I was under the impression that around 2015 or 2016 there was a change in the EU inheritance rules where one could designate the country of your nationality, such as the USA as the one whose inheritance laws will apply. It does not impact inheritance tax but gives one ability to designate inheritors. Is that only if you live in France less than 10 years?
I think it's really useful to bring on people who have specialized information such as the guest in this case but I did watch some of the other videos you did with her. I studied French for 4 years and speak basic French still but I found it very hard to understand both because of the way she speaks and because of her thick accent. Clearly she's trying her best but still it was tough to follow because she raised a lot of exceptions that made the conversation meander. I don't think this helped how the information was received by the audience.@@WarrenJulieTravel
I always have the questions of how to bring the cash with you for your daily expense. Do you got a local bank account in all countries or you use your credit card for your daily expense ？
You use an ATM to take cash out of your bank, wherever you happen to have one... or you use a credit card. You can't open a bank account in every country you visit, that is silly.
So unless you intend to leave a big chunk of your already heavily taxed wealth and assets to the Government do not have assets in France or be a tax resident of France in the latter part of your life.
I'm French married to an American. We are keeping our assets in the US. Thinking of buying in France. I think renting will be best option to avoid this confusing inheritance tax. I think you can reside in France and renew you long stay visa indefinitely without becoming a tax resident if you stay less than 6 months?
The laws are just so gray, they are not black and white, so we completely understand why she says it is best to consult an expert. After studying this for hours, we still feel extremely confused. It is not something to be taken lightly.
very helpful info. thanks
Thanks
We appreciate you watching and commenting:)
With 5 of my own and 2 step kids, I am feeling that my plan to buy a place in France is slightly crazy:(
Ne le faites pas
The inheritance taxes are thought provoking. There are many benefits to living in France, but for many this is a deal breaker.
I was under the impression that around 2015 or 2016 there was a change in the EU inheritance rules where one could designate the country of your nationality, such as the USA as the one whose inheritance laws will apply. It does not impact inheritance tax but gives one ability to designate inheritors. Is that only if you live in France less than 10 years?
Clear as mud.
It can definitely feel that way.
I think it's really useful to bring on people who have specialized information such as the guest in this case but I did watch some of the other videos you did with her. I studied French for 4 years and speak basic French still but I found it very hard to understand both because of the way she speaks and because of her thick accent. Clearly she's trying her best but still it was tough to follow because she raised a lot of exceptions that made the conversation meander. I don't think this helped how the information was received by the audience.@@WarrenJulieTravel
USA does not have inheritance tax for estates under $13,610,000 in 2024,, so the tax treaty with France does not help in this case.
Sadly, very true. Thank you for watching.
I always have the questions of how to bring the cash with you for your daily expense. Do you got a local bank account in all countries or you use your credit card for your daily expense ？
You use an ATM to take cash out of your bank, wherever you happen to have one... or you use a credit card. You can't open a bank account in every country you visit, that is silly.
@JayandSarah I am from NZ and have no idea if my ATM card in NZ can draw cash from other countries. Can you do it with the ATM card from US?
@@popovdes5576 your atm card can be used anywhere in the world. There are only a few global banking networks and they are all interconnected.
So unless you intend to leave a big chunk of your already heavily taxed wealth and assets to the Government do not have assets in France or be a tax resident of France in the latter part of your life.
I lean that direction also.
I'm French married to an American. We are keeping our assets in the US. Thinking of buying in France. I think renting will be best option to avoid this confusing inheritance tax. I think you can reside in France and renew you long stay visa indefinitely without becoming a tax resident if you stay less than 6 months?
The problem with all such (very helpful) videos is there is inevitably a caveat such as 'consult an expert' (stated by an expert!).
The laws are just so gray, they are not black and white, so we completely understand why she says it is best to consult an expert. After studying this for hours, we still feel extremely confused. It is not something to be taken lightly.