What is donation?
The donation is an act by which you transmit during your lifetime and free of charge the ownership of a good to another person. You can make a donation to the person of your choice. However, the goods donated must not exceed the share reserved for some of your heirs.
How do I donate?
The donation can be formalized by a simple declaration made informally or by notarial deed depending on the property concerned. Not all donations give rise to the payment of donation tax.
What is the gift tax?
The individual who receives a gift must pay gift tax on the goods received. Donation duties are paid after any deduction of a reduction on the value of the goods received, which depends on the family relationship or the quality of the beneficiary of the donation.
Why use a notary for a donation?
Note: to prevent your heirs from questioning the donations you have made, it is recommended to call on a notary even if it is not compulsory.
What is the difference between donation and inheritance?
The donation consists in gratifying during your lifetime the person or persons of your choice by giving them money, real estate or movable property (jewellery, car, securities account &). Barring exceptions, a donation is irrevocable and immediately transfers ownership of the securities transmitted from the donor (the one who gives) to the donee (the beneficiary of the donation).
The succession only occurs after a death. It consists of allocating the assets held by the deceased to their heirs, respecting the regulations in force as well as their last wishes if they left any, by means of a will for example.
How can I donate?
It is possible to donate money in cash, by check or transfer but also movable property, jewellery, a painting, a car or even a title account as well as real estate (apartment , shop, land&).
How much can I donate?
In theory, there is no limit to your generosity, but it is recommended to follow these two rules.
- Be careful not to strip thoughtlessly.
- Respect the rights of your heirs.
Is it mandatory to declare a donation?
Most donations must be reported to the tax authorities. The only exception to the rule: customary presents , these gifts made during special events (birthdays, weddings, Christmas, success in an exam, etc.), which escape any declaration. Concerning the specific case of manual donations, no declarative obligation weighs on them, but their registration with the taxes remains recommended.
What is the easiest way to donate?
While your gesture (donation of money, jewellery, etc.) may be akin to a present of use, it is not subject to any declaration or writing. But your donation still has to meet the required conditions.
Apart from this specific case, you must at least declare the donation to the tax authorities or even passed through a notary.
There are various forms of customizable donations according to your expectations and that many options entitle you to legal exemptions.