Succession planning Succession planning Christopher Scholefield - Partner February 2017
Succession planning Basic ideas Tangible Movable Transferable (personalty) Property Intangible (what) Immovable Non transferable (realty) (e.g. certain company shares) Residence People Nationality Origin (who) Domicile Dependance Choice 2
Succession planning Assets, death and wills Movables - MSP Pil e.g. conflict & renvoi Immovables - LS Substance (what) Jersey Movables - légitime & rapport à la masse Domestic Law Immovables - dower Rules Movables - sign, date and two legal witnesses Form (how) Immovables - sign, date and one legal witness 3
Succession planning Brussels IV • Which countries? C H • Movs & Immovs? O I C • Law of residence E – (Including its pil rules) such as lex situs. A L • Law of nationality L O – (Not including its pil rules) W • Tax? E D 4
Succession planning Probate • The idea • The scope • The requirements • The executor • The jurisdiction issues • Légitime attack + Rapport à la masse 5
Succession planning Division of your estate ⅓ Mother + Father + House Hold Effects* 1 st child 2 nd child Free ⅙ ⅓ ⅙ Mother + Father Notes: • Spouses or civil partners living 2nd child 1 st child Free apart need to consider that ⅓ these rules may not apply to ⅓ ⅓ them. • * House Hold Effects do not include: cars, investments, business assets, collections 2 nd grandchild 1 st grandchild worth more than £10,000 and mortgage protection cover. ⅙ ⅙ 6
Succession planning Division of your estate Wife + Husband ⅔ + House Hold Effects* ⅓ + Free No issue 7
Succession planning Thank you 8
Succession planning Practice Areas: Contact us: Scan us: Follow us: COMMERCIAL Viberts @vibertslawyers EMPLOYMENT Viberts House, PO Box FAMILY google.com/+VibertsLaw 737, Don Street, St. Helier, LITIGATION Jersey JE4 8ZQ PERSONAL linkedin.com/company/viberts PROPERTY +44 (0) 1534 888666 Scan QR code for details +44 (0) 1534 888555 Visit us: youtube.com/c/VibertsLaw www. viberts .com info@viberts.com IH_1367_V1_20022017
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