Brussels IV - Is it the Answer?

    November 2014

    Close to 450,000 cross border successions occur in the EU every year with a total estimated value of more than €123 billion. It is not uncommon for wealthy families to have members and assets located in various different countries. Assets in different EU states are subject to deeply conflicting laws governing devolution of estate on death. Private International Law (“PIL”) has historically gone some way towards addressing these conflicts but succession planning and the division and distribution of a cross border estate is still unsatisfactorily chaotic. Dealing with such estates becomes very difficult and expensive.