Cross-border Complications Update
06 January 2010
Jack Straw has issued a Ministerial Statement indicating that the UK will exercise its right to opt-out of the European Commission's proposed regulation governing succession and wills. The particular areas of concern are clawback and the common connecting factor, further details of which can be found in the Cross Border Complications article in Autumn's Private Client Briefing (Issue 9 - Cross Border Complications).
Jack Straw has however committed to the UK engaging fully in the negotiations on the regulation and confirmed that the UK may ultimately adopt the regulation if its concerns can be resolved. This stance has been welcomed by the Society of Trust and Estate Practitoners
For further details contact Beatrice Puoti
by email or by telephone +44(0) 117 902 2765.