Making A Will
Feb 18th 2012, 7:28 pm
#16
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,172
Re: Making A Will
Come on then: under what circumstances would you need/want more than one? I'm no lawyer but I can see the arguments (or worse) developing already....
"I'm in Will 1, but not in Will 2?? I'm going to sue!"
"Will 2 is dated later than Will 1, so Will 1 must be invalid!"
"It says here that this will replaces all previous wills - that must include the one written in another country!"
"Dad owned property in the UAE?? I never knew that - he never told me! Can I challenge his UAE will?"
"Sharia Law?? What the ****'s that?? I'm going to ask my solicitor in Bognor Regis for his views!"
Good grief...............
"I'm in Will 1, but not in Will 2?? I'm going to sue!"
"Will 2 is dated later than Will 1, so Will 1 must be invalid!"
"It says here that this will replaces all previous wills - that must include the one written in another country!"
"Dad owned property in the UAE?? I never knew that - he never told me! Can I challenge his UAE will?"
"Sharia Law?? What the ****'s that?? I'm going to ask my solicitor in Bognor Regis for his views!"
Good grief...............
If you have assets in one country that you don't want another country to know about, maybe for tax reasons or whatever, you don't lump everything together.
Another instance, those who aren't US citizens get a much lower threshold before stuff gets taxed on the estate so if you've got assets in the US it makes sense to limit what might be seen there by the estate.
Feb 19th 2012, 12:42 am
#17
Lost in BE Cyberspace
Joined: Jul 2007
Posts: 13,553
Re: Making A Will
I said to have a will in a country covering assets in that country, so what you're saying won't happen.
If you have assets in one country that you don't want another country to know about, maybe for tax reasons or whatever, you don't lump everything together.
Another instance, those who aren't US citizens get a much lower threshold before stuff gets taxed on the estate so if you've got assets in the US it makes sense to limit what might be seen there by the estate.
If you have assets in one country that you don't want another country to know about, maybe for tax reasons or whatever, you don't lump everything together.
Another instance, those who aren't US citizens get a much lower threshold before stuff gets taxed on the estate so if you've got assets in the US it makes sense to limit what might be seen there by the estate.
I have one will, and am doing my best to ensure that it is applicable and recognised in every country that matters - where I live, where I might retire to, where the assets are, and where the beneficiaries are located.
Feb 19th 2012, 1:01 am
#18
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,172
Re: Making A Will
You seem very trusting............ if I found out that my father, say, had substantial assets in another country, and that I wasn't a beneficiary I might get a little shirty........ or are you suggesting that the beneficiaries would only be chosen from the same country in which the assets are located?
I have one will, and am doing my best to ensure that it is applicable and recognised in every country that matters - where I live, where I might retire to, where the assets are, and where the beneficiaries are located.
I have one will, and am doing my best to ensure that it is applicable and recognised in every country that matters - where I live, where I might retire to, where the assets are, and where the beneficiaries are located.
Beneficiaries can get shirty where ever and whatever the assets, so it wouldn't make a difference if they contested the will so the only way to prevent that is to equally distribute stuff.
So nothing changes.
All this does is separate assets and tax liabilities if you didn't want them mixed up, which for some people, in some countries can be to your advantage.
Feb 19th 2012, 4:56 am
#19
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: Making A Will
Just once more - as a British national ONLY your LAST will is valid. If you have more than one others will be invalidated. Fact.
Do not make multiple wills for different countries as that is not how the system works. Just because you have assets outside of the UK, it doesn't mean that aren't subject to UK law. If you are UK domiciled - and most people will be - you are subject to UK Inheritance laws, and taxes, on death no matter where you have been residing or where your assets are.
I am not a solicitor, but I do know how the system works. Make sure you speak to a professional who really understands the legal implications as lawyers make more money from sorting out incorrectly written wills (especially home drafted ones) than they do from writing them in the first place.
Do not make multiple wills for different countries as that is not how the system works. Just because you have assets outside of the UK, it doesn't mean that aren't subject to UK law. If you are UK domiciled - and most people will be - you are subject to UK Inheritance laws, and taxes, on death no matter where you have been residing or where your assets are.
I am not a solicitor, but I do know how the system works. Make sure you speak to a professional who really understands the legal implications as lawyers make more money from sorting out incorrectly written wills (especially home drafted ones) than they do from writing them in the first place.
