Donate during your lifetime
A major gift: an immediately effective, irrevocable donation
A major gift is an irrevocable donation by which you deed one or more movable or immovable assets such as a sum of money, a stock portfolio or a property, with immediate effect and during your lifetime.
66% of your major gift amount can be deducted from your French income tax bill. When giving cash or full ownership of listed securities, 75% of the amount donated can be deducted from your IFI wealth tax on real estate assets.
There are several ways to support us during your lifetime:
The American Hospital of Paris is recognized as an institution of public benefit in France and as a non-profit organization in the United States. When you make a donation or major gift to the American Hospital of Paris, you can enjoy tax advantages regardless of the country where the assets are located and where you pay taxes.
Full ownership donation
You give the American Hospital of Paris full ownership of an asset. When you sign the deed, the asset is permanently removed from your estate.
Donation of furniture, works of art and other objects
The American Hospital of Paris is authorized to receive all types of objects (furniture, jewelry, vehicles or works of arts). After being assessed by an auctioneer, donated objects are sold by auction. Proceeds of the sale are used to finance the American Hospital of Paris’s various projects.
You receive a tax receipt allowing you to reduce your French income tax based on the value of the assets donated.
When you are the heir to an estate, you can donate all or part of your inheritance to an institution of public benefit like the American Hospital of Paris. This may be done in tribute to a loved one or to reduce the inheritance tax you will have to pay.
USUFRUCT OR BARE OWNERSHIP DONATION
Usufruct or bare ownership donation
Under French law, you can “split” an asset’s ownership rights, which can then be given to two different people:
- Usufruct is the right to use an asset or derive profit from it (rent or interest income)
- Bare ownership is the right to sell the asset.
The usufruct always lasts for a limited period of time, and the bare owner cannot sell the asset without permission from the usufructuary.
When ownership rights are split, the usufructuary pays the French IFI wealth tax on real estate assets based solely on the usufruct value.
Giving bare ownership of a property to the American Hospital of Paris lets the donor continue to live in it or to receive rent, but he/she now only reports to the tax authorities the usufruct value, which is much lower than the asset’s full ownership value. This could spare the donor from paying the IFI tax without sacrificing any rent income received.
Full ownership of the asset is transferred to the American Hospital of Paris upon the donor’s death.
Temporary usufruct donation
A donor may assign investment income or rental property income for a limited period of time. The donor’s income tax or IFI wealth tax on real estate assets is reduced as a result.
At the end of the fixed donation period, the donor recovers full ownership of the asset.
WE PROVIDE EXPERT,CONFIDENTIAL ADVICE
Pierre-Henri Ollier holds a degree in French notary law and can provide expert assistance with your planned giving needs. He will advise you in your best interest and in strict confidence.
Feel free to contact him by phone or email to schedule an over-the-phone or face-to-face appointment.
+33 (0)1 46 41 26 09
Please send me additional information on transferring my assets