It is important to understand that there is no such thing as one truly international Will that would cover every asset in every country. Each country has their own succession laws and it may be advisable to make a separate Will in some of them. However, most countries do recognise a foreign Will, if it is prepared properly, and this can present the opportunity to include foreign assets.

Many people with international assets consider their situation too complicated to think about and, as a result, the task of making their Will gets put off and possibly forgotten altogether. This can cause serious problems for the family when they are trying to sort out an estate.

The Covid pandemic acted as a ‘wake-up’ call for many but still, *56% of the (UK) population do not have a Will. This is reflected all over the world with many countries being much higher, such as Malaysia at 80%.

The truth is that, if you don’t have a Will, you die ‘intestate’ and your assets will be dealt with according to the laws of the country they are situated in. They will be distributed according to those intestacy laws so you have no control over who inherits, what they inherit, or who doesn’t receive anything.

This can give rise to family conflicts and take years to resolve. Not to mention the cost.

*Source: https://www.legalandgeneral.com/insurance/over-50-life-insurance/wills/planning-for-future/

It is logical to have your Will professionally prepared, giving you and your loved ones peace of mind.

Excelsior is available to help you with these difficult decisions and we welcome any queries or concerns you may have.

Feel free to contact us.

Free advice is available by text or email.

EXCELSIOR LEGAL & ESTATE SERVICES (UK) LTD

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