The notary fees in matters of inheritance represent a significant cost when managing the assets of a deceased person. This process involves several steps, including calculating the fees, the amount of necessary acts, as well as understanding the different rates applied. This article aims to detail these elements in order to enlighten heirs on what to expect during an inheritance.
Calculating notary fees in an inheritance
The notary fees are calculated by applying a degressive percentage on the value of the real estate included in the inheritance. For an inheritance distribution, for example, the notary applies a rate of 4.837% for properties valued at less than €6,500. This rate will gradually decrease for properties with a higher value. Therefore, heirs must be informed about the value thresholds in order to better manage their budget.
The amounts of notarial acts
Each notarial act incurs specific costs. Among the most common acts, there is the act of notoriety which is charged at €56.60 (€67.92 including VAT) and the inventory which amounts to €75.46 (€90.55 including VAT). This detail allows heirs to have a clear view of the costs associated with each step of the inheritance. The inheritance tax must also be settled within six months of the death, which necessitates adequate financial planning.
Notary rates in inheritance matters
The fees charged by a notary in the context of an inheritance consist of fees, honoraries, and disbursements. The proportional fees are based on the gross estate of the inheritance. When the act pertains to the entirety of the estate, specific rates are applied. For instance, the fees amount to 1.548% excluding VAT of the gross estate for shares less than €6,500 and can drop to 0.851% for assets between €6,500 and €17,000. These figures vary according to the total value of all assets.
How to better prepare for inheritance fees
Heirs can better prepare by conducting a simulation of the notary fees. Online tools allow estimating the Inheritance Funds. In France, it is also possible to consult simulators on administrative websites to get an estimate of these fees. This can be a wise way to avoid surprises and effectively manage one’s budget in case of an inheritance, especially during fluctuations in inheritance tax.
Notary rates: what you need to know
The rates of notaries can vary depending on the circumstances surrounding the inheritance and the amount of the estate. Based on the value of the assets, notaries apply a scale that can range from 0.998% to several percentages according to value brackets. Although it is difficult to establish a precise cost without knowing the exact value of the assets, having a general knowledge of rates can be beneficial for heirs.
Inheritance-related fees remain a delicate and complex subject that deserves to be well understood. The calculation of these costs varies depending on the value of the assets, leading to specific costs at each step of the process. Heirs should inquire about the amounts of notarial acts, the rates applied by notaries, and the potential outcomes. By adequately informing themselves, it will be possible to better anticipate the unavoidable expenses during an inheritance. This preparation work will not only help meet financial obligations but also preserve family harmony. Some online resources, such as simulators, are valuable tools to facilitate this approach; thus, it is wise to pay attention to them.
