Foreign property and probate

Foreign property and probate

Foreign property and probate

With summer nearly upon us many will leave the UK to holiday at their holiday homes abroad. Second homes (or even third homes) are increasingly common both at home and abroad. The ownership of foreign assets drastically raises the complexity of your legal affairs, particularly relating to who inherits them and the issue of inheritance tax, as more than one country's set of rules could apply.

When someone dies an English Will may suffice in dealing with some foreign assets. But expert legal advice is needed if you own property abroad because of probate issues and tax legislation: what happens to the property depends on the law of that country.

You may be advised to have a Will in more than one country, however there is the risk that one Will could accidentally revoke the other Will with the upshot that when you die your wishes are not fulfilled.

Some countries have double taxation treaties with the UK but often properties cannot be transferred without having probate in the country in which the property is. In such cases, the succession law and legislation of that country may apply. Consequently the ownership of foreign properties can considerably lengthen the time taken to administer of your estate.

France, for example, has particularly complex succession laws which are very different to those in the UK and if you own property it may not pass to who you intend it to without expert legal help. Many countries including France and Germany have a forced heirship' law which means that regardless of the terms of your Will certain categories of relations are automatically entitled to a certain proportion of the estate. Furthermore, there can be significant tax penalties if you leave assets to someone who is not a family member.

You may find yourself as an executor of an estate where foreign property is an issue. How probate is handled and how the property is dealt with depends on whether there is only an English Will or whether there is a foreign one. This is a complicated area of law and you should take expert legal advice from within the country that the property is held and in the UK to minimise the risk of problems.

If you need assistance with Probate services or making a will have a look online at the services that are available.

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