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TKenney, Ph.D.
TKenney, Ph.D., French Attorney (Avocat à la Cour)
Category: French Law
Satisfied Customers: 791
Experience:  Practicing law in France, 10+ years of experience on Paris Bar. Taught French Business Law in US
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I am purchasing an apartment in France. I want my children

Customer Question

I am purchasing an apartment in France. I want my children to inherit the apartment when I die with as little tax as possible. Should I create an SCI to buy the apartment with? What other ways can I reduce the tax burden on my children?
Submitted: 2 months ago.
Category: French Law
Expert:  T Perrin C replied 1 month ago.

Creating an SCI will make it easier to deduct any imput and costs linked to the apartment. It will also be easier for your children to dispose of their shares as they wish than being co-owners of the apartment when they inherit it. Yet they will have inheritance tax to pay on the net value of the apartment, whether it is in a SCI or not. Each child will have a full tax abatement on the first 100000 €. Depending on your age and life expectancy you may also consider donating a partial nude-ownership of the apartment to your children. Your donation is exonerated of any gift tax up to 100000 € per beneficiary. If you are married, each of the parents can give 100000 € to each child. Nude ownership donations enables you to keep all rights to use the property as you wish until your death. You may consider this if you believe you have a 15 year life expectancy...