foreign jurisdiction
Having a foreign executor appointed in a foreign will means that your local estate can be finalised without delays caused by obtaining recognition in a foreign jurisdiction. Further, a foreign will dealing with offshore assets will address specific requirements of
Probate is a procedure whereby your South African-drafted Will is approved by the foreign legal authority as valid so that your foreign assets can be administered, although keep in mind that obtaining a probate order may delay the winding up
The due diligence procedures applied by financial institutions will generally be sufficient to identify the account holders and controlling persons. For example, a bank that opens a bank account for a trust with foreign beneficiaries could be expected to request
A Rand-based offshore investment is the simpler of the two options as you do not need to convert your money into another currency. By investing through a local, reputable LISP platform which has a mandate to invest in foreign assets,
Probate is a procedure whereby your South African-drafted Will is approved by the foreign legal authority as valid so that your foreign assets can be administered in that jurisdiction. It involves obtaining the necessary court authority in the foreign country
If you own assets in a foreign civil law jurisdiction, it is important to understand whether you will be affected by mandatory succession rights in respect of your estate planning. Forced heirship can complicate inheritance especially where you have assets
