About Individual Estate Planning
The following items should be considered in Individual Estate Planning:
- Preparation of U.S. and French wills and trusts
- Analysis of impact of French "forced heirship" laws
(enforced rights of children to a share of their parents'
estates) on existing estate plans
- Insurance trusts
- Lifetime gift program under U.S. and French tax rules
- French taxation of gifts and legacies from abroad
- " How adopting a French marital contract can harmonize
estate tax treatment in the U.S. and France at the death
of the first spouse
- We work closely with French Notaires to ensure that an
existing or a recommended estate plan would not run afoul
of French law or public policy
- Special problems of high net worth individuals
- Problems of U.S. citizens married to non-citizens of the
U.S.
We can help you adopt or adapt an estate plan that is consistent
with the law of your domicile. If that domicile is France,
you need to know exactly what the rules are and what is the
range of options for navigating through these shoals. We can
offer you solutions to the problem arising from the fact that
there is no "marital deduction" in France. Often,
the first order of business is to identify whether you are
in fact domiciled in France. Can French tax domicile be avoided
for estate and inheritance purposes? If avoidance of French
tax domicile is not an option, an estate plan can be structured
that will harmonize the two systems.
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U.S. and French Wills
- We review existing U.S. wills for compliance with U.S.
and French law.
- We draft U.S. and French wills for residents and non-residents.
- We work with French Notaires, when necessary.
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Trusts
- We review trusts to determine their validity and effect
under French law.
- We advise on whether trusts can be created while you are
a resident of France.
- We explain the U.S. rules affecting U.S. beneficiaries
of foreign trusts.
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The French "forced heirship" rules
- We examine existing estate plans to determine whether
and how they may be affected by the French "forced heirship" rules
(inalienable property rights of children).
- We structure or re-structure estate plans to conform with
the "forced heirship" rules as well as other special
features of the French law.
- We suggest ways to maximize the rights of surviving spouses.
- We work with French Notaires, when necessary.
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Administration of International Estates
- In general, we can act as intermediary between the foreign-based
client (or his/her lawyer) and the French Notaire.
- For U.S. citizens, we explain and assist in the U.S. probate
process and the French equivalent.
- We work with French Notaires to assemble assets, file
complete tax declarations, and reach closure of the estate
in France and the U.S.
- We arrange for estate property valuations.
- We help speed up the French probate process, which tends
to be longer than the U.S. equivalent.
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