Inheritance management in cases where foreigners are the heirs
Inheritance management is an important process in transferring the assets of the deceased to the heirs or legal heirs. However, in the case of a foreigner, it becomes more complicated because the laws of both the country of the deceased’s nationality and the country where the assets are located must be considered. This article will discuss the principles and guidelines for managing inheritance in the case of a foreigner. Important factors to consider Inheritance management for foreigners has many factors to consider, including: Inheritance management process Inheritance management can be carried out in the following steps: 1. Checking the will 2. In the case of no will 3. Inheritance division and transfer of ownership Problems that may arise During the inheritance management process, there may be many problems and obstacles, such as: Problems Details Conflicts of law There may be differences between the laws of the country of origin and the country where the assets are located. Restrictions on the right to own assets Some countries restrict the rights of foreigners to own assets Documents and certifications The documents used must be translated and certified by the embassy or relevant agency. Inheritance tax and fees There may be different tax and fee burdens, which affect the amount of assets the heirs receive. Guidelines to reduce complexity In order for the inheritance management process to go smoothly, the following should be done: Inheritance management for foreigners is more complicated than in general, because the laws of many countries must be considered. Preparing in advance and receiving proper legal advice will help the process be efficient and reduce legal problems that may arise. Written by Mr. Pratthakon…