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International Mortgages

Wills, Trusts & Financial Planning for Expats

Kevin Sewell has formed an association with The Astra Group who have the expertise on Wills, Trusts and Financial Planning for expats. 

Wills are an area of financial planning which is often neglected or left to last as, for expats in particular, this can be quite complex. 

Financial Planners often neglect this area due to its complexity, and it is an area, which is not always easy to discuss with clients. There is a famous quote from Stephen Covey ‘Begin with the end in mind’. For all professionals this is one of the habits that good professionals should adhere to, so they can provide ‘best advice’ to clients. 

A basic Will between a couple or for a single person should normally be fairly straight forward and reasonable in terms of price and Astra advisers are happy to arrange this for clients. 

The Astra group and its financial practitioners have extensive experience in this area to help clients make sure they plan for all eventualities. For expats who buy property in a foreign country as an investment or a place to live, the need to find out whether a ‘Will’ in their home country would cover this asset is very important. 

Work now takes people to parts of the world where the laws with regard to inheritance tax and death can be far more complex than their home country. For example in most areas of the Middle East, where Sharia law is practised it can be very difficult to resolve ‘estate issues’ if a person who dies has assets in the Middle East. 

In Europe things are also complicated with each country having different laws relating to inheritance and also tax on death. In Spain many are not aware that a Spanish Will is required if you have Spanish assets. Spain also imposes inheritance tax on the death of the first spouse leaving the surviving spouse to often find a large amount of money for a tax they had not planned for. This is particular to Spain as most countries only charge this on the death of the second spouse. 

International Will Planning is an extremely complex area, which often requires extensive knowledge of the legal situation in many countries by the adviser. It is very unlikely that a Will in your home country will be sufficient to cover complex situations with clients perhaps in mixed marriages or owning assets in different jurisdictions. 

The Astra group, specialize in this area and are qualified to provide assistance with regard to Will Writing in multiple jurisdictions. We also use trusts and life insurance policies in trust, where appropriate, to reduce inheritance tax liability and also make sure that assets are passed on conveniently to relevant beneficiaries. 

For a initial free consultation as to how we can help 

Please Contact Us!