With an increasing number of people owning property abroad dealing with its disposal following death can be tricky if the appropriate consideration has not been given. There are many things to consider when purchasing property abroad and the question of how it will be disposed in the event of death should not be ignored.
The law relating to the ownership of property, taxes payable and who property passes to on death differs from country to country. In some countries there are statutory requirements regarding succession which may override the specific wishes of a Will. It is important therefore to obtain advice especially from advisors in the country of purchase. If making a foreign Will It is critically important to consider whether it has any bearing on a Will made in the UK and as a consequence disposal of UK assets.
Where assets are owned abroad and in the UK legal jurisdiction over which Will prevails if one in each country is determined by a number of factors including domiciliary.
It is wise if considering the purchase of foreign property to seek advice from lawyers in the country of purchase and in the UK on potential conflicts or problems regarding your estate in the event of death.
At Edward Hands & Lewis we have qualified and experienced solicitors on hand to provide impartial advice to you if you are contemplating the purchase of property abroad or require amendments to a pre-existing Will.
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