Why non-UK residents should consider making a UK-only Will

If you already have a Will in the country where you live or are a national of, you may think that everything is covered.  However, when it comes to your UK assets, having a separate UK Will can make a world of difference.  In fact, for non-UK residents who own UK property, creating a UK-only Will is something we strongly recommend.

A UK-only Will sits alongside your existing Will, dealing just with your UK property, investments, and/or bank accounts.  Think of it as giving your UK assets their own clear set of instructions as to where they should pass at your death.  The benefit is that both Wills (your non-UK Will and your new UK-only Will) can operate smoothly and independently when the time comes, without conflicting with each other.

It is important that such a new UK-only Will is put in place carefully so your UK Will doesn’t accidentally revoke your existing foreign Will.  That is why taking professional advice is essential, but that the peace of mind it provides is invaluable.

Whether you own a London flat, a country cottage, or UK investments, those assets are governed by UK law.  Without a UK Will in place, the UK’s intestacy rules may well step in.  These rules are rigid and often very different from what people would personally choose.

For example:

• Unmarried partners may receive nothing
• Spouses may unexpectedly have to share the estate with children
• Property can become difficult to sell if multiple beneficiaries must agree

A UK Will ensures that your wishes are followed, not the default legal rules.

Similarly, relying solely on a foreign Will to deal with UK assets can create complications.  The UK probate system may require translations, additional legal documents, or overseas court certificates, often resulting in delays and added cost.  Indeed it may well be that the probate process has to conclude in your home country before the UK probate process can even being, potentially leaving assets exposed and unmaintained.

A UK-only Will avoids these hurdles, allowing your UK executors to apply for a UK Grant of Probate quickly and easily, often in parallel with the probate process in your home country.  In many cases, this means your UK assets can be released to/used by your loved ones much sooner.

UK inheritance tax applies to UK assets, even if you do not live in the UK.  Having a UK Will allows you to structure your UK estate properly and take advantage of valuable UK tax reliefs that might otherwise be missed.

This can help:

• Reduce or eliminate unnecessary taxes
• Protect your UK property from being sold just to pay the tax bill
• Ensure that your estate is handled as efficiently as possible

A small step now that makes a big difference later

Creating a UK-only Will is a simple step that brings clarity, reduces stress, and protects your family from avoidable complications at an already difficult time.  For anyone who is a non-UK resident with property in the UK, it’s one of the most effective ways to ensure your wishes are respected and your assets are handled smoothly.

The Private Wealth team at Greenwoods would be delighted to guide you through the process and ensure the right Will is in place for your circumstances.