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Topic: writing a will -- in both the US and UK??  (Read 1217 times)

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writing a will -- in both the US and UK??
« on: June 15, 2015, 03:30:03 PM »
Hi,
I want to get a will in place, as I've never written one before and, well, everyone should have one!

My main home is in the UK (I have ILR now  :)) so my physical property is all in the UK. But I also have some non-physical assets in the US, like an IRA. So I'm totally confused about how to do a will.  ???

Should I do one in the UK for UK assets, and one in the US for US assets?

I'm a US citizen, by the way, but am here in the UK for the long haul. I really don't see going back to the US.

Thanks for any ideas on this.

« Last Edit: June 15, 2015, 03:52:30 PM by linlin »


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Re: writing a will -- in both the US and UK??
« Reply #1 on: July 20, 2015, 09:47:15 PM »
We have drawn up a will using a solicitor here in the UK.

We have also been working to arrange all of our US-based assets into a revocable living trust.

The long and the short of it: each country has its own laws that govern how an estate is handled upon the death of a person. It is best to have a legal document that conforms to laws in each location to have a minimum of ambiguity.

If you can afford it, hire someone.

If you can't, for sure there are do-it-yourself sites for the US. I suspect there is stuff like that here in the UK, too, but the will was not that expensive. Around £150.
Peter


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Re: writing a will -- in both the US and UK??
« Reply #2 on: December 17, 2015, 08:25:31 PM »
Settling money into a US revocable living trust could create an immediate charge to UK IHT, so should only be done with UK legal advice.


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