The firm has developed a specific and renown expertise in Trust matters, that makes Arkwood a law firm of reference and a key player in this area.
The French tax treatment of trusts involves many areas of uncertainty. It is essential to seek advice as soon as a Trust or comparable institution has a relationship with France, for example a settlor or beneficiary resident in France, even a second-tier one, or holds an asset located in France.
Trustees, settlors and beneficiaries seek the assistance of the lawyers of the firm on a regular basis with regard to:
- The tax consequences in France of their Trust: Wealth tax or sui generis tax, gratuitous transfer taxes (gifts and inheritance)
- Estate planning involving a trust and available alternative options
- The combination of their own tax constraints with French tax constraints (particularly for US persons)
- The settlement of international estates involving Trusts and in particular the combination of Trusts with tax treaties applicable to estate tax
- Support for new tax residents of France who have links with foreign trusts (as beneficiaries for example)
- Reporting obligations