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When it comes to your inheritance arrangements, being an expatriate can complicate things; particularly when it comes to cross-border issues. It is important to understand that in some countries it can be impossible to overcome laws of succession. For example, certain laws dictate that an individual must appoint a specific percentage of their wealth and estate to their next of kin and in many cases this cannot be overwritten by a Will.
For those of you with property, land, stocks, bank accounts and personal possessions in countries other than the one you are living, regardless to whether or not it is your official domicile or residency; you should endeavour to put a Will in place, written under the laws of the land in question ensuring that everything that you own will be distrusted appropriately, in accordance with your wishes.
Your Will should be dealing with the specific assets in that particular territory and be mindful that it doesn’t revoke any of your other international Wills. Be careful, plan thoroughly and seek the relevant legal advice so that if you have accumulated several properties or assets throughout various countries in your lifetime, that you have the relevant geographical information in place to ensure that everything in divided up properly.
Don’t take any chances or leave any room for error – contact us today so that your international legacy has an appropriate succession plan in place.
Contact us throught a representative or submit an enquiry online.
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