In the past 50 years or so, people and capital have become more mobile and often, along with this new global citizenship, comes ownership of assets in foreign countries. South Africans with offshore assets should seek professional assistance to determine if they are exposed to a foreign tax and whether it would be prudent to draft a separate will for assets outside the country.
Question that often arise are:
1. Is it a problem if I only have one will in respect of my worldwide assets?
2. Are there any benefits to having a separate will in each country where I own assets?
3. Are there any concerns which I need to take into consideration when having separate wills?
Read the answers to these questions here.
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