New European Union (EU) regulations (Cross Border Succession Brussels IV) now make life, or should we say death, far simpler for those owning second properties, or other assets, in EU States outside the UK.
Whilst UK tax law allows an individual to bequeath their assets to any individual they choose, this is not the case in many other EU States where the law, regardless of the deceased’s wishes, can prescribe how assets on death are distributed to beneficiaries. As a result, it was generally necessary for UK citizens to draw up a second will in the EU country in which other assets were held, in addition to their UK will, in order to administer the estate on death effectively and to try and limit the impact of prescriptive succession laws.
If you'd like to know more or are unsure whether inheritance tax might impact you, why not call us and request to speak to an inheritance specialist on 0800 321 3581.
Our FREE Guide to Inheritance Tax Planning
Securing your wealth for future generations
If you’re looking for ways to reduce your inheritance tax bill, the guide offers an excellent overview of the key considerations relating to inheritance tax.
The guide has been produced by award winning, independent chartered financial planners, The Private Office LLP, who are experts in inheritance tax planning
If you’re looking for ways to reduce your inheritance tax bill, the guide offers an excellent overview of the key considerations relating to inheritance tax.
The guide has been produced by award winning, independent chartered financial planners, The Private Office LLP, who are experts in inheritance tax planning
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