Giambrone Reviews International Succession, Foreign Wills and Domicile Procedures

In recent years, many UK and Irish nationals, with the help of our experienced International Property and Immigration departments at Giambrone, have “run for the sun” and have bought property in Italy.

Owning an overseas holiday home in a sunny location has become a highlight and enjoyable luxury during a person’s lifetime.

According to the Office of National Statistics, 6.2 million Britons live abroad and own property there, drawing their pension from their new location. 

If you own assets outside of England and Wales, it is advisable to seek advice relating to the laws of succession and legal formalities in that country and it may be prudent to have a will drawn up in the jurisdiction in which these foreign assets are located.

If you have a Will in more than one country, it is very important that your lawyers in both countries are informed, as to avoid any conflict between the Wills and ensure that one will does not revoke the other..

Giambrone has an extensive experience in advising clients with international assets who require advice on inheritance matters to protect their worldwide assets. 

The concept of domicile is particular to England and Wales and has subsequent consequences for inheritance tax. According to English law, everyone has a ‘domicile of origin’. This cannot be changed unless a ‘domicile of choice’ is acquired. This would be a specific country now chosen as the permanent residence by a person that intends to remain there for the rest of their life. 

A person’s domicile status is relevant for Inheritance Tax purposes and there can be advantages if they are not domiciled in the UK. Giambrone can advise on how domicile status can be changed and how to maximise any advantages resulting from not being domiciled in the UK.

Whatever the circumstances, it is advisable to seek specialist legal advice if you think issues of foreign assets or cross border domicile may apply to you. Giambrone’s team of expert private client lawyers can guide you through the tax pitfalls and minefield associated with foreign wills to ensure an integrated approach to all your affairs.

For more information please contact us at +44 (0)20 7183 9482 , email us at clientservices@giambronelaw.com or click here