Planning for an International Estate: Why You Should Consider Multiple Wills for Assets in Different Countries 

Streamline Cross-Border Estate Planning with Separate Wills for Each Jurisdiction

For individuals with assets spread across multiple countries, estate planning can become a complex process, especially when considering how different jurisdictions handle wills and probate. If this situation applies to you or your clients, it may be beneficial to consider drafting separate wills for each jurisdiction where substantial assets are located. 

Here’s why this approach can offer distinct advantages and help ensure a smoother process for your heirs: 

1. Faster Probate Process 

Probate procedures differ significantly from country to country. When assets are covered by a single will, especially one that spans multiple jurisdictions, the probate process can face delays. This is often due to the need to coordinate between varying legal systems and potentially to translate and legalize documents for each jurisdiction. 

The probate processes can be conducted simultaneously by drafting separate wills for each country. This not only reduces the time it takes to distribute assets but also provides beneficiaries with quicker access to their inheritance. 

2. Ensuring Legal Compliance Across Borders 

Each country has its own legal standards regarding the format and execution of wills. A will created under the laws of one country may not be recognized in another, resulting in delays or challenges to the will’s validity. Separate wills ensure that each document complies with the relevant jurisdiction’s legal requirements, making the process smoother and more secure. 

3. Improved Tax Efficiency 

Estate taxes, inheritance taxes, and other fees can vary widely depending on the country where the assets are located. A locally prepared will can address tax planning strategies specific to each jurisdiction, potentially reducing the tax burden on your estate and beneficiaries. 

With the help of local legal advisors, separate wills for each country can take into account the local tax laws and make use of exemptions or deductions that might otherwise be missed with a single will. 

4. Clarity and Specificity in Asset Distribution 

When a will covers multiple jurisdictions, it can sometimes lead to ambiguity about which assets are governed by which provisions. Separate wills allow you to tailor your instructions to the specific assets in each country, making it easier for your executor to understand and carry out your wishes according to local laws. 

This clarity also minimizes the risk of misinterpretation, ensuring that each jurisdiction handles your estate in line with your intentions. 

5. Minimizing Conflicts Between Jurisdictions 

Multiple wills help mitigate conflicts that can arise from different legal systems. Each will should make clear that it applies only to assets within a specific jurisdiction, helping prevent one will from inadvertently revoking another. However, it’s crucial that each will references the others and states explicitly that it does not supersede them. 

Important Considerations 

For those with international assets, it’s essential to work with qualified legal professionals in each country where assets are held. This ensures each will is properly drafted and legally sound. Additionally, care must be taken to avoid any conflicts between the wills themselves, so they work together seamlessly to distribute your global estate. 

With the right planning, creating multiple wills can be an effective way to protect your assets, simplify the probate process, and ultimately provide peace of mind for you and your beneficiaries. If you’re managing a cross-border estate, consider consulting with a legal expert to explore whether multiple wills might be the right approach for your situation. 

Our team at FRANK Legal & Tax is experienced in estate planning for international clients and can provide guidance tailored to your unique needs. Reach out to us to discuss how we can help you develop a comprehensive and effective estate plan that addresses assets in multiple countries.