can a foreign spouse be a payment on death beneficiary?

adiyaman

Hi


Was wondering if anyone can help/has encountered a similar situation...


I am currently living in Turkey with my Turkish wife. We have no immediate plans to return to the UK so it is not possible to create a joint account with my UK-based bank. However, I was wondering if it is possible to set my wife up as the beneficiary to my bank account when I die. I don't know if it is possible for foreign spouses who have never resided in the UK to be nominated as the beneficiary to the UK bank account of a deceased UK national. Grateful for any info/ suggestions on this.


Thanks


Jason

DesG

There is no such thing as a beneficiary of a bank account.

You can have a nominated beneficiary on say pensions and life assurance etc but not a bank account.

If you die the balance of your bank is part of your estate and will be distributed according to your will if you have one.

The fact that you are resident in Turkey, I'm not sure which laws/tax regime would apply, you should investigate more.