A world divided by distance and time is a phenomenon of the past. As such, the possibilities available to estate planners are vast regarding the acquisition of property and wealth internationally. Estate planning is a powerful tool to construct a client’s wishes in such a manner that his/her estate devolves in a manner that is most beneficial to that which the client has chosen. However successful this is, international property and wealth are making it increasingly difficult for advisors in the administration of a deceased estate to provide advice that is consistent and clear.
Your South African will should govern your world-wide assets. However, there are complications, and these include the following:
A concurrent will/foreign will could aid in addressing the above-mentioned challenges. It would be advisable to have an advisor of that specific country assist you in drafting your will, and ensuring that all your ‘foreign’ assets are dealt with accordingly. This can result in your South African estate and your international estate being administered at the same time, and in the process saving time and costs.
Get in touch with us to discuss how we can help you with your challenges