Asset advice for liberal occupations

Doctor, lawyer, architect, accountant, physiotherapist: behind the diversity of liberal occupations lie financial constants that general advice does not treat correctly.

Why liberal occupations need specific wealth advice

A separate legal and tax status

The liberal occupational practices under legal and tax regimes which have no salaried equivalent.

This structural choice is irreversible in the short term and determines the entire heritage strategy for the following years.

Structurally insufficient social protection

The liberal does not benefit from the safety net of the employee.

In the event of total disability, the pensions paid by compulsory funds generally represent 20 to 40% of previous income.

A occupational and personal heritage often intertwined

The clientele or patient base constitutes a real, valuable and transferable occupational asset - but illiquid and dependent on the personal continuity of the practitioner.

This overlap creates risks: a divorce can affect the value and availability of occupational shares;

Optimize the taxation of liberal occupationals

BNC, IS, SEL: choosing the right exercise structure

The choice between individual BNC and exercise in SEL at the IS is the most structuring tax decision for a liberal.

In SELARL, the majority manager falls under the TNS regime: his social security contributions are based on his manager remuneration (and not on dividends below 10% of capital), he can join Madelin contracts and fund a occupational PER with extended deductions.

A concrete scenario: a BNC dental surgeon with an annual profit of €250,000 pays around €95,000 to €100,000 in IR and CSG/CRDS.

Adapted deduction and tax exemption levers

Several devices are specifically calibrated for liberals.

For liberals working in SEL, the same levers apply to manager remuneration, to which are added employee savings schemes if the structure employs staff (PEE, PERCO, profit-sharing).

Arbitration of remuneration vs. dividends

In SEL at the IS, the arbitration between manager remuneration and dividends follows a logic identical to that of the manager of an SME but with an additional constraint: the ethical rules of certain occupations (doctors, lawyers) govern the conditions of remuneration and distribution.

For a majority manager of SELARL, dividends are subject to TNS contributions beyond 10% of the share capital.

Preparing for retirement when working as a freelancer

Mandatory checkout limits

Retirement is the blind spot for the majority of liberals.

In practice, a private doctor who has contributed his entire career to the CARMF can expect a total pension (basic + additional) of around €3,000 to €4,500 gross monthly - depending on his level of income and his accumulated points - where his earned income was €8,000 to €15,000 net.

This reality requires building up significant additional retirement savings from the first years of employment, and not as you approach retirement.

Additional solutions: PER, life insurance, real estate

Three complementary vehicles structure the liberal's retirement.

Life insurance remains the reference vehicle for building up available savings, tax-optimized in the long term (reductions reduced after eight years, reduction of €4,600 per year for a single person) and transferable outside of inheritance.

Rental real estate, held directly or via SCI, constitutes the third pillar: it generates additional income upon retirement, increases in value over time, and can be transferred gradually by dismemberment.

Protect your family and secure your income

Foresight and coverage of the risk of cessation of activity

Supplementary insurance is non-negotiable for a liberal.

An adapted Madelin insurance contract covers these three levels with contributions deductible from BNC profit or manager remuneration.

Marital regime and spousal protection

The matrimonial regime of the liberal deserves particular attention, in particular because the value of the clientele or the shares of SEL can increase significantly during the marriage.

Separation of property further protects occupational value but deprives the spouse of any participation in enrichment.

Transmission and promotion of the practice or patient base

Anticipate the sale of liberal activity

The liberal clientele is a transferable asset whose value depends on the continuity of the occupational relationship.

Preparation should begin three to five years before the planned sale.

Private wealth transmission strategies

The transfer of private assets of the liberal responds to the same levers as for any business manager: donation-sharing, dismemberment of property, life insurance, Dutreil pact for qualifying SEL shares.

Life insurance is particularly relevant here: premiums paid before age 70 benefit from a reduction of €152,500 per beneficiary for the calculation of inheritance tax, independently of the rest of the estate.

Our approach to wealth advice for liberal occupations

A global heritage audit

Any serious wealth strategy begins with a complete inventory: current exercise structure and adequacy with your level of income, tax regime (BNC or IS), real social protection (compulsory funds + complementary contracts), existing assets (occupational and private), matrimonial regime, short, medium and long term objectives.

This audit makes it possible to identify the priorities for action - often, the foresight to be strengthened immediately, the PER to be completed before the end of the financial year, and the question of the transition to SEL to be modeled.

Long-term support

The financial situation of a liberal evolves at each stage: installation, development, association, gradual cessation of activity.

A CGP specialized in liberal occupations, holder of CIF status registered with an organization approved by the AMF, monitors your situation over time, coordinates the interventions of your accountant, your notary and your tax lawyer, and ensures that each decision taken at one level is consistent with your entire strategy.

An initial asset diagnosis does not prejudge a commitment.