France inheritance tax debate intensifies amid lack of estate planning

A recent study by Inovea and Discurv reveals a significant paradox in France regarding inheritance: while 79% of citizens believe inheritance taxes are too high, 72% have taken no steps to prepare their own estate planning. Many respondents expressed awareness that poor preparation could lead to financial difficulties for heirs, yet procrastination and a lack of knowledge regarding legal tools like life insurance or donations remain prevalent.

The debate has gained political momentum as the 122nd Congress of French Notaries has proposed halving taxes on donations made before age 75 for amounts under 500,000 euros. This comes as an estimated 9 trillion euros in wealth is expected to pass from baby boomers to subsequent generations by 2040. Political candidates are currently divided on the issue, with proposals ranging from taxing very large estates to the complete abolition of inheritance duties.