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Your heritage is made up of all of your assets. It can be real estate, professional heritage and/or financial heritage. As the assets are subject to tax, a tax advisor may be necessary.
This advisor can be a wealth management advisor, a notary, a tax lawyer depending on the objectives you set for yourself.
Tax advisor: what is property taxation?
In property taxation, the tax advisor will distinguish between two categories of taxes:
- The real estate tax;
- Taxes on income from savings and assets which are found in the annual income tax.
In general, the taxation of heritage is made during the transmission of the heritage (donation, succession, sales) and periodically when one is the owner of this heritage.
Tax advisor: what is his role?
During your income tax return, the tax advisor will help you declare several items, namely:
- The annuity;
- The securities, including income or dividends subject to tax;
- Taxable income produced by capital gains on transferable securities;
- The land revenue;
- The capital gains on real estate sales tax.
In order to meet the advisor who will guide you in the best way in your wealth management, you have to understand what will be the goal of your tax optimization.
When we talk about the tax advisor, we are referring rather to the tax lawyer. Indeed, its role is to give advice, whether to companies or individuals.
What are the missions of the tax and wealth advisor?
The mission of the asset management advisor can be broken down into several goals, tax advice on the one hand, but also make it possible to:
- Carry out a real estate project;
- Earn regular income;
- Build up capital for a future project;
- Ensure the future of the client’s spouse or his relatives;
- Finance the studies of his client’s children;
- Prepare the transmission of heritage.
The first thing carried out by the asset management advisor is the analysis of the asset situation of his client through an asset assessment. This tool helps the adviser’s client define their goals and needs.
The asset manager will therefore issue recommendations for his client on several aspects of his assets, in particular by offering him:
- Of financial investments: life insurance, provident, retirement;
- Securities: stocks, securities;
- Real estate values: rental management , purchase or sale of housing (houses or apartments), business assets ;
- Other: purchase of works of art.
Its main goal is to maximize income from assets while keeping the level of risk low.
The wealth advisor should also:
- Inform his client about investments and opportunities likely to interest him;
- Offer its client a tax and legal framework corresponding to his profile and needs;
- Be able to adjust advice if the client’s situation changes.