TRUSTS-FIDEICOMMIS

We have developed a recognized Trusts practice that enables AlterTax to advise clients on the tax consequences arising from Trusts.

Despite French law’s recognition of trusts (to which no inheritance consequences are attached) and developments in the reporting obligations of trust beneficiaries, the treatment of the consequences of trusts under French tax law continues to involve many areas of uncertainty, creating serious risks in the event of challenges by the tax authorities.

The assistance of a lawyer on the highly sensitive issues raised by trusts, and the guarantee of professional secrecy for clients, is strongly recommended to avoid potentially serious consequences for trust beneficiaries or settlors.

AlterTax lawyers are regularly called upon to advise trustees, settlors or beneficiaries on :

• French tax consequences of their Trust: gift or inheritance tax, IFI sui generis tax
• The combination of their own tax constraints with French tax constraints
• Settling international estates involving trusts
• Support for people moving to France who have links with foreign trusts (as beneficiaries, for example)
• Reporting obligations