Why are inheritance funds still in french bank account?
Why are inheritance funds still in french bank account?"
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NOTAIRES ARE RESPONSIBLE FOR CLOSING ACCOUNTS Reader Question: I have been left an inheritance from my brother, in both the UK and France. A solicitor dealt with the UK side, and a notaire
with the French house and bank account. Tax was paid to France on the house but nothing has been done about the money in the bank. Surely something should be paid on this? It is the
notaire’s job to calculate what each heir owes in French inheritance tax, and to collect payment of this tax from each person on their share, depending on rates and allowances which vary
depending on the family relationship. This should be dealt with at the same time as carrying out the formalities to transfer ownership to the heirs of their part of the estate (minus sums
going toward the tax, in the case of liquid assets). Read more: If my partner dies, can I still use our joint French bank account? French bank accounts of the deceased should have been
frozen, though the possibility exists for heirs to pay from an account certain pressing debts, such as relating to the deceased’s taxes, medical costs and funeral expenses. Remaining sums
should be paid out from the accounts when the notaire deals with the estate, and the account closed afterwards. For the closure to occur, the notaire should transfer to the bank a copy of
the acte de notoriété (document listing the heirs to an estate). If it appears that the bank account has not been dealt with correctly, you need to query this with the notaire.
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Why are inheritance funds still in french bank account?NOTAIRES ARE RESPONSIBLE FOR CLOSING ACCOUNTS Reader Question: I have been left an inheritance from my brother, in both ...
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