Beneficiaries who live abroad

 

 

The world is getting smaller so they say, and with the advent of the internet, Skype, mobile phones and social media, it certainly does seem to be that way.

With so many of us travelling and even choosing to live abroad or marry someone from a different part of the world, it is becoming common for beneficiaries of an estate to not only live in the UK, but absolutely anywhere across the globe.

The first thing you must note as an executor planning to distribute funds to an individual overseas is that you must, by law, carry out an international bankruptcy search on that individual.

Once you’ve been given the all clear, you’re advised to make a direct transfer from the deceased’s dedicated bank account, to the individual’s bank account or send a cheque by recorded delivery.  Be sure to keep records of this transaction so you can refer to them later, if necessary.

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