Life Insurance has enormous advantages in the context of an estate in order to minimize RIGHTS OF SUCCESSION.
Taxation on death
The beneficiary has been designated in the contract (initial contract or rider) in the beneficiary clause. The application of this issue must not result in a breach of contract size reserved.
Moreover, if no beneficiary was designated or that it is not identifiable, death in the contract between the estate and no longer enjoys his scheme.
Taxation of Life Insurance has been amended several times. Before November 20, 1991, no tax was made on this transmission sheet. Over time, it became a great way to escape inheritance tax. Today, this exemption is limited.
Existing system (contracts signed since October 13, 1998) depending on the age of the subscriber at the time of its payments: Payments made
Taxation
before age 70
152 000 No taxation until bénéficiaire.Imposition € per flat rate of 20% beyond.
after 70 years
Exemption to € 30,500 (for all contracts of the deceased) Beyond that, subject to inheritance tax (depending on the relationship). Waiver of interest and capital gains (only payments are submitted)
Veterans contracts :
Date 20/11/1991
subscription before date of payment before 13/10/1998
Taxation: Cases 1
Date subscriptions before
Date 20/11/1991 payments since 13/10/1998
Taxation: Case 2
subscription date between 20/11/1991 and 12/10/1998 Date
payments before age 70 before 13/10/1998
Taxation: Cases 1
subscription
Date Between 20/11/1991 and 12/10/1998 Date
payments since 13/10/1998
70 years
Before Taxation: Case 2
Between 20 / 11/1991 and 12/10/1998
Timing of payments after 70 years
Taxation: Case 3
Case 1: total relief. Case 2: By Recipient: exemption up to € 152,000; fixed at 20% beyond. Case 3: exemption up to € 30,500; Inheritance then.
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