Wealth Transmission: Anticipating the Donation-Partage Before 2027
Why 2026 is a strategic window to lock in transmission benefits — and how to act before potential legislative changes.
- A donation-partage fixes the value of transferred assets at the date of the deed, securing the allocation between heirs.
- Direct-line allowances reach €100,000 per parent per child, renewable every 15 years.
- 2026 represents a window of opportunity ahead of possible legislative changes from 2027 onwards.
- The combined involvement of a notary and a wealth manager is essential to structure the operation properly.
The Wealth Transmission Challenges of 2026
Wealth transmission is one of the main concerns of high-net-worth individuals on the Côte d’Azur. Whether the assets involved are financial holdings, rental property or business interests, the tax and succession implications demand rigorous planning. French law offers several mechanisms to mitigate the tax impact, notably the donation-partage — a powerful tool that combines lifetime gift and equitable distribution among heirs in a single notarised deed.
The donation-partage is not merely a tax instrument. It is a family governance tool that prevents future disputes by fixing the allocation of assets between heirs at the time of transfer, eliminating the uncertainty of posthumous division. For families with multiple heirs and diversified assets, it provides a clarity and finality that a conventional will cannot.
“The most sophisticated transmission strategies are not simply tax-optimised — they are family-proofed. The donation-partage achieves both simultaneously.”Benjamin Cohen, Riviera Wealth Management
What the Donation-Partage Is and Why It Matters
A donation-partage allows you to transfer part of your wealth to your heirs in advance, while organising the distribution of your assets according to your wishes. Unlike a traditional transmission, it fixes the value of the assets at the time of the gift, preventing subsequent capital gains from disproportionately benefiting certain heirs. For owners of businesses or real estate whose values are appreciating, this mechanism locks in a lower taxable base.
The tax treatment is straightforward: direct-line transfers benefit from a €100,000 allowance per parent per child, renewable every 15 years. A couple with two children can therefore transfer €400,000 tax-free in a single operation. Combined with usufruct splitting — retaining the income from transferred assets while transferring bare ownership — the effective taxable value is further reduced, often by 30 to 50% depending on the donor’s age.
Structuring and Implementation
A donation-partage requires the combined expertise of an experienced wealth manager and a notary. Together, they will analyse your wealth composition, anticipate likely tax developments and design a transmission plan tailored to your family situation and objectives. Riviera Wealth Management supports clients from Mougins to Monaco through this complete process, from initial audit through to post-transfer monitoring.
The structuring options are numerous. A donation-partage can be combined with the Pacte Dutreil for business assets, with usufruct splitting for income-producing real estate, or with a family SCI for property portfolios. The choice depends on your asset profile, tax situation and the ages and circumstances of your heirs. A bespoke analysis is indispensable.
Real Estate Assets
Transfer bare ownership of rental property while retaining usufruct (income). The taxable value is reduced by 30–50% depending on the donor’s age. Combine with a family SCI for multi-property portfolios.
Financial Portfolios
Transfer shares, bonds or life insurance policies. Use available allowances (€100,000 per parent per child) plus possible additional gift allowances for specific asset types. Renew every 15 years.
Business Interests
Combine with the Pacte Dutreil for a 75% exemption on qualifying professional assets. Requires prior audit of business structure and commitment planning with all heirs.
Mixed-Asset Estates
For diversified estates, a donation-partage enables differentiated treatment: each heir can receive assets suited to their profile and tax situation, within an equitable framework validated by a notary.
- Act in 2026: administrative and notarial lead times are 2–4 months. Do not wait until December.
- The €100,000 per parent per child allowance is renewable every 15 years — use it systematically.
- Usufruct splitting reduces taxable value by 30–50% while allowing the donor to retain income from transferred assets.
- Combine with Pacte Dutreil for business transmission or with a family SCI for property portfolios.
- A notary and a wealth manager working together is the only reliable approach for estates above €500,000.
This document is provided for informational purposes only and does not constitute investment advice, a personalised recommendation or an offer to buy or sell financial products. Past performance is not indicative of future results. All investments carry risk, including potential loss of capital. The information in this article reflects Riviera Wealth Management’s analysis at the date of publication and is subject to change. Riviera Wealth Management is a registered financial investment adviser (CIF), registered with ORIAS and a member of the CNCGP.
