Masterclass Insights: Looking at Cross Border Succession

The devolution of assets of a testator holding property in multiple jurisdictions depends upon the proper law governing the succession to the estate. It can generally be said that common law countries look at domicile, with moveables being governed by the laws of domicile (lex domicilii) and immoveables the law of situs (lex situs), whereas the approach of civil countries is not to take this ‘dual’ approach, but to look at where the testator was habitually resident and apply a single system of law (of succession) to all the deceased’s worldwide estate. The interaction among the different systems is complicated by the possible operation of renvoi.

This specialist topic is explored in the new Level 7 Professional Postgraduate Diploma (PPgDip) in Private Wealth Advising programme by walking the wealth advisor through the conflict of laws from the perspective of civil law legal systems, dealing with the main legal (applicable law, choice of law, forced heirship rules, succession agreements, usufruct rights and recognition of trusts) and tax issues.

This session is divided into two core units covering:

  • Succession in civil law countries
  • The acceptance and administration of the estate
  • Forced heirship rules
  • Succession agreements
  • Usufruct
  • On creation
  • On expansion upon the death of the usufruct holder
  • On expansion upon the renunciation of the usufruct
  • Successive usufruct holders
  • Use of life insurance policies
  • Inheritance and gift tax
  • Recognition of trusts by civil law courts
  • The application of EU Regulation No 650/2012
  • Choice of law by individuals to govern succession of the whole of their estate
  • Renvoi
  • The UK as a ‘Third State’ for the purposes of EU Regulation

For those interested in the programme and looking to explore what is covered in the full syllabus, please register your details with CLT International by visiting STEP Postgraduate Diploma - Syllabus.

You will also be provided with access to the exclusive informative ‘Standards, Research & Assessment’ webinar(s) which will explain how candidate performance is assessed.