French succession and wealth planning
French forced heirship rules, dating back to the Napoleonic era, means that an individual’s French assets may not pass to their loved ones, regardless of what it says in their will, unless they receive competent specialist advice.
Even if the terms of the will match the will-maker’s intentions, there may be significant adverse tax consequences of up to 60%.
By using the provisions of EU Regulation 650/2012 (sometimes called Brussels IV) it is often possible for a will-maker to choose the law of their nationality in their will.
For many clients this means that they can choose for Anglo-Welsh, or Scottish or Northern Irish law to apply, or indeed any other law, provided it is the law of (one of their) their nationality/s, rather than default to (often problematic) French succession law, but where different lawyers are used for the French and UK assets, or where non specialist UK or French lawyers are used, technical mistakes arise and the choice of law often fails.
At Knights, our specialist international and cross-border lawyers provide holistic succession and taxation advice for both the French and UK assets, ensuring the will-maker’s wishes are met and the tax is fully understood.
Where a choice of law is not possible, not desirable or ineffective, Knights can advise on alternative succession structures including matrimonial property regimes and usufruits.
“This area of law is so specialist that we often tell foreign lawyers what the law is in their own jurisdiction.”
Daniel Harris, Partner
Bespoke UK–France Probate and Estate Administration
When a friend or family member passes away with assets in France, the estate in France should be managed as a whole with the estate in the UK (and elsewhere if appropriate) to avoid costly adverse tax and succession consequences, where uncoordinated individual lawyers are appointed across jurisdictions.
Knights holistic cross-border probate service ensures the value of assets is maximised, and tax is minimised through an accurate application of the applicable private international laws.
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