Prince, Bob Marley, Abraham Lincoln, Martin Luther King, Pablo Picasso…. What do they all have in common?

They all died without making a Will.

I know we’ve asked before but we’ll ask again…

Have you made a Will?

As an Expat, there are even more reasons to have a valid Will in place. Different countries have different rules around inheritance, property and tax. You need a Will that protects your assets as much as possible and ensures that your wishes are carried out in regards to your estate. It is vitally important therefore that any Will meets the requirements in the country in which you live and is legally valid. If you do not have the right type of Will in place then you risk the following:

  1. Your assets may not end up where you want them to go.
  2. It can take several years to sort out the mess across different jurisdictions.
  3. Your estate may end up paying more tax than is necessary.

Great, you’ve got one. Now, when should you update it. (Heath Ledger did make a Will but failed to update it to include his daughter.)

As with everyone, you should update your Will after any major change in your life. As an expat though, there is the potential for more external forces to affect your Will and it is worth reviewing it regularly with a solicitor. The common life changes are as follows:

  • Getting separated or divorced.
  • Getting married.
  • Having a child.
  • Acquiring new assets.
  • Moving house/location.

If you feel you would like further information please email lesley.stevens@abg.net

Lesley Stevens
Client Services Director - International Education and NGO

Posted In : Savings, Expatriate, Tax, Will Writing