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116Legal FocusAPRIL 2013Inheritance and Estate TaxSwitzerlandIncreased mobility among high net worth individuals and familyowned and private companies with assets in multiple countries hasmeant estate planning is subject to ever more complex tax issues. Inturn, individuals are increasingly seeking specialist estate lawyers tohelp navigate complex legal affairs relating to inheritance andtax, such as tax residency and domicile and the tax aspects ofinternational investments. To find out more, Lawyer Monthly speaks toKinga M. Weiss and Stephan Neidhardts from one of Switzerland’sleading law firms, Walder Wyss.Please introduce yourself, your role and yourfirm:Walder Wyss clients include national andinternational corporations as well as public-lawentities and individuals. The firm offers privateclients comprehensive advisory services and wehead the private clients’ team. We providesupport with relocating to Switzerland and withplanning as well as setting up appropriatestructures and evaluate the most suitabledomestic and international arrangements.What are the most challenging aspects of yourrole? How do you navigate the challenges thatarise?The most challenging aspect of our privateclient’s work is to elaborate state-of-the-artsolutions on a case-by-case basis for the clients.Each case is different and requires an overallassessment of all circumstances of the clientincluding his personal affairs. With ourlongstanding expertise and many years ofpractice experience in private client’s work wenavigate these challenges by a thoroughanalysis of each case.to simplify the processing of cross bordersuccessions within the EU, the conflict-of-lawrules on cross-border successions of 24 membersof the EU have been harmonized and will byoperation of law directly be applicable to alldeaths on or after 17 August 2015. The EUSuccession Regulation provides for one singlecriterion for determining the jurisdiction and thelaw applicable to cross-border successions: thelast habitual residence at the time of deathof the deceased. Pursuant to Swiss law theconnecting factor in inheritance issues is the lastresidence of the deceased. In cases, where theEU and the Swiss connecting factors will notbe defined congruently, conflicts will arise.Therefore, it might be recommendable fortestators to make a choice of law in the last willin favour of his law of citizenship. The broadscope of the member state’s competencesmight also lead to conflicts. Hence, already asof today the EU Succession Regulation has tobe considered and appropriate actions mightbe necessary.What is the most efficient way in which clientscan minimize their tax liability when it comes toa substantial inheritance?Have there been any legislative changes thataffect your practice area?In the international inheritance law area actionsneed to be taken based on the EU SuccessionRegulation (No. 650/2012), which entered intoforce on 16 August 2012. Switzerland is not amember of the EU, but is affected by it. In orderIn Switzerland the inheritance tax falls into thecompetence of the cantons. Most cantons levyan inheritance tax except the canton ofSchwyz. The inheritance tax is generally leviedon the deceased’s worldwide assets and bythe canton where the deceased had his lastresidence. In cases where a real estate istransferred, the canton where the real estate iswww.lawyer-monthly.com