Apr 27 08:42
11 days ago
35 viewers *
English term
Accuracy, expertise & creativity
Native in: French 
Works in: English to French, Portuguese to French
free of tax
English to French
Law/Patents
Law: Contract(s)
Will
Hello,
In a will, first provisions:
I GIVE free of tax, to CM, if at the time of my death she is still in my employment, etc..
My question is : how can it be free of tax?
It's a UK Will and from what I understand, you can pass chattels to your husband, wife or civil partner when you die. There’s no Inheritance Tax to pay if you do this. If you leave chattels to another person in your will, it counts towards the value of the estate and you will pay IT (unless the value of the estate is under the threshold).
Also, as stated in the Will, the testator is not doing lifetime gift ("at the time of my death").
Any enlightment on this? Am I missing something?
In a will, first provisions:
I GIVE free of tax, to CM, if at the time of my death she is still in my employment, etc..
My question is : how can it be free of tax?
It's a UK Will and from what I understand, you can pass chattels to your husband, wife or civil partner when you die. There’s no Inheritance Tax to pay if you do this. If you leave chattels to another person in your will, it counts towards the value of the estate and you will pay IT (unless the value of the estate is under the threshold).
Also, as stated in the Will, the testator is not doing lifetime gift ("at the time of my death").
Any enlightment on this? Am I missing something?
Proposed translations
(French)
| 4 +1 | exonéré d'impôts/de droits de succession |
AllegroTrans
|
| 5 +2 | (donner) en franchise d'impôt |
Marie Christine Cramay
|
| 3 +1 | libre d'impôts |
Sakshi Garg
|
| 4 | Libre de charge fiscale |
Cedric Tsobgni
|
Proposed translations
+1
3 hrs
AllegroTrans
United Kingdom
United Kingdom
Native in English
Specializes in field
United Kingdom
Sensible solutions
Native in: English (Variant: Wessexois) 
Works in: French to English, English, English to French
Related KudoZ points
:
378
Selected
exonéré d'impôts/de droits de succession
Quand l'héritier est-il exonéré des droits de succession
Expert Impôts
https://expertimpots.com › articles
·
Translate this page
4 Jan 2024 — Les héritiers issus d'un Pacs ou d'une fratrie sont exonérés de droit successoral. De plus, les biens suivants sont exonérés de droit de ...
Expert Impôts
https://expertimpots.com › articles
·
Translate this page
4 Jan 2024 — Les héritiers issus d'un Pacs ou d'une fratrie sont exonérés de droit successoral. De plus, les biens suivants sont exonérés de droit de ...
Peer comment(s):
| agree |
Cyril Tollari
8 hrs
|
|
thank you
|
|
| agree |
Marie Christine Cramay
1 day 4 hrs
|
|
thank you
|
|
| neutral |
Daryo
: Yes, but ... Since when it's the taxpayer who decides what's tax-free and what is not? Doesn't make much sense, something is missing from the whole picture.
2 days 1 hr
|
|
He/she cannot - but maybe he/she knows from the estate size that the legacy will not be taxed
|
|
| disagree |
Germaine
: Certains legs sont imposables; to give... free of tax = en franchise d'impôt = l'exécuteur paie "out of the estate" - see Bourth in discussion.
2 days 7 hrs
|
4 KudoZ points awarded for this answer.
+1
34 mins
Sakshi Garg
India
India
Native in English
&
French
Specializes in field
India
- Because every word matters
Native in: English (Variants: Scottish, South African, US South, Canadian, UK, Irish, Indian, Jamaican, US, Australian, French, Wales / Welsh, Singaporean, British, New Zealand) , French
Related KudoZ points
:
11
2 hrs
Libre de charge fiscale
. Le legs/don reçu serait exonéré d'impôt, libre de toute charge fiscale.
. Peut-être qu’avec la mention : « at the time of my death » on pourrait penser à un don de franchise d’impôt pour qu’il n’y ait plus de droits de donation à payer.
. Peut-être qu’avec la mention : « at the time of my death » on pourrait penser à un don de franchise d’impôt pour qu’il n’y ait plus de droits de donation à payer.
Example sentence:
Selon la rédaction actuelle du testament, le fils de Suzanne recueillera l’immeuble libre de toute dette ou charge fiscale, soit une valeur de 700 000 $ (puisqu’il est un légataire à titre particulier et donc n’est pas tenu aux dettes de la succe
Reference:
https://www.fondsfmoq.com/omniavise/testament-choisir-a-qui-leguer-quoi-nest-pas-une-chose-facile/
+2
1 day 10 hrs
Marie Christine Cramay
Italy
Italy
Native in French
Specializes in field
Italy
Technical, Law, Medicine
Native in: French (Variants: Canadian, Swiss, Luxembourgish, Standard-France, Belgian)
Works in: Italian to French, English to French, Spanish to French, and 1 more.
Related KudoZ points
:
28
(donner) en franchise d'impôt
14 sept. 2007 — **Donner en franchise d'impôt** jusqu'à 180.000 euros par enfant ... Pour permettre aux Français de « transmettre à leurs enfants les fruits d'une vie ...
https://www.lesechos.fr/2007/09/donner-en-franchise-dimpot-j...
20 mars 2008 — Pour relancer la consommation, il avait autorisé à donner en franchise d'impôt jusqu'à 20.000 puis 30.000 euros en espèces à chaque enfant ou ...
https://www.lesechos.fr/2008/03/donations-en-six-mois-1-mill...
13 mai 2022 — Un couple avec deux enfants peut ainsi donner en franchise d'impôt la somme de 400 000 € (100 000 x 4). Ce type de donation présente deux ...
https://www.lafinancepourtous.com/pratique/immobilier/les-au...
https://www.lesechos.fr/2007/09/donner-en-franchise-dimpot-j...
