Morr & Co Solicitors
The complexity of the issues relating to domicile has increased in recent years - It is important that you consult with legal advisers in both countries.
The complexity of the issues relating to domicile, Wills and estate planning, especially around the issue of taxation on assets, has increased in recent years. The global nature of business and career opportunities, and the relative ease with which people can now relocate, have resulted in a growing number of people owning assets located in more than one country.
Domicile legal advice
The private client team at Morr & Co Solicitors have experience of supporting clients with domicile questions or concerns, multi-jurisdictional estates and advising on the most appropriate scope for a Will where assets are held in other countries (including whether it would be prudent for a separate Will to be prepared in the country in question). Many of our team are full members of STEP – the Society of Trust and Estate Practitioners. We will guide you through the tax pitfalls and complexities associated with foreign Wills and related domicile issues, where appropriate, to ensure that your wishes are carried out effectively and in the most tax-efficient way.
The concept of ‘domicile’ is peculiar to England and Wales and has particular significance when it comes to inheritance tax and the passing of assets to beneficiaries in other jurisdictions. The law is complex in this area, and domicile should not be confused with the concept of ‘residence’ for tax purposes.
If you or someone in your family has assets outside England and Wales, it may be advisable to have a Will drawn up in the jurisdiction in which they are located. It is very important that you inform and consult with your legal advisers in both countries to avoid any conflict between the terms or application of the Wills and to ensure that one has not been revoked by the other. For example, a number of countries recognise the legal concept of ‘forced heirship’. This can override your Will and mean that certain individuals may automatically be entitled to an asset in your estate irrespective of your wishes.
Get in touch with our team if you would like to discuss any of these issues or you are unsure whether they affect you.