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Article | 2017.03.27
Notarized donations
In a notarized major donation (simply called a donation in French), a person donates during their lifetime an asset to a beneficiary. Notarized donations are easy to set up; they are irrevocable and attested by a notarial deed. They take effect immediately.
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Article | 2017.03.27
Life insurance policies
When a life insurance policy comes to a term, the funds invested can be received by the beneficiary as a lump sum or as an annuity. In the event of death, the funds can be paid to the beneficiary. Life insurance policies are easy to set up and are a great way to combine saving and giving to charity.
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Question Réponse | 2017.03.27
What is the difference between a donation, a notarized donation and a bequest?
A donation: a gift of a sum of money or a movable asset that is donated directly to a beneficiary and requires no formal procedure.A notarized donation: a formal procedure whereby a person donates an asset to a beneficiary. It is only valid if attested by notarial deed. A notarized donation is irrevocable.A bequest: a procedure taking effect upon the passing of the testator whereby they transfer...
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Question Réponse | 2017.05.11
Can I amend or cancel my previous will?
You can cancel your will or amend it by codicil as many times as you like. The new will cancels the previous one. The codicil supplements the existing will. You can revoke or change either at any time.
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Question Réponse | 2017.05.11
If I decide to bequeath my apartment to the Institut Pasteur, how will it be sold?
Generally, all properties are sold at a public auction or by private sale, except those with a temporary non-transferability clause. The Institut Pasteur often takes part in public auctions with the support of the French Chambers of Notaries. Sometimes, real estate companies or notaries with a real estate activity are selected to handle the sale. Advertising is always published to make sure the...
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Question Réponse | 2017.05.11
What is the central register of Aix-en-Provence?
The Fichier Central des Dispositions de Dernières Volontés (Central Register of Testamentary Dispositions) located in Aix-en-Provence is a state archive of all the wills filed with French notaries. Your notary is responsible for adding your will to the archive. The content of the will is never disclosed; only its existence is recorded, for use by your notary for the settlement of your estate.
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Question Réponse | 2017.05.11
Who will settle my estate?
The notary in charge of your estate will be the same notary with whom you filed your will. Your notary will inform the Institut Pasteur that the estate has been opened and that a bequest has been made for the Institut Pasteur. The notary and the Bequests department will work closely together to settle the estate.
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Question Réponse | 2017.05.11
Will an inventory be drawn up after my death?
The Institut Pasteur organizes an inventory when it is the universal legatee or the legatee by universal title, and sometimes as well if the bequest concerns specific items or furniture. The inventory is drawn up before a representative of the Institut Pasteur with the notary and an auctioneer. The content of the home is then sold at a public auction.
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Question Réponse | 2017.05.11
Will the Institut Pasteur have to pay inheritance tax?
As a registered foundation, the Institut Pasteur is exempt from inheritance tax on assets or the portion of assets that are bequeathed to it. Bequests are therefore received "free and clear" of any taxes.
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Question Réponse | 2017.05.11
Should I name an executor?
You can name an executor to make sure your will is correctly executed and your wishes are respected. The role may not last more than two years. The executor can examine and sell the movable assets without any legal formalities. The executor is not remunerated, but may receive a specific bequest known in French as le diamant (the diamond) for their work. A friend or a relative or the President of...
