Trust Management and Anticipation of Disability
The trust is legally defined as an operation by which one or more constituents transfer present or future property, rights or interests to one or more trustees, who keep them separate from their personal assets, act for a specified purpose, benefit of one or more beneficiaries (article 2011 of the Civil Code). It results in a transfer of “temporary and caused” ownership of the property in trust to the trustee and applies to property of any kind (movable, immovable, tangible, intangible). The trust contract is void if it proceeds from a liberal intention. This cause of absolute nullity has led…
The usufructuary may deduct from his income the share of the deficit corresponding to his rights in a partnership
The Conseil d'Etat has just ruled that in a partnership holding an immovable, which has not opted for corporation tax, the usufructuary of those units may, when the result of that partnership is in the red, deduct from its income the share of the deficit corresponding to its rights. It concludes that in the event of a break-up of ownership of the shares of a partnership holding a property, which has not opted for the tax treatment of capital companies, the usufructuary of such units is subject to the tax income on the basis of the share of property income…
The patrimonial audit of the risks of the manager
A leader, who is not in the context of selling his company, must still worry about its sustainability. Indeed, beyond the assignment that we choose, there is a transmission that we undergo (in case of divorce or death). Moreover, the occurrence of a state of vulnerability, even temporary, of the leader can have direct consequences on the management and governance of his company. The firm Christine TURLIER & Partners is at your disposal to conduct an audit of your heritage situation upstream of the suggestion of consolidated recommendations by setting up a family office patrimonial.
IFI: the new interest of cantonment
The Finance Act for 2018 replaced the ISF by the IFI (property tax estate) while offering the cantonment of the surviving spouse a new interest. In fact, henceforth the burden of the IFI weighing on the surviving spouse will depend on the cause of his usufruct: The usufruct is an application of the legal rights of the surviving spouse. In this case, the burden of the IFI will exceptionally be divided between the usufructuary spouse and the bare-owners. Either the usufruct comes from a will or a donation between spouses. In this case, the spouse will be subject to the…
