Luxembourg, 10/06/2011 (Agence Europe) - In Luxembourg on Friday, the justice ministers of the EU27 agreed on the principles of the future European regulation on wills, which will eventually help to settle cross-border testamentary matters and avoid a legal headache for many families in the EU.
Every year, around 450,000 international wills are opened in the EU, worth a total in excess of €120 billion. As owners of property, be it houses or bank accounts, the families are currently faced with different rules in terms of jurisdiction and applicable law across the 27 member states of the EU, the Commission explains: for example, if a UK citizen who owns a house in the South of France dies, it is still not defined whether French or British succession law should apply to the property. Under the compromise reached in Luxembourg on Friday, a single criterion will apply, in this case that of the usual residence of the couple in question, unless the couple has made a specific decision; this criterion would apply by default if the couple does not make any decisions to the contrary during their lifetime, whereby they would chose the law and jurisdiction applicable themselves. The compromise also paves the way for the European Certificate of Succession, which would, for example, allow a person to prove their status and rights as heir without any further formalities. The competent European commissioner, Viviane Reding, welcomed the compromise, which will make many Europeans' lives easier, and will allow citizens to make full use of their rights to free movement within the EU. (S.P./transl.fl)