Estates are typically transferred after death, but it is also possible to plan for the transfer of one’s assets and to give away a portion during one’s lifetime, which allows your loved ones to take advantage of them at a younger age and also reduces tax implications. In an international context, the transfer and management of assets have particular characteristics related to the various laws that may be applicable.
An international inheritance is an inheritance that includes a foreign element that may be connected with the nationality of the deceased, the domicile or habitual residence of the deceased, the place in which the property is located, or the existence of a foreign will.
The European Regulation on inheritances of 4 July 2012, which went into effect on 17 August 2015 makes it possible to determine the law that will apply to a deceased person’s estate. In addition, it provides for rules on jurisdiction and on recognition and enforcement of judgments, particularly through the European Certificate of Succession. Lastly, it offers a person the option of choosing the law that will apply to his or her estate through a professio juris.
Estate planning requires knowledge of the different mechanisms provided by law in order to determine which choice is most appropriate for one’s individual situation. This is especially important in a civil law context because it allows conflicts among heirs to be avoided, property to be transferred and conserved within a family, and an heir or partner to be favored. It is also important from a tax perspective, since it reduces the amount of inheritance taxes that will be owed.
When working with an international family, we need to verify that the solution we reach will be recognized in another country with which the family has close ties.
Indeed, methods of transferring estates differ depending on the country. Donations of future assets and inter vivos gifts are examples of options under French law that should be used with great care in an international setting because they are not recognized in all countries.
In terms of taxes, estate planning will differ depending on which countries France has entered into bilateral tax agreements with regarding inheritances and/or gifts and which it has not.
The Alexandre Boiché Firm will help you plan your estate and determine what best suits you and your loved ones. We will make sure the plan will work, in terms of both civil and tax law, in countries where you have ties or where you plan to move.
Different types of unions exist, each of which leads to different rights and duties for the individuals in the couple. In an international context, we need to make sure that the union will be recognized both in France and abroad.
How a couple separates depends on the type of union they chose. For married couples, we need to pay attention to the jurisdiction in which the divorce will be filed.
Children may be affected by various matters that fall under international family law (habitual residence on the territory of a foreign country, movement across a border, etc.)
To protect a vulnerable adult, it may be necessary to resolve issues of private international law, such as jurisdiction, so that a protective order may be issued and recognized.
In an international context, the question of what consequences a foreign judgment will have in France often arises.