17 August next year
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17 August next year
An interesting article in 'Country Life' particularly the comments about 'EU succession regulation' that supposedly comes into force of 17 August next year: http://www.countrylife.co.uk/news/property-news/invest-italian-farmland
I thought it is already possible to stipulate that you wanted all your estate on death dealt with under UK law.
I thought it is already possible to stipulate that you wanted all your estate on death dealt with under UK law.
ghiro- Moderator
- Location : Massa-Carrara
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Re: 17 August next year
It's a complex area which no doubt Charlotte can confirm if she sees this. The new legislation has been a long time in the making and I believe was discussed on other forums (perhaps even here) a year or two ago. I'm sure I have seen a specific wording (possibly by Charlotte) that you needed added to your will to ensure your wishes are met. I think until this came about certain parts of your estate were/could be in limbo and not under UK law. Recent wills before the legislation comes into effect, should after the start date (with the wording) would be acceptable as I understood at the time. Last I heard was that the UK would not be signing up to this, but those doing so e.g. Italy would and therefore any Italian estate they would abide by your will...
stevegwmonkseaton- Elder
- Location : Abruzzo
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Re: 17 August next year
From what I can find on the web, this is still the case. Indications are that we should have made the relevant provisions in our wills already during this interim period ( from July 2012 it seems - from when it appears we are in limbo).
stevegwmonkseaton- Elder
- Location : Abruzzo
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Re: 17 August next year
Hello, this is Charlotte Oliver. I have not been able to log in to reply, so now have a new identity.
I read the Country Life article, but it is misleading. Yes it is true the UK did not opt in to the new succession Regulation, and it is true that a choice of law clause in a will is something that has been advisable for many years, although it is not always guaranteed to avoid the application of Italian forced heirship rules.
Its important to reiterate that the new succession Regulation is likely to affect those who are resident in Italy (this means the place of habitual residence and not necessarily the fact of being registered with the Anagrafe as resident). At the moment the law of succession to those people is by default the law of nationality.
From August 2015, the default law of succession, unless an express choice has been made in a will, becomes the law of the country of residence, ie Italian law would apply and a persons estate could be claimed by family members who were not intended to inherit at all.
I read the Country Life article, but it is misleading. Yes it is true the UK did not opt in to the new succession Regulation, and it is true that a choice of law clause in a will is something that has been advisable for many years, although it is not always guaranteed to avoid the application of Italian forced heirship rules.
Its important to reiterate that the new succession Regulation is likely to affect those who are resident in Italy (this means the place of habitual residence and not necessarily the fact of being registered with the Anagrafe as resident). At the moment the law of succession to those people is by default the law of nationality.
From August 2015, the default law of succession, unless an express choice has been made in a will, becomes the law of the country of residence, ie Italian law would apply and a persons estate could be claimed by family members who were not intended to inherit at all.
Last edited by AVVCMJ on Thu Nov 20, 2014 10:44 am; edited 1 time in total (Reason for editing : Spelling mistake)
Re: 17 August next year
Thanks for the reminder Charlotte
Casa Monal- Elder
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