?Bulletproof? legislation improves succession laws
?Bulletproof? legislation clarifying the precedence of succession laws in Bermuda over laws in a foreign country was approved in the House of Assembly on Monday.
?Succession laws are laws which determine the order in which persons succeed to property,? explained.
?Presently, the courts in Bermuda are not able to set aside or vary a valid trust created in Bermuda in order to enforce laws of another jurisdiction based on foreign matrimonial laws, mandatory succession rights, or creditors rights under foreign insolvency law unless Bermuda has corresponding laws or public policy rules.
?There is some doubt as to whether the principal Act makes it clear that forced heirship laws cannot be used to set aside a valid trust created under Bermuda law.?
The object of the amendment, Ms Cox said, ?is to be certain that forced heirship rights do not extend to affect the ownership of property in Bermuda or any other personal property, wherever it is situated, and that foreign laws pertaining to succession, forced heirship and creditors rights in an insolvency case may not be used to set aside a trust set up in Bermuda.? said the amendment was not so much a change in policy as an ?improved drafting? of the bill.
