A legacy in a duo, a legacy for DUO
You have no direct heir? Opting for a duo legacy may be a solution that benefits your nephews, nieces, or relatives since it allows you to give them a larger share of inheritance because it will be less taxed.
Indeed, the legislator has provided that by designating an association such as DUO for a JOB as legatee of the will, it becomes DUO for a JOB’s responsibility to transfer a portion to any other recipient you designate. DUO for a JOB assumes responsibility for and pays any inheritance taxes due, plus any debts or charges. The other legatees receive a net amount that may exceed the amount that would have been due via a classic legacy.
The greater the difference between rates applied to the legatees by particular title and the non-profit association or Foundation, the more the formula is advantageous financially to nephews, nieces, etc.
We will send in confidence a simulation of taxation which would be effective in your particular case. Please do not hesitate to contact John for more information.
A donation in our favor
Your executor may have advised you to opt for a donation. Two types of donation are in fact possible:
- Direct donation: no tax is due for this type of donation. This is the direct and informal transmission of a good, given by the donor to its beneficiary, in this case, DUO for a JOB. This type of donation is possible for cash, jewellery, furniture, etc.
- Donation by notarial deed: property donation can only be done by notarial deed.
Would you like to talk to us about it? Do not hesitate to contact us.
