EU proposes new rules to simplify cross-border wills

PROPOSALS to simplify the way up to 500,000 wills involving cross-border goods and property are dealt with in the EU every year have been announced by the European Commission.

Succession can be big business and the assets involved are worth more than €120 billion each year, but much of this can go on legal costs. The rules are highly complex and often difficult to predict when the property is in one country and the person inheriting is in another, Justice Commissioner Jacques Barrot pointed out.

He proposes people should be able to choose whether the law of the country where they live or the country where the assets are, applies to the will.