Can you have two wills in different countries?
If we ask you, can you have two wills in different countries? The simplest answer that can be given is, yes. A person can establish their patrimonial planning in different countries in which they have both assets and/or citizenship, something very common nowadays.
Things you should know about having two wills in different countries
Since the answer is positive, you can choose to have several testaments (each of them ruling the distribution of property in the country for which the will is executed). Therefore, it is very important to make clear in each of the testaments that any subsequent will in another country cannot replace the previous will.
This is done in many countries to prevent contradictory wills or multiple valid wills. A good lawyer can be of great help to protect against the possible risks that several testaments can have as well as to know the unexpected tax consequences.
Another option is to have a single will that can cover all assets exhaustively and translate it into several languages. In this case, reference must be made to the laws and relevant jurisdictions of each country and segregate the distribution of the assets depending on where they are located.
If you opt for a trust, you have to bear in mind that some jurisdictions do not recognize them in the same way as other countries, making taxation vary greatly from one country to another. In addition, depending on the countries, the trusts may have some risks, making it clear that these issues are truly sensitive.
Within this cross-border context, it is advisable to hire legal advisors specialized in estate planning in the corresponding countries of the client. In this way, the client will ensure that everything is done according to the Law and their wishes and does not carry unpleasant surprises.