There is no end of legalities and paperwork when purchasing a property. But for anyone newly starting their search for a property overseas, another aspect of this paper trail you should consider relates to inheritance – who will be given what in your will?

Article written by The Overseas Guides Company

While you may have settled the issue with your assets in the UK, it is not as simple as adding the address of your new overseas property to your existing will, as the inheritance and taxation laws of each country can differ quite significantly from those to which you are accustomed.

As those well researched on the matter will know, France in particular has some regulations quite divergent from those in the UK, whereby children are automatically provided for with a portion of your estate on your death, regardless of your own wishes. This can be particularly complicated if you and your current partner have children from a previous relationship, and can be an extra burden for the surviving partner in the aftermath of their loved one passing away.

Other countries, such as Australia, will more or less recognise your existing will, provided it is up to date and includes all of the assets you hold in that country.

Another factor to consider is which country you officially reside in. French laws are enforceable for all assets held globally (apart from foreign real estate) for all permanent French residents – meaning a UK will is virtually worthless.

The implementation, value and exemptions associated with inheritance tax also vary drastically between countries, and may become quite restrictive on your loved ones if they are not considered at the time your will is drawn up.

To ensure your wishes are adhered to, and that your grieving loved ones are not subject to additional stress, heartache and financial burden, it is a good idea to engage the services of a specialist lawyer familiar with inheritance rules in your new country at the time you purchase your overseas property.

For more details of property for sale abroad, visit the listings on Rightmove Overseas.

To learn more about making a success of your emigration, download the Overseas Guides Company’s free guide.

If you are emigrating, be sure to use a currency exchange specialist, such as Smart Currency Exchange, to transfer your pounds into your new local currency. Smart consistently offers better exchange rates than banks, saving you money, as well as a more efficient service. For more information on this, visit the Currency Zone, or download their free guide.