Thursday, 13 January, 2022

How to transmit financial or real estate assets at a lower cost


Anticipation. This is the key word for successfully organizing the transmission of your financial or real estate assets. “Cash donations between a major adult and a donor under 80 years of age benefit from a reduction of a maximum amount of 31,865 euros”, recalls Morgane Mathot, heritage engineer at the Heritage Institute. An exemption which is added to the common law allowance of 100,000 euros per child. This makes it possible to bequeath 131,865 euros during his lifetime, every fifteen years, at no additional cost. To each of his children. It is preferable to go through a shared donation before a notary, specifies Me Nathalie Couzigou-Suhas. “Thus, at the time of death, the values ​​entered will not be called into question. In the case of a simple donation, the values ​​of the goods given are subject to a revaluation on the death of the parent. That of the children. who has received a good whose value has increased more than the others is accountable, vis-à-vis his brothers and sisters, of the capital gain taken by this good. “

But there are other ways to transmit at no cost. Including the dismemberment of property. “It is a question of giving the bare ownership of a property to his successor while retaining the usufruct, that is to say the enjoyment of the property, recalls Karl Toussaint, of Net-Investissement, specialist in asset consulting . The donor continues to live in the dwelling, but his heir owns the walls, he receives a property whose taxable value is lower than the real value. ” The value of the bare ownership depends on the age of the donor. The younger it is, the lower it will be and the lower the taxation will be. “Be careful, by giving the bare ownership of his main residence, the donor is no longer master of the property. If he wants to sell, he will need the agreement of his heir. And the sale price will be shared with the nudes. owners, “warns Catherine Costa, director of the wealth solutions division at Natixis Wealth Management.

599 FINANCE OPEN

SCI: gently

The real estate civil society (SCI) seems, it, adapted to the owners of a significant real estate heritage. “By providing housing to an SCI, it becomes divisible into shares which can then be given to his children (taking advantage of the reduction of 100,000 euros every fifteen years), underlines Karl Toussaint. If the value of the property is of 200,000 euros, in thirty years it will have been entirely sold in shares without inheritance costs. ” In addition, adds Catherine Costa, “the tax administration admits a discount of around 10% on the value of the shares of SCI transmitted since it is a less liquid asset. Generally, parents reserve the usufruct for continue to use the property or receive income from it. ” Consideration should be given to providing for co-management or for the surviving spouse to become successive manager of the SCI in the event of the death of one of the members of the couple.

The ideal is still to prepare the ground by creating the SCI before buying the housing. “The SCI must have a fairly low capital and that the couple acquires a property on credit. The property, placed for rent, will repay the bank loan thanks to the land income generated, advises Morgane Mathot. A few months after the purchase of the property. housing, while the SCI is highly indebted as a result of this acquisition, the parents will be able to start making the donation in bare ownership of the shares. The SCI being in debt, their donation value to calculate the transfer tax will be low. , however, that the transaction is not carried out solely for tax purposes. It would be considered an abuse of rights by the tax authorities. ” The administration has just stepped up its vigilance on this point.

Life insurance: simple

Life insurance is perhaps the least complex method of passing on part of your wealth. The sums paid to a beneficiary via a life insurance contract are not, it is the law, part of the estate. In reality, everything will depend on the situation of the insured, the type of contract taken out and the date on which it was signed. An inheritance tax allowance of 152,500 euros applies for all contracts for which the premiums were paid before the subscriber’s 70th birthday. In the event of an amount bequeathed greater than 152,500 euros but less than 700,000 euros, the beneficiaries are subject to a deduction of 20% on the net taxable portion, for all estates opened since January 1, 2014, after deduction. Beyond that, the levy rises to 31.25%.

Life annuity and tontine: risky

There remain two very perilous strategies. First, the life sale between a parent and a child. A possible act, but strongly discouraged by the majority of professionals. The tax administration ensures that the sale price of the property corresponds to the market price, then that the bouquet and the life annuity are actually paid. “This type of operation is the subject of special monitoring when the life annuity sale takes place for the benefit of a member of the family circle,” says Me Couzigou-Suhas. As for the tontine, it is very framed. The operation is simple: the surviving spouse obtains full ownership of an acquired property, once the other member of the couple has died. And he escapes inheritance tax. Unfortunately, the value of the property cannot exceed 76,000 euros at the time of death.

Julien Peronneau, 49, business manager: “I understood that I had to prepare for my succession”

“I am the father of five children, including two from a first bed. I had opened a first life insurance contract with my ex-wife as beneficiary. Thanks to the advice of Netinvestment, I modified the beneficiary clause for the benefit of my two sons. In addition, I optimized my donations, by opening three new life insurance contracts (less than 152,500 euros to enter the allowance per child) for my children in the second bed, with my current wife as first rank beneficiary. Netinvestment also helped me to set up an SCI with IR (income tax) to place my residence in Cap-Ferret. I made my children enter as a donation. In bare ownership. By my 70th birthday, it will thus have been entirely transmitted, without inheritance rights, and I remain the usufructuary with my wife. “

TO DO

Do it in advance

To transmit well, it is better to have time. Applicable every fifteen years, the allowances allow a household with two children to give, over this period, twice 200,000 euros. A sum already largely exceeding the average amount of transmissions in France. And there is life insurance …

NOT TO DO

Neglecting the tax risk

Legislation is getting tougher this year for taxpayers opting for “primarily” tax avoidance strategies. In the viewfinder, in particular, the family SCI with transmission to children without them contributing financially to its operation.

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Life insurance

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