The EU Succession Regulation, devised to assist with administration of estates including assets located in multiple jurisdictions, came into force on Monday 15 August 2015 and applies to deaths after this date.
Clients who hold property in EU jurisdictions should take relevant advice before executing or updating their wills, particularly if they intend their Irish will to deal with their worldwide estate. Similarly, clients who intend making a will in another EU country in relation to their property in that EU country should seek appropriate advice. Advice should be obtained from ourselves and from your lawyer in the jurisdiction where the asset is located.
It will be important for clients to generally understand the rules, given the number of Irish people with assets in the relevant jurisdictions, even though Ireland, the UK and Denmark have opted out of the Regulation.
