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Planning a succession
The death of a person with assets in different countries and a residence in a state different from that of his/her citizenship may cause insurmontable problems for that person’s heirs. They should be informed on the intruments that allow succession planning and fiscal optimization of the inheritance.
Primary information is available on EU’s website: http://www.successions-europe.eu.
Primary information is available on EU’s website:
Without having knowledge of this fact, changing one’s residence during one’s lifetime may have effects on a person’s succession, in the sense that the whole inheritance will be regulated under the law of the deceased’s last habitual residence, even if the assets and the inheritors are not in tht stte, and neither is that state the deceased’s state of citizenship.
Drawing up a will authenticated by a notary, and choosing an applicable law for the succession are ways to increase the owner’s control of the way in which assets will be divided and of which categories of inheritors will be benefiting from his/her estate.
Starting with August !st 2015, for all cross-border successions Regulation (EU) no. 650/2012 of the European Parliament and European Council shall apply, concerning jurisdiction, applicable law, recognition and enforcement of court decisions as well as recognition and enforcement of authentic acts in succession matters and concerning the creation of a European certificate of succession.