UK wills for expats in Asia

UK wills for expats in Asia

Asia is becoming an increasingly attractive location for many Brits to live and retire.  With a better climate, international standard schools and medical care and a huge range of opportunities, countries such as Thailand are seeing an influx of migrants from the UK.  But whilst enjoying the sunshine and decreased cost of living, you still need to plan your legacy and consider your Inheritance Tax liability.

Some expatriates sever all ties, leave no assets and have no intention of returning to their original nation. For expatriates who leave the UK and obtain a new domicile, UK inheritance liability disappears on all but UK assets. It can be relatively easy to convert UK assets into non-UK assets and minimise UK inheritance tax on those as well.  It is imperative to have a separate UK law compliant will that deals only with these UK assets.

But even expats who own no UK assets may still face an inheritance tax claim on their estates. Tax treaties and other international agreements contain clauses under which foreign governments are duty bound to help collect tax.  Your death abroad will be reported to the UK authorities and this may trigger an investigation into your international estate and your UK tax liability. Making your main will under the law of your country of residence will aid any case you make for domicile outside your country of birth and can be used as evidence in case of double-taxation issues.

If you and your spouse or civil partner do not share the same domicile the amount of an estate which can be passed between spouses tax-free depending on whether the partners concerned are domiciled in the UK or not, and whether they are married or unmarried, is determined by Her Majesty’s Revenue & Customs (HMRC).

Inheritance tax has been described as a tax on people who fail to plan their estate tax efficiently. With careful planning and independent advice, it is possible to legally avoid a significant amount of inheritance tax in the UK. Multi-jurisdictional estates are by their very nature complex and professional advice should be obtained in all relevant countries to ensure smooth and tax efficient succession planning.  Contact Wills World Wide today to see how we can assist.

 

 

 

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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."
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