ASSOCIATION COOPÉRATIVE FINANCIÈRE DES FONCTIONNAIRES INTERNATIONAUX
RECENT CHANGES IN EUROPEAN LEGISLATION CONCERNING CROSS-BORDER INHERITANCE
For staff members of intergovernmental organizations preparing to pass on one’s estate can be complicated by the overlapping of divergent laws in their countries of origin and residence, as well as the countries where the assets are situated. Supervisory Board member, Paul Zimmer, discusses recent changes in European Legislation concerning crossborder inheritance.
A new European Regulation, which has been applicable since 17 August 2015, seeks to manage cross-border cases giving rise to conflicts of laws by setting out which national legislation is applicable and which national jurisdiction is competent to adjudicate disputes.
The new Regulation establishes a “European Certificate of Succession” valid across borders and, in certain cases, allows the individuals concerned to choose which legislation will apply to their succession.