A will in each jurisdiction
An alternative for an individual with assets in two jurisdictions would be to have a will in each jurisdiction. Provided care is taken to ensure that the wills do not revoke or contradict each other, doing so would save their executors time and expense.
Individuals who have completed LPAs should also take advice in the country to which they move on the applicability of these documents in that country.
LPAs are documents that are produced by English courts and consequently a foreign bank or healthcare professional is unlikely to rely on the documents without their local courts affirming their enforceability.
It might be quicker and less expensive to put in place the equivalent of an LPA in the new jurisdiction to allow trusted individuals to take decisions on behalf of someone who is no longer able to take decisions for themselves.
Clearly, when it comes to leaving the UK, there is more to consider than making sure the sun cream and sunglasses have been packed. HMRC may reach further and longer than emigrants have anticipated, and existing Wills or LPAs may need to be reviewed.
It is advisable that these matters are taken into consideration as part of the generally planning undertaken before packing up for pastures new.
Guy Sterling is a tax Partner at Moore Kingston Smith
