Emma_Par

Regarding wills, do you have to have one in uk and one in oz?

Buzzy--Bee

Yes if you have assets in both.

BB

Emma_Par

It's what I thought, cheers me dear

John Albany

You can dispose of your assets by a single will wherever they are located.
Whilst it is possible to have two contemporaneously valid wills dealing with separate matters, the drafting needs to be spot on to avoid a Bleak House scenario. Ordinarily a later will is expressed to revoke all earlier wills to avoid such conflicts. Anyway two wills doubles the legal and probate costs and may have unintended tax consequences.

Dimond

I was told by a solicitor that a single will was valid in both countries as long as all witnesses were present with the person who the will is for were present at the same time when the will was signed and witnessed.

Emma_Par

Thanks peeps

JAJ

Check with an English (or Scottish/Northern Irish) solicitor if important, but as far as I understand an Australian will can usually be admitted for probate in the relevant UK jurisdiction if there are assets there. Normally, you do NOT want to have two wills at the same time.

As a result, it is generally better to have your will in the place where you are a permanent resident. Normally, if you are permanently in Australia, you will want to have an Australian will. It also is a good indicator of shedding a UK domicile, which is also something you normally want to do (as it gets you out of Inheritance Tax on non-UK assets).

Emma_Par

Is there inheritance tax in Australia?