The management of an inheritance in France requires the attention of a notaire in all but very small inheritances. We look at how the fees work for these services.
The death of a loved one is a particularly difficult time and can be exacerbated by bills coming from all corners, including bank and notaire fees and inheritance tax.
While there are significant tax allowances for inheritances, such as an allowance of €100,000 for inheritances from a parent to a child, other fees are unavoidable.
The fees charged by banks for freezing the deceased’s accounts, registering the total with the tax authorities and transfering money to the heirs are particularly high in France, although a new law is expected to change this in 2024 (pending approval in parliament).
For inheritances of more than €5,000, a notaire is also required, resulting in fees that rise in proportion to the total value of the inheritance.
How much do notaires charge for managing an inheritance
The charges are split according to the precise nature of the notaire’s role in managing the inheritance. Some of their fees are state regulated but other fees, such as for consultations or legal advice, can be set independently, usually at a rate of between €200 and €500 an hour.
While this can be done without a notaire for the most straightforward inheritances or when there is agreement between the inheritors, this is not necessarily advisable.
However, a notaire is mandatory when indivisible assets (such as real estate) are concerned.
In the absence of a precise inventory, the total value of items included in a succession (furniture, jewellery, paintings, etc.) is taken to be 5% of the total value.
If you would like a more precise inventory, a notaire can do this for €90.55 (including VAT).