Expat Wills
Why is it important as an Expat to have a Will?
Did you know that if you have an 'immoveable asset' such as property or land which you hold outside the UK, then you need a will in that country? Dying intestate – without a will – abroad can cause a number of serious issues which can be hugely time consuming and expensive to resolve.
As an example, in Thailand all of your assets will be divided according to Thai law. Half of the estate would go to your partner and the other half would be passed on in a strict order: your children will inherit first, then your parents, then siblings, grandparents and aunts or uncles. But can your partner live on half of the estate, and what about if your children are too young to manage that level of inheritance?
Many expats own property in Thailand through a business which is in their name, but without a Will, all of these assets would be passed on as shares in the company rather than the property itself.
If you lease your home or business property, the agreement is a personal one so on your death it would be revoked regardless of how much had been paid up-front, leaving your beneficiaries the headache and costs of setting up a new lease.
These are just a few of the issues that can crop up if you die as an Expat with assets. Dealing with these issues in a foreign language can magnify the problems. At Expat Wills (a sister company to NLSS Shropshire) we have developed a great depth of experience in preparing wills and planning the estates of Expatriates living in Thailand, Spain and across mainland Europe. We only use highly trained interpreters who are also relied on by the courts, police and British Consul. Your Will is written in English, Thai - or appropriate European language - and your mother tongue and is verified by our translators to make sure that nothing is lost in translation.
It makes sense to make sure that following your dream abroad won't turn into a nightmare for your loved ones if something happens to you.