Succession – The benefits of shared gift

Want to share all or part of your belongings? The benefits of shared gift that allows a successful transmission without risk of conflicts…

A vivos gift corresponds to transfer on one hand or entirety of its goods to its heirs called then “donees”. This transfer is when the donor is alive. In case you are married and you have the common wealth then it requires the agreement of two people. That will be a shared gift conjunctiva. Before to be very interested in the advantages of the vivos gift, let’s see the conditions to respect.

What prerequisites?

For this inter vivos gift is legally valid, it must be by instrument signed by the notary. Under this condition, there are other essential elements: the beneficiaries of this donation must all agree, only present goods are concerned (not dispose of movable or immovable property not acquired) and an unequal distribution is not element making inter vivos gift lapses.

Here you see the benefits of shared gift but also disadvantages. Also note that the decision is irrevocable. Quick Tip discusses many of sharing with all parties concerned, to avoid any conflict post-signing. This donation can be made for children, grandchildren or even stepchildren. That is to say that as part of an inter vivos gift conjunctiva, a child born from a previous relationship can benefit.

Note that no direct descendants, the inter vivos gift is possible. In this case, it can be to the benefit of heirs called “collateral” as brothers and sisters, cousins or nephews and nieces. In the case of a sole proprietorship, the inter vivos gift can be extended to third persons (not family member).

How are assets distributed?

• At this level, the benefits of inter vivos gift are obvious as this process has great flexibility. Specifically, the donation may affect a portion of the estate of the donor, it can also retain the usufruct (earnings perceive but he no longer owns) or the donor may give financial compensation to rebalance the distribution if it is unbalanced.

• A recipient who is aggrieved by the shared gift was able to claim a new division, within five years after the death of the donor. Attention all inter vivos gift is made subject to taxation as well as other forms of donations.

• But the tax system adopted corresponds to that in force at the time of the inter vivos gift. Hope these tips will have you informed!