Inheritance: the auctioneer's inventory protects you

Succession : The Auctioneer's furniture inventory for peace of mind 

The loss of a loved one is a delicate ordeal, imbued with memories and emotions, requiring thoughtful estate management.

This often painful moment calls for rigorous organization to avoid future complications. At the heart of this process, the estate inventory is an essential step.

It enables us to evaluate the deceased's assets, whether movable or immovable, and ensure that they are passed on to the heirs with peace of mind.

By taking the time to draw up this inventory, heirs give themselves the means to understand the value of the assets they are receiving and to prepare for the distribution of the property with full knowledge of the facts.

Hiring an auctioneer for this delicate task is a wise choice. These trained and experienced professionals have the expertise to value assets accurately and impartially. 

By entrusting this responsibility to an auctioneer, heirs can effectively protect themselves against potential tax complications. Thanks to a precise and rigorous evaluation, the risks of contestation by the tax authorities are considerably reduced.

This ensures a smooth transition of the estate, while minimizing worries linked to inheritance tax and legal obligations.

In short, the estate inventory is not just a simple formality. It's a crucial step that can ease tensions and ensure the serene management of inherited assets.

By surrounding themselves with competent professionals, heirs can get through this difficult period with confidence and serenity, ensuring that their loved one's memory is honored in a respectful and organized manner.

Drawing up the estate inventory: A legal obligation not to be neglected

In accordance with Article 815 of the French Civil Code, the estate inventory is a legal obligation that all heirs, whether legatees or usufructuaries, cannot ignore.

This means that all assets, whether movable or immovable, must be carefully listed and valued. In France, heirs must declare all the deceased's assets to the tax authorities, an essential step in calculating inheritance tax.

It is therefore crucial that this inventory is complete and accurate, as the value indicated will have a direct impact on the taxes to be paid.

Failing to tackle this task can quickly prove costly: without a valid document, the tax authorities could apply flat-rate taxation, which is generally not in the heirs' favor.

A lack of organization at this stage can result in significant additional costs.

For example, without a professionally produced inventory, the tax authorities could assess the assets at a higher value. Consequence? Increased inheritance tax and, consequently, a final bill that could make people cringe. 

This really highlights the importance of a professional valuation, which can make all the difference to the amount of tax due.

Having an auctioneer by your side not only guarantees a fair valuation, but also ensures that everything is in order for an estate transition under the best possible conditions and with the best possible legal security.

At these already emotionally-charged moments, it helps to ease tensions and make estate management a little less stressful.

Examples of post-succession sales

Asset valuation : An indispensable step

The valuation of the deceased's assets represents one of the most crucial steps in the estate inventory. It makes it possible to establish the value of the assets, in order to ensure that inheritance tax is calculated on a realistic and fair basis.

With this in mind, it is highly recommended to call on the services of an auctioneer, whose expertise can prove invaluable.

According to article 1 of the law of July 10, 2000, auctioneers are professionals empowered to assess the value of goods according to objective criteria, such as state of preservation, rarity and artistic quality.

Thanks to their expertise, they can establish an accurate estimate that can be defended before the tax authorities, thus avoiding potential disputes in the future. This approach reassures heirs by offering them a valuation based on solid, verifiable criteria.

The advantages of using an auctioneer Calling on an auctioneer to carry out the estate inventory has many advantages.

First of all, these experts are subject to a strict code of ethics that commits them to being rigorous and impartial in their valuations. This transparency is essential to avoid any future problems with the tax authorities, who could contest a valuation carried out by non-professionals.

Next, the auctioneer takes charge of all tasks linked to the estate inventory. He manages the valuation of the assets, the drafting of the final report, and can also advise the heirs on the best steps to take.

This comprehensive handling allows heirs to be relieved of an often complex and time-consuming task.

Hiring a professional also ensures an objective and fair appraisal, a particularly important aspect at times charged with emotion and family tension.

By hiring an auctioneer, heirs can be reassured that the inventory will be carried out professionally and in line with legal requirements. This helps to establish a climate of trust between heirs, who may sometimes disagree on other aspects of the estate.

A neutral assessment helps to ease tensions and promote constructive dialogue. Tax impact of the estate inventory The tax impact of the estate inventory is a fundamental issue to be considered.

Inheritance taxes depend on the value of the assets passed on, which is set at the time of the inventory. It is therefore crucial that this valuation is fair to avoid conflicts with the tax authorities.

For direct line heirs, such as children or spouses, the tax scale is progressive. For example, the first 8,072 euros are exempt. Beyond that, tax rates vary from 5% to 40%, depending on the value of the estate.

Collateral line heirs, such as siblings, are also affected by this system, with rates varying from 35% to 45% depending on the amounts.

It's worth knowing that certain tax exemptions and reductions exist in specific cases, such as donations to public-interest organizations or for people with disabilities.

It is therefore advisable to consult a notary or wealth management advisor to be informed of the options available and optimize one's tax situation. An inventory carried out by a professional guarantees that the value of movable assets will be correctly determined.

All about estate inventory

Inversely, if no inventory has been drawn up, the tax authorities will rely on the estimate provided by the heirs. This can lead to frequent disputes, making this a risky option.

If neither solution is available, the furniture will be valued at a flat 5% of the total estate value, an estimate often insufficient in relation to market reality.

This situation could lead to significant under-valuation, aggravating tax problems for the heirs.

The costs associated with an estate inventory Hiring an auctioneer to draw up an estate inventory entails costs, which can vary according to the complexity of the task and the number of items to be appraised.

At Auctie's, for example, rates range from €350 incl. VAT to €1,000 incl. VAT, depending on the number of items to be appraised and the time required by our team. These rates also include travel expenses and documentary research, making this offer attractive on the market.

Note that in the event of the sale of goods, the inventory carried out by our approved auctioneers can be offered. This represents a handsome saving for heirs, while guaranteeing them a professional valuation of the items for sale.

This incentive option underlines the value of calling on professionals from the outset, enabling heirs to benefit from complete care at a controlled cost.

Other examples of post-succession sales

Concluding on the importance of the estate inventory

To sum up, carrying out an estate inventory is much more than a mere formality: it's an essential step with significant legal and tax consequences.

The accuracy of this inventory, facilitated by the intervention of an auctioneer, is crucial to heirs' peace of mind.

A professional inventory not only avoids problems with the tax authorities, but also guarantees a valuation in line with market reality.

Heirs need to understand that neglecting this key step can lead to long-term legal and financial complications.

By taking the time to comply with legal obligations, and by surrounding themselves with competent professionals, they can get through this delicate period with greater serenity, safe in the knowledge that assets will be passed on fairly and transparently.

Thus, it's vital not to underestimate the importance of the estate inventory. By engaging an auctioneer, heirs ensure a rigorous valuation process that complies with current standards, while protecting themselves against tax challenges.

This is an essential step in preserving family assets and guaranteeing a harmonious and serene succession, a goal that everyone hopes to achieve in these difficult times.

It should also be noted that the quality and accuracy of the inventory can influence not only relations between heirs, but also the reputation of the deceased and the durability of his legacy.

A carefully prepared inventory can, moreover, serve as a tool for transmitting family and cultural values, thus strengthening the bond between generations. Ultimately, the completion of an estate inventory is a proactive approach that allows one to confidently navigate through the complexities of wealth management.

By making the right decisions and relying on experts, heirs can transform a period of sadness into an opportunity to rediscover and enhance the legacy left by their loved one, while ensuring that everything is in order for future generations.