French property - sell, gift or inherit... which is best?

nelbows

We are very lucky in that our (elderly) parents were able to buy a small place in France about 15 years ago. They probably want to use it for another 5 years or so, and we don't want to own it long term. They want to pass on the asset (as property or cash) to us children in the most tax-efficient way.

There seem to be lots of options. One of them is gifting the nue-propriete now while retaining the usufruit, but we are not sure what would happen if we all decide we want to sell it in 5 years. We are also confused as to whether a gift is still liable to French IHT if the giver dies within 15 years, but the property has since been sold and the capital returned to UK.

I'm not expecting any detailed answers, as I realise I haven't provided much info. I've had a good read of french-property.com. I've also been appalled by tales in the Will forum of crappy will writing by professional solicitors.

So... help, can anyone recommend a good solicitor firm in the Cardiff area that specialise in wills and French property? Could do London at a push. Or are there specialist sites that can give me information or do online chat perhaps? Or is there another sensible next step I could take?

Thanks in advance for your help MSEers!

DCFC79

Have you posted the queston on french property forums or those orientated towards ex pats living in France.

Google brings up a few, at least 1 in Cardiff, 1 in Somerton, not vouching for them.

nelbows

Good idea - i’ll try some French property forums.
Yes, did some solicitor googling but is so hard to judge quality....