Stock Exchange: How to give shares to his grandchildren without going through parents?

In the “big savings meeting” (capital / radio heritage), Clarisse Josse, notary in Paris, sheds light on a listener who wishes to transmit a portfolio of titles to his minor grandson, while ensuring that his parents do not have management.

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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, tax -owners, specialists in wealth management – advise you on all the issues related to your money, whether transmission, investments, taxation or pension preparation. Today, Clarisse Josse, a notary in Paris, responds to Edmond, who wishes to bequeath a portfolio of titles to his 15-year-old grandson, but without his parents being able to ensure their management.

The notary begins by specifying that it is essential to “Write a will to organize this transmission and designate a third party administrator, whether it is a loved one, a friend or even a heritage management professional”. This third party may indeed ensure the management of the portfolio and carry out arbitrations if necessary. “It is important to detail the powers of the third party administrator, such as the capacity to manage the portfolio, to make arbitrations or to reinvest in other assets in the event of the sale of securities”adds Clarisse Josse.

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However, it should not be overlooked that “Until the 16 years of children, parents are usufructuary of their property, which means that the income generated by assets come back to them”recalls the notary. To avoid this situation, “It is possible to integrate into the will a clause depriving parents of the legal enjoyment of the goods transmitted, so that the income of the portfolio benefits directly to the minor until his 16 years”. Thus, by anticipating the transmission well and with a well-written will, Edmond can ensure that his grandson will be able to benefit from his portfolio of securities independently, without his parents intervening in his management.

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