Cross-border Wills, Probate, Trusts And Tax, Vital Considerations For British Citizens Living In Italy, Spain Or Portugal

• Published date: 09 February 2022
• Law Firm: Giambrone & Partners
• Author: Mr Helen Teffere

The kinder climate, cuisine and culture of Europe has always had a lure for British citizens with many thousands living in Italy, Spain and Portugal, many of whom are enjoying the cultural heritage and scenic environments in their retirement years.

It is not uncommon for individuals to hold property in more than one European country, often without recognising that the laws of succession vary quite considerably from country to country.

Helen Teffere, Head of the Trust, Inheritance and Succession Disputes Team at Giambrone & Partners points out "when a foreign citizen relocates permanently to overseas, one extremely important, often overlooked question is, how the assets in an individual's estate are to be dealt with where there are fixed assets involving different jurisdictions" Helen further remarked, "few people want their heirs to face a prolonged and costly procedure when dealing with an estate, particularly as the task will almost certainly be unfamiliar and they may struggle with the complexities of the procedure."

There are a number of associated matters to be considered in regard to overseas assets, some of which are frequently overlooked by individuals that hold such assets. The question of inheritance and ensuring that your assets reach your designated beneficiaries is a topic that many people push aside.

Wills

Italy, Spain and Portugal are now governed by Regulation (EU) 650/2012, known as the Succession Regulation (or Brussels IV) drafted in 2015 to unify and regularise the application of succession laws...