Petra

Hi Folks!

I am posting my question here because I assume that the readers of this thread consist of 'mixed' marriages, and the issue of last will and testament for 'our kind' could be a little more complicated than usual. After all, more than likely there is family in both countries to be considered, and maybe something like what the IRS likes to refer as "Worldwide possessions" will come into play.

I have been thinking about the subject, and not sure how to go about it to distribute goods and monies to relatives in the home country, as well as to American relatives. What I would like to know is how you have dealt with this, and maybe I can collect some ideas on how to best deal with the circumstances, so that I will appear better prepared before our legal advisor in this matter.

Oh, and also, if you have tips on how to avoid making common mistakes, maybe things you have heard about, or things you may have witnessed, they are very welcome as well!

Thanks,

Elvira

Sorry - can't help other than to say that, as usual, the US will not recognise any legal set-up that originates from anywhere other than their hallowed shores :curse: , so you need a will that is valid in your particular state.

As for me, I do not plan to be here when I pop my clogs...

ian-mstm

Sheila and I had wills drawn up a few years ago. Your will will be valid if it's drawn up in accordance with your state's laws. Let me preface this by saying that your will should specify what happens if you both appear to die at the same time. Since it's often difficult to determine who died first in such circumstances, I indicated that she gets everything (except as listed below) *if* she outlived me by 72 hours. So, if we both die within that time, then both wills are executed concurrently.

The whole point of the will is to get rid of everything you own... well, one way or another. My lawyer suggested that I write down those specific items I want other people to have - yes, even those living in another country - and then chose one person to get everything else. He also suggested, in the remote case that there was anything left over, that I bequeath the remainder to my alma mater. This ensures that your entire estate is disposed of... which is good for tax purposes. He also indicated that it is not uncommon to specifically indicate that if anyone contests the will, they relinquish their claim. While this may or may not be allowed by a judge, it has the advantage of helping to ensure that people will not make a fuss over the estate - especially handy in large or dysfunctional families.

It will be up to the executor of your estate to determine how best to distribute goods and money to people not living in the US... but that's not really a matter of concern within the will itself. You should probably have separate instructions for the executor.

I remember when my mom's uncle in the UK died many years ago. As the estate was slowly sold off, she would periodically receive a check in the mail - which was her portion in accordance with the will. As I recall, no actual property changed hands... it was all turned into cash before being divvied up.

Ian

Tracym

I used this software. If your situation isn't too complex, it might work for you.

http://www.nolo.com/product.cfm/obje...DD87A0A8A/309/

Petra

I like that option; take it or leave it! *S* I also have heard that you should at least leave someone $1.00 so that they can never say they have been overlooked?

So, choosing an executor wisely is of the essence. I'm sure a lawyer could do it (no immediate family close at hand) but only for $$$? Any idea what the cost would be? Also heard that preachers would be willing to fulfill this task. Anyone ever heard of this?

Tracym

You don't have to leave them a dollar. You can specifically say you are leaving them nothing.

Lawyer for executor... hmmm... well lawyers are rather known for getting their little hands on money. Of course, it depends upon the individual

Personally, I would pick the person I was leaving the largest portion of the estate to. The executor does not need to be close by, most things get done by phone or mail anyway.

Elvira

I agree.

Lawyers as executors - Try finding one who charges less than $200 an hour. And administering even a modest estate could fill a heck of a lot of hours...

Noorah101

My first husband was on the outs with his family (mom, dad, 3 sisters and a brother, all living in our same city). He drew up a will specifying that I was to receive everything, they were to receive nothing. No money, no estate, no personal effects. No matter how much I tried to get him to leave them something, he did not want to. It was VERY rough on me after he passed away...his family harrassed me for years about the insurance money and money he supposedly owed the family (which I never knew about and had no written proof of). I guess my point is, try not to put the estate executor into a situation like that....it's extremely stressful, on top of losing a loved one, to have to deal with petty family as well. I like the idea of a lawer, even though it might cost $$, because it will be someone on the outside who won't care a whit about who gets what.

Rene

Tracym

The question for me is if the lawyer would behave honorably. Not the amount you'd be paying legit. Not much oversight over executors.

Petra

OK, so a lawyer - as outsider - might be a wise choice but most likely, expensive.
Distant relative maybe a better choice still?

What about leaving the task of executor to the church preacher?
Anyone ever heard of that option?

Elvira

It doesn't matter who you appoint, but whether (a) they are capable of performing the duties of an executor, and (b) whether you trust them to do so honourably and adhere to your wishes.

In my case it made sense to appoint the chief beneficiary, but your mileage may vary

Petra

I understand, but in my case that might turn out to be problematic.
Not in case I would perish before my hubby, I would simply leave everything to him.

But in case something fatal would happen to the both of us, I am thinking about
leaving my earthly possessions overseas to my family there, and not to my hubby's direct family
(which would not be a logical choice, but I have no children, and my husband does)

I guess I do not know enough of the system here, to make a choice.
Would probate court notify the overseas family or, like Elvira said before,
really have nothing to do with anything remotely remote?

Tracym

While I mentioned not liking a lawyer for an executor, perhaps one to help you write the will might not be a bad choice.

I would think whoever the executer was would be notified, since it's probably done by mail. So I don't see why it would be a problem to send the letter overseas.

Of course, I don't know, there could be some kind of problem. You could ask an attorney, or perhaps even call the probate court and ask them.

Bob

You might want a will in the UK too...

Ray

I agree Bob .. you need a separate will for assets in another country ...
I had both a UK and US lawyer advise that.....

I had my wife as main executor and two others in each country
if we died at the same time ...

Also ensure the executors are younger than yourself ..
or they may clog it before you and you need a fresh will or have to add
a codicill