In case you have used a U.S revocable trust as part of your estate plan, and now live abroad, you should seek the help of a legal advisor as there could be negative effects.
Certain primary issues that may impact the use of a U.S will in a foreign country needs to be looked into, such as:-
- You must check if your U.S will is considered valid in a foreign country for purposes of admitting it to the probate equivalent.
- Also, whether the foreign country’s legal system recognize the same rights as the United States related to your ability to legally alienate property.
- It needs to be made sure if it is practical to use one U.S will to govern all of your property.
How can the validity of your U.S Will Abroad be recognized?
Generally, there are two international conventions on wills that would enable a foreign country to recognize your US will as valid. Together, these conventions cover nearly 70 countries. If you live in one of these countries, your U.S will may work abroad, subject to certain limitations. While if you live in one of The Hague Convention adopting countries, your U.S will could very well be valid in your country of residence.
Before consulting an attorney it can be helpful to prepare a list of goals, along with the questions. It can also be beneficial to address the following questions:-
- What kind of assets do you own and what is it’s value?
- Do you own real estate located in another state?
- Who will become the legal guardian of minor children and who will receive your estate assets when you die?
For further details, you may get in touch with Liz Durkin, a reputed Real Estate and Business Transaction Lawyer.
She has set up her own legal firm, The Durkin Firm, LLC.