Anyone speak legalese ?
#1
Chocoholic !
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Anyone speak legalese ?
Can anyone tell me what this means :
Legal Rights: Under Scots Law, children are entitled to claim Legal Rights from their parent’s moveable Estates (which excludes land and buildings) where there is no provision for them in a Will, or as a substitute for such a provision. If there is a surviving spouse, each child can claim an equal share in one third of the moveable Estate, otherwise the claim amounts to a share in one half of the moveable Estate. Legal Rights can also be claimed by the descendents of any predeceasing children.
We are finally trying to get wills sorted out (after 14 years of marriage and a 12 year old son) and our UK solicitor advises that we have to make a UK will and a US will. The above will be part of the UK will but I'm jiggered if I know what they are on about .
Legal Rights: Under Scots Law, children are entitled to claim Legal Rights from their parent’s moveable Estates (which excludes land and buildings) where there is no provision for them in a Will, or as a substitute for such a provision. If there is a surviving spouse, each child can claim an equal share in one third of the moveable Estate, otherwise the claim amounts to a share in one half of the moveable Estate. Legal Rights can also be claimed by the descendents of any predeceasing children.
We are finally trying to get wills sorted out (after 14 years of marriage and a 12 year old son) and our UK solicitor advises that we have to make a UK will and a US will. The above will be part of the UK will but I'm jiggered if I know what they are on about .
#2
Re: Anyone speak legalese ?
They get a split of the swag (cash and anything that isn't house/land) if you both die, they get a smaller split of the swag if only one of you dies, if they die and they have kids, their kids automatically get their share.
Bit overly simplified, but that's it in a nutshell.
Bit overly simplified, but that's it in a nutshell.
#3
Re: Anyone speak legalese ?
They get a split of the swag (cash and anything that isn't house/land) if you both die, they get a smaller split of the swag if only one of you dies, if they die and they have kids, their kids automatically get their share.
Bit overly simplified, but that's it in a nutshell.
Bit overly simplified, but that's it in a nutshell.
I'm not a lawyer but I play one on TV. I'm pretty sure there are plenty of other threads on here about UK and US wills. Might be worth searching for them. I have no idea if one trumps the other in any way.
Check out these threads:
http://britishexpats.com/forum/showthread.php?t=691665
http://britishexpats.com/forum/showthread.php?t=572801
Last edited by sir_eccles; Jan 12th 2011 at 12:13 am. Reason: added extra reading
#4
Re: Anyone speak legalese ?
Where are your assets located? Having two wills always risks one conflicting the other. If you are a US citizen/PR you should look at the option of having a US will covering worldwide assets. Your UK solicitor should be able to tell you what the process would be to have a US will admitted for probate in the UK. Also note you suggest that the jurisdiction is Scotland, so things may be different to what prevails in England.
#5
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Re: Anyone speak legalese ?
Majortiy of assets are now here, with only pension/life assurance policies left in UK, when/if green cards are approved we will try and have everything over here other than pensions which are tied up but our executor and the person who gets our son should the worst happen are in the UK. This is why we have put off making our wills, when you start actually having to think about it it gets really complicated.
#6
Re: Anyone speak legalese ?
Majortiy of assets are now here, with only pension/life assurance policies left in UK, when/if green cards are approved we will try and have everything over here other than pensions which are tied up but our executor and the person who gets our son should the worst happen are in the UK. This is why we have put off making our wills, when you start actually having to think about it it gets really complicated.
Your son can't be left to anyone in a will (children aren't property) so all you need to do is check what's the best way to document your wishes in a way that will be recognised by Scottish law. An affadivit made in the US and attached to your will might do. Ask for advice (in writing) from a Scottish lawyer.
If you get green cards, then what would be the plan for your son as he gets older? At what age might he be able to contemplate staying in the US, especially if you have set up enough of a support network and/or life insurance to pay the bills?
The following are written with an Australia perspective but may have some application to your situation:
http://britishexpats.com/wiki/UK_Will-Australia
http://britishexpats.com/wiki/Guardi...dren-Australia
You might still need a Scottish will at the end of the process, but I'd start with a US will (better than the nothing you have) and make adjustments later on if necessary.