Estate Planning and Wills
#46
Re: Estate Planning and Wills
You can avoid probate. I have not had to go through probate, this may depend on which state you live in. with good estate planning you can minimize taxes. think you have it the wrong way round.. probate is only a way of changing ownership, this can be done in a number of ways..
#54
Re: Estate Planning and Wills
Assuming we might need one as likely to acquire more sh!t between now and then. Like yer do. Stuff.
Fair enough then, but what about America? Do they care about an English will? England doesn't care about US naturalisation do they?
#55
Re: Estate Planning and Wills
Don't make assumptions about what is or is not acceptable, and don't listen to off-hand advice from lawyers either (in other words, if it's important, see a specialist and get the advice in writing with reference to the law in that jurisdiction).
#56
Lost in BE Cyberspace
Joined: Jan 2006
Location: San Francisco
Posts: 12,885
Re: Estate Planning and Wills
In general, that's true and why it's a good idea to make sure you have other probate-avoiding devices (living trust, joint ownership with right of survival, beneficiaries for IRAs etc) for your assets. However some states have exemptions to probate for small and straightforward estates.
#57
Re: Estate Planning and Wills
Yes you can. It depends on the country that holds jurisdiction over where the will was written. So it's worth having one for UK assets in the UK, and one for the state in which you reside in the US.
#58
Re: Estate Planning and Wills
Each jurisdiction (each U.S. state, while in the U.K. England/Wales, Scotland and Northern Ireland are all separate jurisdictions) may have its own rules about whether or not it accepts wills from other jurisdictions.
Don't make assumptions about what is or is not acceptable, and don't listen to off-hand advice from lawyers either (in other words, if it's important, see a specialist and get the advice in writing with reference to the law in that jurisdiction).
Don't make assumptions about what is or is not acceptable, and don't listen to off-hand advice from lawyers either (in other words, if it's important, see a specialist and get the advice in writing with reference to the law in that jurisdiction).
Sorry Bob but you're wrong they would try and make sense of your US Will.
#59
Re: Estate Planning and Wills
Just because you have been involved in this area before does not automatically mean you are right, with respect.
And even if you are right with respect to England and Wales law, does it matter if the property concerned is situated in another jurisdiction with a different viewpoint?
#60
Re: Estate Planning and Wills
Not that I can be arsed to drag this about, but it was one of the things I got sorted out before I buggered off out of blighty covering assets in another country as well as stuff from blighty.