We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Flat in Europe. Shall I make 2 wills?
BobFreeman
Posts: 17 Forumite
Is it legal and/or advisable to have 2 wills and 2 executors? One for UK and one for EU estates? How would the executors to know if I die in 3d country?
I am asking to minimize will costs and execution and inheritance tax.
I am asking to minimize will costs and execution and inheritance tax.
0
Comments
-
If you own property in more than one legal jurisdiction, you normally need wills for each different country (there are some exceptions). If you could be more precise than 'Europe' it would help!0
-
Make sure that you keep instructions with your passport of who to notify in case of death. Low cost equated to difficulties in executors understanding what to do and may end up asking a lawyer anyway. If you do go along the lawyer route, make sure that they are STEP qualified, as many solicitors take on administration and do not have much of a clue. WEhen working. I met several like that.I'm a retired IFA who specialised for many years in Inheritance Tax, Wills and Trusts. I cannot offer advice now, but my comments here and on Legal Beagles as Sam101 are just meant to be helpful. Do ask questions from the Members who are here to help.0
-
According to your other thread your estate is well within your UK IHT limits so unless your non UK property is subject to IHT you should not have to worry too much about that.
Whether you need a second will or not will depend on which country the flat is located in, but just make your daughter and SD executors. They are to be the main beneficiaries and they can always get professional help winding up your estate if necessary.
The ownership issues of the flat might cause issues so why not just get rid of it?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards