Will with assets abroad

Yorkshireman99

sunflowers123 wrote: »

Thank you for all of your replies.

My father is of sound mind but very ill health and ideally would like the quickest and most hassle free way of resolving this. So it's selling and gifting the shares?

Back to my original post, if nothing were done to the two existing wills, does it mean the UK will be partially invalid and the HK one will stand (even though this is a much older will)?

What do you mean about the UK will being partially invalid? As far as any will made in HK you need to check what the law is there. Don't assume it follows UK rules. To do this you need to ask a lawyer who deals with HK law. There are some in this country but it will cost.

sunflowers123

Due to my father's ill health, it looks like he may leave the Wills as they are. So a HK Will that was drafted over five years ago and a UK Will which was drafted a year ago, which are his actual final wishes.

Headache. Wish us luck.

Yorkshireman99

sunflowers123 wrote: »

Due to my father's ill health, it looks like he may leave the Wills as they are. So a HK Will that was drafted over five years ago and a UK Will which was drafted a year ago, which are his actual final wishes.

Headache. Wish us luck.

The UK will is valid for assets in the UK and the HK one for the HK assets unless he married since the wills were made. Also remember we are assuming the UK will is actually an England and Wales one. If there are Scottish or Irish assets it gets more complicated.

sunflowers123

So I've found a reputable solicitor (partner) who has stated he can definitely draft a Will which will cover all of his assets in the UK and HK. When I questioned this, he said he was correct. I'm not convinced. All my google searches point in the opposite direction. Anybody got any helpful advice please?

Savvy_Sue

Does he mean he can draft two wills, one for each jurisdiction?

Yorkshireman99

sunflowers123 wrote: »

So I've found a reputable solicitor (partner) who has stated he can definitely draft a Will which will cover all of his assets in the UK and HK. When I questioned this, he said he was correct. I'm not convinced. All my google searches point in the opposite direction. Anybody got any helpful advice please?

The solicitor is probably telling porkies. Don't pay him anything. Google UK Solicitors who also practice in HK.

sunflowers123

Savvy_Sue wrote: »

Does he mean he can draft two wills, one for each jurisdiction?

No, one that will cover everything!

Keep_pedalling

It really depends on what these assets are. If they are simple stocks listed on the HK stock exchange, then yes a UK will should cover it, and the shares can be sold via a number of UK stock brokers.

It is the same with any stocks that are traded internationally. Property on the other hand is very different.

Yorkshireman99

Keep_pedalling wrote: »

It really depends on what these assets are. If they are simple stocks listed on the HK stock exchange, then yes a UK will should cover it, and the shares can be sold via a number of UK stock brokers.

It is the same with any stocks that are traded internationally. Property on the other hand is very different.

It depends on which specific ststock exchange the shares involved are listed on. Just because a company's shares are listed on more than one exchange does not automaticly tradable on all exchanges. The OP needs to establish where the shares are, as it were, domiciled.

Keep_pedalling

Yorkshireman99 wrote: »

It depends on which specific ststock exchange the shares involved are listed on. Just because a company's shares are listed on more than one exchange does not automaticly tradable on all exchanges. The OP needs to establish where the shares are, as it were, domiciled.

As long as the shares are tradable on one of the major SEs then it is relatively easy to find a UK broker who will handle the sale. I have had to do this with NYSE listed shares in the past.

Might be worth the OP ringing a broker or 2 to clarify the situation on these particular shares.