From 17 August, individuals who own assets in any EU member state – apart from Ireland and Denmark – will be able to choose which country’s inheritance law will apply to their assets when they die.

At present, assets held in another EU country are subject to that member state’s inheritance regulations. In countries such as France and Spain, ‘forced heirship’ rules mean that a portion of an estate must be handed to a deceased’s next of kin, rather than a party of their choosing.

Britons can elect in their will which country’s law they would like to govern the succession of their EU assets. Instead of having a separate will for their holiday home in France, for example, they can update their UK will to cover the French property.

The new piece of legislation is called the European Succession Regulation or more coloquailly, Brussels IV.

Eleanor Metcalf, head of the private client group at law firm Wedlake Bell said: “Brussels IV provides an excellent opportunity for those with multi-jurisdictional assets to take control of their heirs’ financial future.

“Making a will is an important and often difficult step for clients and anything which simplifies cross-border succession issues and gives them the freedom to leave EU assets to whomever they wish, is very much welcomed. Individuals should look at what Brussels IV means for them now.”