Making a will...
 

We currently have no will and looking to make one. We are L visa holders (applying for GC) and all beneficiaries would be UK based.

We'll talk to a lawyer but does anyone know if we need a UK will as well as a US one? Are they very different or should one hold up in either country? This is to cater for guardianship of kids as well as money.

Just not sure whether to contact a UK or a US lawyer first. Any tips or experience appreciated.

Thanks,

Doug.

Re: Making a will...
 

I would be interested in this as well - maybe we can get a BOGOF deal :D

Re: Making a will...
 

I believe a will is valid only under the laws of the country where it was executed. Therefore, a will executed in the US will only be valid in the US. Regardless, a beneficiary of the will can live anywhere. Also, the most recent will will invalidate all others and supersede them... so if/when you return to the UK you can have a new will drawn up (or adapt the US one) which will then be valid in the UK and supersede the US one.

Ian

Re: Making a will...
 

Is this the royal "we"? :)

If not, are you sure there are no intentions to leave stuff to each other? That has a big potential tax implication.

The key thing to watch out for is the tax situation, so certainly when you discuss with a lawyer make sure they fully understand the implications of the fact that you are not US citizens.

Re: Making a will...
 

We just done ours with LegalZoom.com around $75

Re: Making a will...
 

I will also be following this thread with interest as we need to get our wills in place - me and Hubby - what happens if we have property in the UK, do we put that into a will in the US, or do we need to get 2 wills done. We did speak to our solicitor in the UK but she was unsure and said to ask someone over here first.

We have been dragging our heels on this, I have given myself 2010 to get this sorted!

Re: Making a will...
 

My understanding is that you normally file a will with the country/state that you are domiciled (the laws of one state may differ from another on wills).

The primary issue will likely be taxation. In the US, estate tax is normally not accessed when the beneficiary is the spouse. When assets are in different countries or states, that can complicate tax issues (tax treaties, probates, etc.).

The following are the estate tax exemptions for federal and state.

http://wills.about.com/od/understand...tetaxchart.htm

Re: Making a will...
 

Good point - I forgot about the missus. Yes - first tier of beneficiaries would be US based, although not sure what happens to my L2's status-wise if I were to die prior to GC - assume they have a period of grace before leaving?

Re: Making a will...
 

Thanks for this - some nightime reading for us!!

Re: Making a will...
 

I read 'somewhere' that if hubby pops his clogs while we are on the L visas me (and dude) have something like a month to pack our bags and get out but what you have to do is apply for a B? Visa which gives you extra time to sort everything out before being chucked out. Something along those lines anyway.

Like I won't have anything better to think about than visas - you know like funerals, grieving or oh yeah and how to spend all his money :eek:

Re: Making a will...
 

She would have to leave the US...not sure what the time line would be...maybe 30 days. I remember one of the 9/11 widows was a L2 and was required to leave...however the President gave her permission to stay due to the circumstances.

Re: Making a will...
 

You do need a separate will for each country - beneficiaries can live anywhere as has been said. I can only speak for the UK wills - don't automatically think that the only option or choice is to leave assets to each other - this is where they can get sold off to pay for care etc in this country - if you are here that is. The US, as well as other countries, will have there own laws/rules etc.

Re: Making a will...
 

Another vote for Legal Zoom. :thumbup:

Re: Making a will...
 

A broad statement without a reference?

In reality, most jurisdictions do have procedures to accept out-of-jurisdiction wills for probate. That said, it is usually better to have a will in the same jurisdiction as the majority of one's assets.

Having two wills is a solution for some, but unless they are very clearly worded, may be more of a problem.

Re: Making a will...
 

No, a very narrow and precise statement about what Ian believes.

While you may not agree with that statement I have little doubt that Ian does believe it ... :)