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21/08/2008
'Imperative' that emigrants speak to a solicitor |
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Those considering purchasing a property abroad should ensure they draw up a will in the UK and the place they will be living to protect themselves and their investment.
That is according to financial advisors Calculis, who has said that hiring a solicitor is of paramount importance as laws may be different depending on which country a person is moving to.
Concern over different tax laws across Europe has led Alex Pegley, director of Calculis, to issue the advice.
He explained: "It is imperative you speak to a solicitor as soon as you get there and get yourself a will in the country you are living in and in the UK.
"The concept of intestacy may be different in certain countries so get a local will in place immediately."
Inheritance tax on foreign property is as high as 80 per cent in some nations. The current threshold for inheritance tax stands at £300,000. That figure is doubled for couples. |
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