By specialising in a segment of the Expatriate community we are able to offer a higher standard of service to our clients in this important area of planning.
This is known as dying ‘intestate’. Most Estate Planning opportunities which can reduce Inheritnce Tax are lost. Under English Law, assuming you are a British citizen, this will depend on whether: you are married; how many children you have and the value of your Estate. If you are married with no children your spouse will receive the full value of your Estate. If you are married with children and the value of your Estate is below £250,000 all of your Estate will pass to your spouse. Where your Estate is worth more than £250,000 half will go to your Spouse and the balance will be equally divided amongst your children.
If you have not written a Will yet, you should do so now.
A Will only takes a few hours to write but the thought process takes longer as there are many aspects for you to consider before writing the Will.
Every 5 years or when there is a significant change in circumstance such as : inheritance, marriage, divorce or birth of a child / grandchildren.
It is important for the Will Writer to independently establish your testamentary capacity and to, as far as possible, check you are under no external pressure as it is your Will and not that of another.
Please see article on main page here.
This will depend on many factors such as if you havs assets in more than one jurisdiction, what those jurisdictions are, what the assets are and how the laws of both jurisdictions interact.
Yes, most jurisdictions allow you to write your own Will.
Your Will must be kept safe but in a place the is readily accessible and in a location known to your executor.
No, Will Writing is unregulated in the U.K., therefore you should check the credentials of anyone offering a Will Writing service.
By searching for membership on the STEP or SWW (professional bodies covering Will Writers).
A charge made by UK tax authorities on Worldwide assets for those who are UK domiciled and UK cited assets for those who are not U.K. Domiciled.
Inheritance tax is paid from the Estate of the deceased by the personal representative / executors.
Please see article on Home page (what to consider when writing a Will)
For Non-Muslims, Sharia Law permits Estates to be governed under the law of deceased’s country of origin or nationality with certain caveats. However, as with all aspects of Private International Law the situation is complex and you should discuss this matter with an appropriately qualified and competent professional.
Your assets and liabilities, usually everywhere but can be limited to a particular location for some Wills.
Certain assets cannot be included in your Will such as certain jointly owned property and assets held in Trust eg some forms of pension. Ask a Will Writer for more information.
A legal structure established by the Settlor on behalf of beneficiaries and managed by the Trustees.