CMS Monaco is a leading law firm, providing local and international clients with a one-stop shop service for all their legal challenges, both in counselling and litigation. The firm was created in 2009 and is strongly anchored in the Monegasque market and well familiar with its dynamic economy. In 2017 the firm joined CMS, an organisation of independent law firms, composed of 80+ offices in 45+ countries, with over 6,000 lawyers worldwide, making it the only law firm in Monaco with such significant international reach.
Today CMS Monaco is composed of 80+ professionals, including five partners (Avocats Associés Monégasques) and over 50 associates, experts in Monegasque law. The firm is structured around seven practice groups: Private Clients, Business Law, Real Estate & Construction, Employment, Banking & Finance, Tax and Criminal law. The teams regularly work together on complex cross-practice cases with high stakes for a large variety of Monegasque and international clients, such as companies of various sect
For English nationals residing in Monaco, drafting a will related to Monaco-located assets subject to Monegasque law may prove essential, as this process can fundamentally...
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For English nationals residing in Monaco, drafting a will
related to Monaco-located assets subject
to Monegasque law may prove essential, as this process can
fundamentally speed up the liquidation of
assets located in Monaco and more specifically bank
accounts.
Indeed, it is common that English nationals residing in Monaco
already made arrangements for their assets under English law.
However, if English law is applied to
the estate of a Monaco resident, the latter will have to engage in
a probate procedure. The English Monaco resident will need
to obtain the probate in order to allow
the notary to proceed with the distribution of the assets.
Therefore, if movable and/or immovable assets are located in
Monaco, it may be beneficial for their distribution not to be
governed by English law but by Monegasque law instead. The primary
advantage of such a provision is to enable the notary to quickly
distribute the Monaco-located assets.
In conclusion, drawing up a will in Monaco for a resident of
English nationality is an advantageous
solution to ensure a quicker and smoother liquidation
of Monegasque assets.
However, it is necessary to contact a lawyer to ensure that the
drawn up will is limited to Monaco-located assets
and does not conflict other wills made
abroad.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