20 mars 2008 — Pour relancer la consommation, il avait autorisé à donner en franchise d'impôt jusqu'à 20.000 puis 30.000 euros en espèces à chaque enfant ou ...
https://www.lesechos.fr/2008/03/donations-en-six-mois-1-mill...
13 mai 2022 — Un couple avec deux enfants peut ainsi donner en franchise d'impôt la somme de 400 000 € (100 000 x 4). Ce type de donation présente deux ...
https://www.lafinancepourtous.com/pratique/immobilier/les-au...
Peer comment(s):
| agree |
Germaine
: Exactement! L'impôt éventuellement exigible sur certains legs est alors réglé sur la masse de la succession. Les traductions "exempt/exonéré d'impôt" "détaxé", etc. dépendent du contexte.
1 day 35 mins
|
|
Merci Germaine.
|
|
| agree |
Marion Linssen
1 day 12 hrs
|
|
Merci Marion.
|
Reference comments
7 mins
Sakshi Garg
India
India
Native in English
&
French
Specializes in field
India
- Because every word matters
Native in: English (Variants: Scottish, South African, US South, Canadian, UK, Irish, Indian, Jamaican, US, Australian, French, Wales / Welsh, Singaporean, British, New Zealand) , French
Related KudoZ points
:
11
Reference:
There’s normally no Inheritance Tax to pay if....
There’s normally no Inheritance Tax to pay if either:
the value of your estate is below the £325,000 threshold
you leave everything above the £325,000 threshold to your spouse, civil partner, a charity or a community amateur sports club
https://www.gov.uk/inheritance-tax
--------------------------------------------------
Note added at 27 mins (2024-04-27 09:09:51 GMT)
--------------------------------------------------
Understanding the Will's Structure > Specific Bequest Free of Tax >
The testator specifies that a particular gift (to CM, if she is still employed at the time of the testator's death) is to be given free of any tax implications. This means that any IHT applicable to this gift must be paid from the remaining assets of the estate, not by CM.
Absolute Gift to Daughter >
The testator then provides an absolute gift to her daughter. This part of the will transfers ownership of certain assets directly and completely to the daughter. The value of these assets would typically be included in the estate's valuation for IHT purposes, unless specifically exempted.
Residue to Trustees >
The remainder of the estate (reliquat), after specific bequests and any debts and taxes have been paid, is given to trustees to hold upon trust. This could involve setting up trusts for other beneficiaries, charitable purposes, or any other trusts as specified in the will.
Now,let's understand this:
The structure of the will and the clause free of tax are designed to ensure that specific wishes of the testator are honored while managing tax liabilities within the legal framework. It's crucial for executors to accurately calculate the estate's value, determine applicable taxes, and distribute the assets according to the will's stipulations.
Considering Tax Implications >...
Inheritance Tax (IHT) > I have provided you the reference above. Please refer to that...
Paying the IHT >
The executor of the will is responsible for paying any IHT due from the estate before distributing the assets. The specific bequest "free of tax" to CM means the estate would cover any IHT due on this gift, ensuring CM receives the full benefit as intended by the testator.
the value of your estate is below the £325,000 threshold
you leave everything above the £325,000 threshold to your spouse, civil partner, a charity or a community amateur sports club
https://www.gov.uk/inheritance-tax
--------------------------------------------------
Note added at 27 mins (2024-04-27 09:09:51 GMT)
--------------------------------------------------
Understanding the Will's Structure > Specific Bequest Free of Tax >
The testator specifies that a particular gift (to CM, if she is still employed at the time of the testator's death) is to be given free of any tax implications. This means that any IHT applicable to this gift must be paid from the remaining assets of the estate, not by CM.
Absolute Gift to Daughter >
The testator then provides an absolute gift to her daughter. This part of the will transfers ownership of certain assets directly and completely to the daughter. The value of these assets would typically be included in the estate's valuation for IHT purposes, unless specifically exempted.
Residue to Trustees >
The remainder of the estate (reliquat), after specific bequests and any debts and taxes have been paid, is given to trustees to hold upon trust. This could involve setting up trusts for other beneficiaries, charitable purposes, or any other trusts as specified in the will.
Now,let's understand this:
The structure of the will and the clause free of tax are designed to ensure that specific wishes of the testator are honored while managing tax liabilities within the legal framework. It's crucial for executors to accurately calculate the estate's value, determine applicable taxes, and distribute the assets according to the will's stipulations.
Considering Tax Implications >...
Inheritance Tax (IHT) > I have provided you the reference above. Please refer to that...
Paying the IHT >
The executor of the will is responsible for paying any IHT due from the estate before distributing the assets. The specific bequest "free of tax" to CM means the estate would cover any IHT due on this gift, ensuring CM receives the full benefit as intended by the testator.
Discussion
"There’s normally no Inheritance Tax to pay if either:
-the value of your estate is below the £325,000 threshold
-you leave everything above the £325,000 threshold to your spouse, civil partner, a charity or a community amateur sports club"
https://www.gov.uk/inheritance-tax
In any case, it is the total amount that is taxed, if applicable, and it is paid out of the estate, not by the individuals who receive it.
So a non-family-member can be left any amount of money in the estate up to what is left after any tax is paid prior to the money being paid out.
> the value of your estate is below the £325,000 threshold
> you leave everything above the £325,000 threshold to your spouse, civil partner, a charity or a community amateur sports club
So, there might be the possibility that the 'value of your estate is below the £325,000 threshold' and this is why it is 'free of tax'? You might consider the rest of the document. It might be chances that the value of the estate is mentioned.