Building and protecting your vision of success extends beyond
your generation. Most people are familiar with the importance of
having a Will. But families are becoming increasingly
international, and when taking into consideration foreign
citizenship and investments, one sole Will drafted by lawyers in
their country of residence is often no longer enough.
When might a simple Will be deficient?
- You have assets in different
countries
- You have multiple residencies,
citizenships, or domiciles
- You married abroad
- You wish to leave assets to family or
friends overseas
Common problems and potential solutions
Estate tax
Mrs Tan and her entire family are residents in Singapore. She
owns one property in the US and one property in the Philippines.
She decides to leave the properties to her children under her Will.
Upon her death, the US and the Philippines would both impose estate
tax. Her children would be responsible for paying this tax and
