Wills and Inheritance Law

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Wills and Inheritance Law

Disclaimer
Law is complex and every effort has been made to offer information that is current, correct and clearly expressed. The information in this summary is intended to be no more than a general overview of the position and certain details have been deliberately omitted. The contents of this page should not be taken as an authoritative statement of French law and practice. Neither the author nor the publisher are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. This text is not intended to render legal, accounting or tax advice. Readers are encouraged to seek professional advice concerning specific matters before making any decision.

Who should make a will?

• French Residents: If you are permanently living in France at the time of your death you will be considered to have been "resident".
• Property owners: If you own immoveable property in France, that is, a house, a flat or land.

If your own moveable property in France, for example a bank account, or company shares, a foreign will may be sufficient, but only if you are not resident in France.
Generally, it is best to prepare a will in France for assets located in France. There are circumstances when a foreign will may be used but it is likely be slow and costly. The opportunity for tax planning might also be lost.

How to make a will?

For all practical purposes there are two types of will:

• The holographic will, testament olographe.
  This is most common form of will and it is also the easiest. It is written in manuscript by the testator and is then simply dated and signed by him.
• The authentic or notarial will, testament authentique.
  As the latter name suggests, this is a typewritten will prepared by a notary on the dictated instructions of the of the person making the will, the testateur, who then signs in the presence of either a notary and two witnesses or simply two notaries. After signature the will is registered in the French central register of wills.
• There is a third type of will known as the mystic will.
  It is almost never used, but worth mentioning for its name alone.

Whichever type of will you chose you should always instruct a professional to take your instructions and prepare the document. Do it yourself wills can cause unnecessary problems and expense, and the opportunity for tax planning can be lost.

Gifts, legacies and beneficiaries

In France there is a system of forced heirship under the law.

• A defined proportion of the estate, réserve legale, must be given to specified categories of heirs: héritiers réservataires. Firstly, to your children and issue, and if no children or issue, then parents or, finally, grandparents if there are no surviving parents. The amount they can claim will take into consideration the value of gifts given during your lifetime.
• The remainder of your estate can be left as you wish, quotité disponible. It is possible to ignore these provisions but it is open to the héritiers réservataires to bring a claim for their entitlement.

A spouse is relatively unprotected, though under new laws his/her position has been improved.

Having made a will you can at any time change your mind and instruct your legal advisor make a new will whether to add new beneficiaries or to take advantage of changes in tax exemptions and allowances or changes in your financial situation.

Prepared by: Simon Huxford, English solicitor
Gordon S Blair Law Offices, 3 rue Louis Aureglia BP 449, MC 98011 Monaco
Tel: + 377 93 25 85 25, Fax: +377 93 25 79 58
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