The costs of an inheritance
Notary or lawyer (or both): By whom and at what cost?
The intervention of the notary is not free of charge and the costs it generates, called “émoluments” are imposed by the State and vary according to the services provided.
The lawyer’s intervention is not free and the costs he incurs, called “fees”, are free and vary according to the services requested.
If a search for heirs is necessary, it represents an additional cost and this mission is entrusted to the genealogist who is generally remunerated by a percentage of the inherited assets. This rate is free.
Once the heirs have been designated, the first act to be done to establish the death, and the identity of the heirs is necessarily notarized. It is called “acte de notoriété” and the price is currently fixed at 67,92€ including tax.
Depending on the assets of the inheritance, it may be necessary to draw up an inventory, the cost of which will be €90.55 (including tax) if it is done by notary. It can be done by another professional, in fact, the intervention of the notary is not mandatory.
The other acts carried out by the notary have a price based on the value of the gross estate assets.
The VAT rate on the émoluments is 20%.
These acts are the exclusive competence of the notary only if they concern real estate assets. They sometimes require the intervention of the lawyer to obtain the judicial validation of the act.
If they do not concern a real estate asset but only cash or company rights, they will not require the intervention of the notary. They can, however, be carried out by the lawyer whose fees are free and fixed directly between the client and the lawyer.
What additional costs can arise from a contentious Inheritance ?
Inheritance can bring old family disputes to the surface. It is therefore not uncommon for heirs to try to dispute the distribution of the estate to the detriment of others.
Inheritance disputes may also arise in relation to the appraisal of the assets and the tax regime (especially when the deceased is domiciled in another country).
Regardless of the outcome of the legal proceedings, costs will be incurred.
Thus, if one of the parties decides to hire a lawyer, the lawyer’s fees must be taken into account. These fees vary from one lawyer to another.
What costs can be saved by the intervention of a lawyer as an advisor before the inheritance?
Inheritance can be anticipated and managed in advance. This allows substantial savings, in particular on the sums owed to the tax authorities for inheritance tax, but not only.
This anticipation also often makes it possible to avoid litigation because the heirs will have been involved in the decisions that concern them.
Your lawyer can help you establish a precise patrimonial diagnosis and anticipate the transmission of assets. Do not hesitate to consult him.
Our lawyers are at your disposal to answer all your questions and advise you. Our meetings can be held in person or by videoconference. You can make an appointment directly online at www.agn-avocats.com.
AGN AVOCATS – Inheritance Department
09 72 34 24 72