One of the major concerns that people who own assets in the EU have is whether their wills will remain valid once we have left the EU.

This is one of the few areas where there is a clear answer: yes. The validity of wills is governed by the Hague Convention which is a set of international regulations which sit outside EU regulation.

The EU Succession Regulation known as “Brussels IV” came into force on 17 August 2015 and aims to simplify successions within the EU by allowing testators to elect for their law of nationality to govern the devolution of their entire estate.

Although the UK has not signed up to Brussels IV, UK nationals with assets in EU member states which have adopted the Regulation are still able to include a choice of law within their Wills. The UK is treated for the purposes of the Regulation as a “third state” in the same way as non EU states, meaning that post Brexit the application of Brussels IV to UK nationals will remain the same.

Consideration will need to be given to the ability of UK citizens to own property in the EU and to use it, whether as a holiday home or a permanent home. It is worth noting that most major European countries do not have any restrictions against non EU citizens purchasing land or real estate.

However, there are certain visa requirements in place for non EU citizens wishing to holiday, live or work within EU countries. We do not know at this stage whether there will be a general agreement with the EU in relation to the movement of people and labour, or whether the UK will need to negotiate individual agreements with each EU state.

Only time will tell what the results of the UK’s negotiations will be and so those with assets in the EU should keep a watching brief on developments.