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Minor’s Inheritance to be Kept Overseas?
Missmuch
Posts: 1 Newbie
Hello Everyone.
Please help, someone. My ex-husband (British) left U.K. 2011, went to South Africa on a contract job, met a woman and re-married. We have a son (also British, 9) from the marriage and he then had a daughter. My ex died in S.A two years and left no will. The probate and results of the distribution of final accounts are now out and being officiated in S.A. I was sent a copy and it looks very fair but I am not happy with the decision that these officials want my son’s trust funds to be held in a Guardian’s account administered from South Africa. I do know that they have a law agent here in the U.K., why can’t they sort it through him and of course Iam worried about inflation, Rand to Pound over the next 9 years.
I would be grateful for any answers and the way forward. Thanks
Please help, someone. My ex-husband (British) left U.K. 2011, went to South Africa on a contract job, met a woman and re-married. We have a son (also British, 9) from the marriage and he then had a daughter. My ex died in S.A two years and left no will. The probate and results of the distribution of final accounts are now out and being officiated in S.A. I was sent a copy and it looks very fair but I am not happy with the decision that these officials want my son’s trust funds to be held in a Guardian’s account administered from South Africa. I do know that they have a law agent here in the U.K., why can’t they sort it through him and of course Iam worried about inflation, Rand to Pound over the next 9 years.
I would be grateful for any answers and the way forward. Thanks
0
Comments
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Who are the "officials" ? Are there any relatives there who would agree /direct to move the funds to the UK?0
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have you asked them if the funds can be held here?
is it possible holding this in Rands could end up being beneficial? Or do you know something about future currency exchange rates that the rest of us don't? I might 'do a Martin' and try to get the funds split between Rand and £Sterling.
But the bottom line may be that the SA court / probate process requires funds to be held in country, because only that way can they feel confident that the 'right' control is being exercised.Signature removed for peace of mind0 -
It might be helpful to think about how you would feel if the situation was reversed. If you had died and a UK lawyer was asked to ensure that Estate was held in trust for later payment to a son in SA. I think most of us would want the legal side of things to remain here until the date for payment, so it seems reasonable to me for the opposite to hold true.0
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