Organising an international succession

The situation

Our support

1. 01

   Mapping the family and the international assets

   We drew up an inventory bringing together:

   • the make-up of the family and each member’s place of residence;
   • the spouses’ matrimonial regime;
   • prior wills and gifts;
   • assets held in France and abroad;
   • accounts, shareholdings, life insurance policies and other investments;
   • the advisers and financial institutions to be contacted in each country.

   We then determined the law applicable to the succession, identified the heirs and analysed the necessary formalities, in particular certificates of inheritance, succession certificates, translations and registration steps.

2. 02

   Determining the tax due in each country

   We analysed the inheritance tax potentially payable depending on:

   • the deceased’s tax residence;
   • the heirs’ residence;
   • the location of the assets;
   • any applicable tax treaties;
   • taxes paid abroad.

   Under French law, the scope of taxable assets depends in particular on the deceased’s tax domicile and, in certain situations, on how long the heir has resided in France.

   Where tax is due both in France and abroad, we examined the mechanisms available to eliminate or limit double taxation. Tax paid abroad on assets located outside France may, in particular, be credited against French tax under the conditions set out in article 784 A of the CGI.

   Point of attention. An international succession is not simply a matter of applying several tax scales. The civil, tax and reporting rules of each country involved must be coordinated.
3. 03

   Preparing a roadmap for the heirs

   Finally, we drew up an action plan setting out, for each jurisdiction:

   • the professionals and institutions to contact;
   • the documents to gather;
   • the returns and formalities to complete;
   • the assets to value;
   • how tax paid abroad would be credited;
   • the order in which the steps were to be carried out.

   This roadmap was prepared in coordination with the notaries, foreign advisers and financial institutions concerned, in order to facilitate the future administration of the estate.