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By Fernand Gagnier, for ExpatBriefing.com
12 August, 2015
Expats in the EU will soon benefit from standardized inheritance laws, making the issue of succession far simpler for many.
On August 17, 2015, new EU-wide rules, contained in Regulation (EU) No 650/2012, will come into force. The regulation will allow EU expats to decide whether they wish their estate to be subject to the succession rules of their country of residence or their home country. This will greatly simplify the problem of inheritance for many expats, particularly those living in countries where succession is subject to onerous rules.
The regulation states that a person's estate is treated as a whole and will be dealt with under a single system of law. By default, that will be the law of the country of last residence. However, everyone has the option to state in a will that they prefer to use the law of their country of origin.
This sweeps away current problems of estates being dealt with piecemeal under conflicting or contradictory systems in different countries.
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