Life and succession insurance: should we necessarily include the notary?

In the “major savings meeting” (capital / radio heritage), Amélie Ziegelmeyer, regional director private management at Laplace, enlightens an auditor on the role of the notary when a life insurance is beneficiary.

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Each month, the “big savings meeting” (capital / radio heritage) answers your questions in the “your questions, our answers” sequence. Our experts – notaries, taxpiens, specialists in investments – support you on all the issues related to your assets, whether inheritance, savings, taxation or investment. Today, Amélie Ziegelmeyer responds to Francis, whose mother has taken out two life insurance after 70 years, one of 50,000 euros and the other of one million euros from an inheritance. He wonders about the need to include these contracts in the act of succession, as advocated by his notary, while his bank indicates the reverse.

The expert begins by recalling the rule in force in terms of capital transmission via life insurance: “All payments made on a life insurance After 70 years are integrated into the inheritance asset and are subject to taxation after the overall reduction of 30,500 euros which applies to all the beneficiaries. ” What to take into account during the settlement of the succession.

Then Amélie Ziegelmeyer underlines that “The notary is the only one to have a global vision of the deceased and beneficiaries’ heritage. It can thus precisely determine the applicable tax rates and avoid any omission likely to cause tax sanctions ”. Indeed, if Francis decides to manage the tax declaration of life insurance, he “Exposes penalties that can be much higher than notary fees”, he warned. In conclusion, although the bank can provide a tax document, the notary’s consultation remains highly recommended to avoid any error in the declaration and ensure that life insurance is correctly integrated into the estate.

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