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Author: Grace Turner Article source: http://www.articledeshboard.com/. Used with author's permission.
Who should make a will?
- Property owners: If you own immoveable property in France, ie. a flat, a house or land.
- French Residents: If you are permanently living in France at the time of your death you will be considered to have been "resident".
It is best to prepare a will in France for assets located in France, however there are circumstances when a foreign will may be used but it is likely be slow and costly. Do it yourself wills can cause unnecessary problems and expense. With both foreign and do it yourself wills the opportunity for tax planning may be lost.
How to make a will?
There are two main types of will:
- The authentic or notarial will, testament authentique.
This is a typewritten will prepared by a notary on the dictated instructions of the person making the will (the testateur) who then signs in the presence of either a notary plus two witnesses or simply two notaries. After signature, the will is registered in the French central register of wills.
- The holographic will, testament olographe.
This is the easiest and most common form of will. It is written in manuscript by the testator and is then simply dated and signed by him.
Gifts, legacies and beneficiaries
In France there is a system of forced heirship under the law.
- A defined proportion of the estate, r?rve legale, must be given to specified categories of heirs: h?tiers r?rvataires. Firstly, to your children and issue, and if there are no children or issue, then parents or, finally, grandparents. The amount they can claim will take into consideration the value of gifts given to them during your lifetime.
- The remainder of your estate can be left as you wish, quotit?isponible. It is possible to ignore these provisions but it is open to the h?tiers r?rvataires to bring a claim for their entitlement.
A spouse is relatively unprotected, though under new laws his/her position has been improved.
Grace Turner is a Director of www.aplaceabroad.com. The company specialise in selling property in Europe. For property in France www.aplaceabroad.com
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