Have you factored offshore assets into your estate planning?

Date: Jan 08, 2014

If you want to make sure your will doesn't result in estate disputes after your death, you should make sure it's both worded carefully and covers everything necessary.

One factor that many people forget about when putting together a will is their offshore assets. If you've ever lived or worked overseas, chances are you have assets located in a country or countries other than Australia.

The assets may be party to rules and regulations that do not exist in Australia and could potentially impact how and to whom you can distribute them.

The laws between states and territories in Australia itself can be quite different, too, so even possessing assets in multiple areas of our country may affect the process of estate planning.

A good way to cover all of your bases is to create multiple wills - for example, one that deals with your assets in Australia and another that focuses on your offshore assets.

An estate lawyer can offer you expert advice and support when it comes to estate planning, and help make sure your friends and family have no grounds to dispute a will or wills that you've put together.

For more information, contact our team at Craddock Murray Neumann today.