# Will/Trust for expats in multiple countries?



## SonOfFrench (Sep 3, 2015)

For those expats with assets in multiple countries, what is your strategy for establishing a Will and/or Trust? Can anyone recommend a company/lawyer that specializes in US, UK, and Switzerland estate planning? What have other expats done? Establish a separate Will in each country or a "mother Will" that handles all of them? Thanks!


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## Bevdeforges (Nov 16, 2007)

To be honest, you pretty much have to create a will specific to the country that you are currently resident in. The general principle is that your estate will be settled according to the law of the country in which you are resident as of the date of your death. That said, there are some provisions in EU law (which probably don't apply in your situation) where you can invoke the inheritance law of your home land - at least as far as distribution of assets is concerned, though the tax rates will still be those of your country of residence at date of death. The one exception is that for real property (land and buildings) held by the decedent, those will be handled according to the estate law of the country in which the property is located.


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## 255 (Sep 8, 2018)

SonofFrench -- I agree with Bev., you should have a will (or a family trust with a "pour-over will,") in your country of residence.

I also try to adhere to Nelson Rockefeller's edict: "The secret to success is to own nothing, but control everything." I do not know what assets you have in the various countries, but you should try to minimize, or eliminate, probate, if at all possible. I control property via corporations/trusts that I am the President/or Trustee, but do not actually own the property personally. 

You can also use "Transfer on Death," (TOD) ownership on checking accounts or real property in many jurisdictions, to avoid probate. The ownership regime: "Joint Tenants with right of survivorship," is also viable, but this cedes control while you are still alive. On brokerage accounts, pensions, and life insurance, ensure your beneficiary designations are current. These will also pass outside of probate. My wife is in the insurance business and she/I have been party to numerous horror stories, where an ex-spouse from as long as two decades ago inherited life insurance, or a pension, because the decedent never changed their beneficiary forms! One wife, of over a decade, was left destitute, after her husband's passing, because of poor estate planning.

Trusts, in general, are an Anglo-Saxon construct, not established under Swiss law, although recognized since 2007. You can establish a trust in Switzerland by using the laws of either the US or UK, whatever is most beneficial.

You might also try to simplify your holdings to make processing your estate. I do not know about the UK, but your estate will be subject to filing an estate tax return in the US when you pass. Form 706 (Rev. August 2019) (irs.gov) 

I do not know of an attorney that specializes in UK/US/CH estate planning. In any event, my advice would be to do your own research and devise your own general plan before you enlist the services of an estate attorney to bounce ideas and to draw up whatever documents are necessary. Cheers, 255


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## Bevdeforges (Nov 16, 2007)

Just be careful about over dependence on tricky "anglo-saxon" constructs like "transfer on death" or "joint tenants with right of survivorship" and especially trusts. If the conventions don't exist in your country of residence they are probably not well understood and can cause huge problems when it comes time to process the estate. (Not all countries have "probate" as such.)

I would first find someone locally (in Switzerland if that's where you are currently resident) to explain what is and isn't possible based on your Swiss residence (particularly with regard to the notion of "incorporating" the laws or conventions of the countries where you hold your assets).


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## SonOfFrench (Sep 3, 2015)

Thank you for the responses 255 and Bev. Definitely in the process of simplifying my assets. Will be pretty straight forward but so far the quotes are pretty crazy... anywhere from 2-3k USD/CHF depending on some of the laywers I've spoken to all the way up to £10k! I am trying to find someone locally in Switzerland and will continue to pursue this. Interesting the approach is to have a will specific to the country resident in. Especially as our target is not to stay in CH, rather go back to US. And 90% of assets are US based. Was trying to see if there were any best practices the forum would recommend and/or any contacts who people would recommend


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## Bevdeforges (Nov 16, 2007)

The big problem with multiple wills is that the inheritance laws can vary greatly from one country to the next. And the international convention is that your estate is settled according to your country of residence at your date of death. (Plus that little matter of real property being handled under the laws of the country in which the property is located.) Of course in the US, the issue is complicated by the fact that it's your state of residence that determines what laws will be applied. (And those can vary quite a bit, too.)


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