If a UK person dies owning assets in a foreign jurisdiction, particularly if those assets are properties, then there is a good chance that the tax and succession treatment of those assets will be governed by the law of the jurisdiction in which they are situated and not by UK law. The interaction between UK and foreign tax and succession laws is a complex area and advice is best sought at the point at which you first acquire an overseas asset.
Depending upon the circumstances, it may be prudent to make one Will under UK law to deal with your UK assets and a second Will under the law of the foreign jurisdiction to deal with your assets there. Care is needed in the preparation of these Wills to ensure that they do not conflict in their terms and work efficiently together from a tax perspective.
If a person dies in this situation without having made a foreign Will, then it may be necessary to ‘prove’ the UK Will in the foreign jurisdiction before the deceased's foreign assets may be dealt with by the UK executors.
We have experience of dealing with these issues and of working closely with lawyers in foreign jurisdictions in order to achieve the best global solutions for our clients.
Contact: Robert Smeath