Gifted jewellery returns to the estate at its current value

This is the least known rule among families, and one of the most explosive at the time of an inheritance. It can be summed up in one sentence: a gifted item is not counted at what it was worth on the day of the gift, but at what it is worth on the day of distribution.

What Article 860 of the French Civil Code says

When a gift is reportable, the report is due at the value of the gifted item at the time of distribution, based on its condition at the time of the gift. In other words: the jewellery is taken as it was when given — same stones, same setting, same condition — and today's prices are applied to it.

If the item was sold before distribution, its value on the day of sale is used. The logic of the system is equality between heirs: to neutralise inflation and market changes so that the one who received early is neither advantaged nor penalised.

Why jewellery is particularly concerned

Few assets experience such strong variations. The price of gold has multiplied several times over in twenty years; some coloured stones have soared in price; pieces signed by the great houses now trade well above their original price, while other jewellery, very expensive at purchase, has lost most of its resale value.

Two children who received "the same thing" twenty years apart can thus find themselves with considerable differences at the time of distribution — without anyone having done anything wrong.

A telling example

In 2006, a mother gives her eldest daughter a ring valued at €9,000; in 2016, she gives her younger daughter a necklace of then equivalent value. At her death, in 2026, the ring is worth €22,000 and the necklace €11,000.

At distribution, the eldest is deemed to have received €22,000, the younger €11,000. The difference is offset against the rest of the estate — and if the estate is not sufficient, the eldest may owe compensation. Families tear themselves apart over situations exactly like this, often because no one had anticipated the rule.

How to guard against it

• Have each item valued and dated at the time of the gift: this document will establish the condition of the piece, the reference that Article 860 requires to be used.
• Photograph the piece from several angles, with any certificates.
• Speak to your notaire: depending on the situation, a donation-partage can fix values and avoid precisely this mechanism. It is a decision that belongs to them, not to us — but it deserves to be considered before giving.
• Revalue at the time of distribution: it is the value on the day that counts, and it must be established by a professional, otherwise the discussion turns into a rough estimate.

We intervene at both ends of this chain: at the time of the gift, to date and value; at the time of distribution, to revalue objectively. In both cases, the same document is provided to all heirs who request it — transparency being, by far, the best way to soothe tensions.

Updated on 25 July 2026 — allowances and declaration procedures change regularly; check the rule in force on the day of your gift.