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What now for Brussels IV?

As the UK considers its position in the EU, where does the uncertainty and a potential 'out' vote leave the European assets of vulnerable clients?

21 March 2016

The debate around the UK referendum on the EU is all over the news headlines. At the centre of the debate are issues such as the likely effect on the economy and Britain's global position should the UK vote to leave the EU. In my opinion, it is a decision that will have a significant (and potentially detrimental) effect on the daily lives of people who, at the moment, are unsuspecting.

One of the major pieces of legislation to come out of Europe in recent months is the EU Succession Regulation (Brussels IV). Much has been said about the regulation and although the UK government decided to opt out, it still has an effect on assets situated in states that have opted in that belong to UK residents.

In 2015, there were over 300,000 estates administered in the UK that had a cross border element to them. There will be many more UK individuals who will own assets in foreign states
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