HELPLINE: 
DTB Wealth Management launched a new inheritance service to take the pain out of bilingual will writing for British expats living in France.
British married expats living in France face particular challenges when it comes to inheritance – particularly those who have remarried blended families.
To help clients avoid the pitfalls, DTB Wealth Management introduced a new will and legal drafting service called HeirScript Solutions.
Through the service, couples can create tailored, bilingual wills – sometimes teamed with other documents, such as the donation au dernier vivant – to ensure that assets are properly distributed and tax burdens minimised.
British expats married in the UK are considered to be married under the marital regime séparation de bien when they become French tax residents. Although protective for each member, for example, one is not responsible for the debts of another, it can generate unequal wealth between the two spouses if one has inherited or accumulated a lot of wealth before the marriage.
“If you add children from previous unions to this and a a 60% tax on assets transmitted to non-blood line heirs, such as step children, the survivors can find themselves in a difficult situation,” said Daniel Butcher, founder of DTB Wealth Management.
If succession isn’t planned carefully, complications can quickly arise when one partner passes away – precisely at the time when they may lack the strength and desire to face up to painful administration.
“Inheritance is a major source of worry and so many clients come to us saying they can’t find an advisor that can give them an all-in-one solution that we decided to package a dedicated service,” said Daniel. “With HeirScript, we’re offering a fully compliant, easy-to-access solution that protects families and minimises tax headaches.”
The service, accredited by the CJA (Compétence Juridique Appropriée), covers: personalised will templates (documentation in French and English); notary support (a list of recommended notaries, including bilingual if necessary); and document preparation (such as the donation au dernier vivant).
“It’s important to remember that the French attitude toward wealth is shaped by the concept of patrimoine, a term with no direct English equivalent,” said Daniel. “It reflects the idea of generational wealth, intended to be preserved and passed down. Unlike in the UK, saving for personal retirement is less common, instead, wealth is safeguarded for future generations.”
The service, from determining the solution to providing the templates, will cost between €500 and €1,000 while the notary search and contact list is €150. Note that DTB Wealth Management is fully compliant with GDPR regulations to ensure the protection of all personal data.
“The entire service can be provided remotely so it’s easy to access anywhere in France,” said Daniel. “Anyone interested should get in touch and complete an introduction form so we understand their needs. Next, we’d have a complimentary video conference to discuss estate planning goals and then proceed with the document drafting.”