If you have assets overseas, or you live or work outside Australia, it is worth thinking about how your will is going to be recognised in other countries. One option is an international will.
International wills and overseas assets
Australia’s participation in the Convention providing a Uniform Law on the Form of an International Will took effect on 10 March 2015. The convention provides a recognised form of will in the countries that have joined it. It deals with the form of the will only. It does not make inheritance, tax or probate rules the same across countries.
The list of participating countries changes over time, so rather than relying on an old list, check the current UNIDROIT status list or ask us to check it for you.
How an international will is made
The formalities are a little different from an ordinary Victorian will. In broad terms, the will-maker declares the document to be their will and signs it in the presence of two witnesses and an authorised person, such as an Australian legal practitioner or a notary public. The authorised person attaches a certificate confirming the formalities were followed. We will take you through each step if an international will suits you.
Overseas assets need joined-up advice
Many countries have forced heirship rules that require set shares of an estate to go to particular family members, and succession, tax and probate rules differ from place to place. You may need advice in each relevant country about ownership, succession rules and how the estate will be administered.
Having more than one will can also cause problems if a new will accidentally revokes another. Talk to us about your assets, where they are and any existing wills before deciding whether an international will or another coordinated arrangement is right for you.
Contact our wills and estates lawyers on (03) 9629 2211 or send us an enquiry.
This article provides general information about the law as described above. It is not advice on your circumstances. Laws, procedures and deadlines can change, so please get advice about your matter, particularly before signing documents or where a deadline may apply.
