Do You Own a Holiday Home Abroad? Here's Why It's Important to Review Your Will

Owning a holiday home overseas is a dream for many people. But while buying property abroad is exciting, it's also worth taking the time to consider how that property will pass to your loved ones in the future.

Many people assume that once they have made an English Will, everything is taken care of. In reality, owning property in another country can make matters more complicated, and a Will that works perfectly well in England and Wales may not have the same effect overseas.

Every Country Has Different Rules

When someone dies owning assets in more than one country, there are often two legal systems to consider. An English Will may be recognised as a valid document abroad, but that doesn't necessarily mean every part of it will work in the way you intended.

The law of the country where your holiday home is located may determine how those assets pass on your death. In other words, having a valid Will is only part of the picture. It's equally important to understand whether your wishes can actually take effect in the country where your assets are situated.

Could a Different Law Apply?

One of the key questions is which country's law will apply to your estate. The answer isn't always straightforward and depends on a number of factors, including where your assets are located and your personal circumstances.

This matters because different countries have very different succession laws. Unlike England and Wales, where we have the freedom to leave our assets to whomever we choose, many countries have so called ‘forced heirship’ rules. These give certain family members (typically children) an automatic right to inherit part of an estate, regardless of what a Will says.

Without careful planning, this can lead to outcomes that are very different from those you intended.

Do You Need Two Wills?

There isn't a one-size-fits-all answer. Some people are best served by a single Will covering all of their assets, while others may benefit from having a separate Will dealing specifically with their overseas property.

Having two Wills can sometimes make the administration of an estate simpler and more efficient. However, if they are not carefully drafted, one Will could accidentally revoke the other or create unnecessary complications.

The right approach depends on your individual circumstances, the country involved and your wider estate planning objectives.

Why Specialist Advice Makes a Difference

Cross-border estate planning is about much more than preparing a Will. It involves understanding how different legal systems interact, identifying potential issues before they arise and ensuring your estate planning works as a whole.

Taking advice early can help to:

• ensure your wishes are carried out as far as possible;
• reduce the risk of unexpected problems for your family;
• avoid unnecessary delays and costs; and
• give you confidence that your English estate planning and any overseas arrangements work together effectively.

Many of the issues with international estates only come to light after someone has died. By then, the options available to put things right can be much more limited.

How Battens Can Help

At Battens we can advise clients who own assets overseas or have family and financial interests in more than one country. Whether you've recently bought a holiday home abroad or have owned overseas property for many years, we can review your existing Will, identify any cross-border issues and advise on the most appropriate way to structure your estate planning.

A simple review now can provide valuable peace of mind and help ensure your estate planning reflects your wishes—both at home and abroad.

Get in touch with Raquel Ugalde, who has particular expertise in cross-border wills and multi-jurisdictional estates, and the Wills, Trusts, Probate and Estate Administration team by calling 0800 652 8373 or by emailing [email protected].