Multiple homes, who will accept your Power of Attorneys?

Multiple homes, who will accept your Power of Attorneys?

Multiple homes, who will accept your Power of Attorneys?

by | Inheritance

As people are living longer, the question of capacity in later life is becoming a bigger issue.  Failing age and mental health can unfortunately result in loved ones losing the ability to make important decisions.

If you have been fortunate enough to enjoy living in several countries throughout your life you may have acquired assets in some or all of them.  If you have been wise in your planning, your will addressing this should already be in place (contact us now if it isn’t).  You may also have thought ahead and put a Power of Attorney in place in your intended country of retirement.  But what if it is not recognised anywhere else?

For international individuals, an international estate plan is a necessity.  But as cross-jurisdictional law starts being tested, you may need to adopt the same approach with Power of Attorney.

The Hague Convention of 13 January 2000 on the International Protection of Adults (Hague 35) provides for recognition of the EPAs of other convention countries.  However, only 16 signatories have joined the convention.  So far they are all European.  Not all of them have ratified the convention into their own law including England and Wales.

Scotland have ratified the law and the complexity of the issue was highlighted in a recent case in Hong Kong.   An elderly husband travelled with his wife to Scotland for her to receive medical treatment. Whilst there he executed an EPA with a Scottish lawyer.  When they returned to Hong Kong and tried to register the EPA, the Hong Kong Registrar refused because the witnesses did not meet Hong Kong qualification regulation.  By this time, it was too late for the husband to execute an EPA in Hong Kong due to his diminished capacity.  Had they travelled in the opposite direction, this unfortunate case may not have happened.

Therefore, the recommendation for international clients is to treat your Power of Attorney planning in parallel with your estate planning.  Consider the location of your assets and ensure that your adviser consults local specialists to build a chain of wills and power of attorney that wont leave your loved ones and yourself uncared for.

An Introduction to International Estate Planning product image

An Introduction to International Estate Planning

$15.99 $8.99

Testimonials

"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK...

Jenny Pearson, Consultant, Cambodia

2018-06-05T07:59:04+00:00

Jenny Pearson, Consultant, Cambodia

"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK tax specialist) to keep my English and Cambodian assets completely separate. Cindy was able to work through all of that with me and I am confident that I now have everything properly covered."
"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and...

Jayne Hilton, Engineer, UK

2018-06-05T08:30:28+00:00

Jayne Hilton, Engineer, UK

"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and was always on hand to offer guidance and support. All in all an excellent service."
"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a...

Jim Swander, CEO, Cambodia

2018-06-05T08:37:50+00:00

Jim Swander, CEO, Cambodia

"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a project we all can easily put off, it removed an area of stress in my life. I no longer had to wonder if certain people would be taken care of, or where my money would go. Cindy and I worked through the process and she asked a lot of thought provoking questions. The first draft helped me think a second layer down, and made the will more complete. We finalised with her lawyer, signed, witnessed and put away in a safe place, letting my executor know exactly where to find it. I do not hesitate to recommend Cindy’s services."
"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid...

Moray Iles, Vietnam

2018-06-05T08:42:23+00:00

Moray Iles, Vietnam

"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid putting pressure or hassle to complete the Will quickly which allowed us to consider everything in our own time. Best of all, Cindy's professional support and thorough and clear explanation of the laws pertaining to our situation were very helpful. We would look forward to working with Cindy again on documents personal to our family."
Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

Please check your email to confirm your subscription.

Pin It on Pinterest

Shares
Share This