How ‘international’ wills can be a useful tool for clients

Disputes can turn ugly if wishes are unclear, as evidenced by one particularly grisly showdown during a corporate meeting in Taipei. The Miramar murders were an alleged double murder and suicide that resulted in the death of three brothers who were members of a prominent Taipei family. Their father, the late tycoon Huang Jung-tu, had built up a large business empire estimated to be worth $3 billion (£2.2 billion, €2.4 billion), which included famous hotel and retail chain empire the Miramar Group.

Not all meetings to discuss inheritance end in murder. But many do end in dispute because there is no will or succession plan in place. For individuals with assets in other countries it is even more important to have a will, or more than one will. In some cases, it is appropriate to have one will covering worldwide assets. In others, it makes sense to have more than one will – an ‘international’ or ‘offshore’ will or wills.

Jonathan Colclough, Partner in our private wealth team, discusses this in an article for International Advisor.

The full article is available, here.