In our increasingly globalised world, it’s not uncommon for individuals to have family and own assets in different countries. Indeed, our founder, Paul Wood FRSA has family in different countries across the globe. Whether it’s a holiday home in Spain, a bank account in Australia, or stocks in the US, these international assets are a testament to your hard work and life’s journey. Naturally, you’d want to ensure they’re handled correctly in your will. Here’s what you need to know when drafting a will in England or Wales that covers international assets.
Drafting a Global Will
At GetWill, we understand the complexities of international estates. While our wills are drafted in England and Wales, we can tailor your will to include provisions for your global assets. This ensures a comprehensive approach, providing clarity and security for all your assets, regardless of where they’re located.
Informing Your Executors
Administering an international estate is understandably more intricate than one confined to a single country. It’s recommended to:
- Inform your Executors: Ensure your executors are aware that your will covers assets abroad. This knowledge will prepare them for the added responsibilities and complexities that come with international assets.
- Provide Detailed Information: Offer your executors a clear list of all your international assets, their locations, and any associated documentation. This proactive approach can simplify the process when the time comes.
Considering a Professional Executor
Given the complexities involved in managing international assets:
- Professional Expertise: You might wish to consider appointing a professional executor. They possess the expertise to navigate the legal intricacies of different countries and ensure assets are distributed as per your wishes.
- Speak to GetWill: If you’re contemplating a professional executor, feel free to discuss it with your GetWill advisor. We can provide insights and advice tailored to your unique situation.
Periodic Review
Assets, laws, and personal circumstances can change. It’s advisable to periodically review your will, especially if you acquire new international assets or if there are significant legal changes in the countries where your assets are located. Let your GetWill advisor know whenever you need to make updates to your will – we are here to help.
Your Global Legacy with GetWill
Owning international assets is a reflection of your world-spanning life and endeavours. At GetWill, we’re committed to ensuring that your legacy, both domestic and international, is honoured as per your wishes. As you navigate the journey of drafting a comprehensive will, know that our advisors are here to guide and support you at every step.
