Making a lifetime gift to sons

Consider the tax implications of gifting property in France to your children before inheritance

My wife and I are UK residents but own property in France. Is it a good idea to gift it to our two sons instead of leaving it to them as inheritance?

In these simple circumstances there are no particular benefits from making a lifetime gift in advance of one’s death, unless the overall value of the property exceeds four times (two parents gifting a quarter each to two children) the threshold for estate duty (droits de succession), ie: currently €400,000 (4 x €100,000), in which case a reversionary gift (donation de nue-propriété) can reduce the likely estate duty burden; or unless there is other valuable property in France, in which case, a lifetime gift made at least 15 years before death can double the tax-free threshold.