life products
Financial assets
Beneficed tax exemption regime
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Protect the
spouse
L
Less taxes
Real estate :
Investment in rental property
Wealth
L
Savings
Real estate :
Acquisition of the main
residence
Futures
revenues
Immediate
revenues
Conceivable keys
L
☺
K
☺
☺
L
☺
K
☺
☺
☺
☺
☺
☺
☺
☺
☺
K
☺
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Conclusion
Enjoy your life !
l Each case is different,
l Better act than take the burden…
l
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Questions ?
l
We remain available after the
presentation,
l
Thank you for your attention.
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La société dans le patrimoine - Indico

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