Financial planning - what happens to bank account when...

stevat

Savvy_Sue said:

If the OP here gave us a clue about the country or continent where they married, we might be better able to comment on the likelihood of it being a legal marriage. But personally I'd always have wanted the security of a translated marriage certificate if I wasn't living in the country where I married, and that is where I'd probably start in their position. If they are married, there is less pressure to make a will (although that's still highly recommended, especially for the second death). 

We got married in Greece (both Greek citizens) and we already have all of the official documentation necessary to prove it. It's just a matter of getting it translated (and apostile'd if necessary). This was the original crux of my question, i.e. whether any documentation needs to be apostile'd and whether it has to be recent (at the point of use). We have the original documents from when the wedding took place, but I was wondering if it's perhaps necessary to have relatively freshly issued ones when you need to use them with, for example, the bank.

But it looks now that the best strategy is to cover all bases and do both: have all the marriage certs available and translated, and also make appropriate wills.

Mands

But it looks now that the best strategy is to cover all bases and do both: have all the marriage certs available and translated, and also make appropriate wills.

That's your safest option, for sure.  

For what it's worth I'm English, permanent resident in Cyprus and married in the Caribbean. When my husband died I provided original un-apolstile'd, untranslated documents. The marriage certificate was in English, the death certificate in Greek and English. No one asked for more in that regard.

It is worth noting that wherever someone dies the administration is significantly easier if one has multiple original copies of the death certificate.  Pre-Covid everyone insisted on receiving an original copy by post and the turnaround to get them back is significant. 

Savvy_Sue

also worth pointing out that if you are leaving a bequest to family in another country on the second death, you may want to be familiar with the law and tax situation there. In the UK, any inheritance tax due is paid before the beneficiaries get anything, and there's no tax on gifts. In other countries, tax may be payable by you personally if you receive a bequest and / or a gift. No idea if Greece is one of those or not. 

getmore4less

SeniorSam said:

If you are both killed in an accident, do you want the State to have all the assets? If not, Make a Will.

In most cases that does not happen it's very rare.

One known living relative and it won't make it to the BV list.

Once the HH have a stab that catches a load more.

RAS

Yeo, but I would much prefer those who I want to benefit to get my estate, rather than paying heirhunters' fees and it to be distributed partly to people I'm not interested in. 

stevat

Thanks all for your comments, info and insights!

All very helpful and has helped us towards our planning - still got a birt of reading to do, but it looks like we'll try to cover all our bases with wills and with having all necessary docs available and translated.

bunnygo

one thought re executors; have a think about being each other's sole executor. That means that the bereaved spouse has to deal with everything as well as their grief. And if the bereaved spouse develops dementia that could add a lot of work and hassle for someone. Consider adding a second executor - executors can always drop out but can't be added. I would also suggest that the second executor is NOT a solicitor. Lay executors can always engage a solicitor when the time comes if they so wish.

of course do check with a professional.

Garbushka

It is not that hard to arrange something like this, but it should be applied under several conditions.