EU Regulation No. 650/2012, known as the “Succession Regulation” or Brussels IV, is aimed at harmonizing the different private international law rules for succession among “Regulation States”.
The Succession Regulation states that the law applicable to a person’s succession is the law of their “habitual residence” at the time of their death, unless the deceased elected in their will for the law of their nationality to apply, regardless of whether the state of their nationality is a Regulation State or not.
If you have multiple nationalities, you can choose any of these to apply, even if they are non-Regulation States. The choice must be made expressly in your will.
The Regulation will be applied to deaths occurring after August 17, 2015.
Three EU countries decided to opt out of the Succession Regulation (UK, Ireland and Denmark) but although they have opted out, the Regulation may still have implications for anyone who owns assets in a Regulation State, or anyone who dies habitually resident in a Regulation State.
As a result, we would advise anyone who owns assets in Portugal to review their existing wills as Brussels IV could result in your property not passing to your loved ones in the manner you had intended.
For information or any clarification, please contact Vicky Rodrigues at firstname.lastname@example.org.
Neville de Rougemont & Associados, Sociedade de Advogados R.L.