Wills and Trusts
When it comes to your finances, few things are as important as securing your wealth and assets. Wills and Trusts are an important means for wealth preservation and allow you to pass wealth on to family members, now and when you die. Owning assets in different countries can greatly complicate the probate and succession process.
The different laws and taxes around the world mean that international probate can be much more complicated and time-consuming. However, we are experienced in advising clients with the regards to the drafting and construing of wills and international probate issues, and the interplay between the succession laws of involved countries when administering an international estate.
Our relationships with trusted and like-minded firms overseas mean we have the local in-country knowledge required to ensure the best outcomes. In particular UK Executors often need to supply HMRC with details of foreign assets – which often they have no authority to demand in that foreign country – negotiating the best way to obtain the information to satisfy the requirements of each jurisdiction is essential. In particular UK Nationals need to be aware that many countries have no recognition of the role of Executor. It is important to understand who is responsible for dealing with assets in various countries even where UK Executors are appointed.
 |
Clive Pointon
Partner & Head of Wills, Trusts & Tax |