What are tax benefits of giving house to children?

Following the death of my husband my two children each now own a third of the house I live in and I have the usufruit (lifetime use) and the full ownership of the other third.

I am considering making my third over to them in order to reduce any inheritance tax in the future. I am a French resident and tax payer, my children are UK residents and tax payers. What are the tax implications?  U.C.

Since you are French fiscally resident, French inheritance law and tax will apply.

Unlike in the UK, in France it is the beneficiaries individually, not the estate, who pay inheritance (or gift) tax. The children will each have an allowance of €100, 000, and then they will be liable to inheritance tax on the excess as ...

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