So you have decided to take that exciting step of moving abroad – the country has ben picked, your new home paid for and now you need to sort out your life in the UK before leaving. There are so many things that need to be completed, and sorting out a will should be on the high priority list. Here are some things to think about, before you take off.
Updating your Will
If you have already written a will, then now is the time to make those amendments. This is a major life change that needs to be taken into consideration, and if there have been marriages, and children who have been born since you wrote the will, then now is the best time to update it.
Considering UK Laws and International Laws
Now that you have property abroad, and possibly some assets left in the UK, then it is worth checking out the law with regards to your will and what will happen to your assets (at home and abroad), if something happens to you. Your UK estate will be covered in the will that you have legally produced in the UK, but what about your estate abroad? It might be that you have to write two wills covering both your UK and overseas estates. Each situation is different, so make sure you look into this before you leave. If you need assistance with regards to will queries, then disputingwills.co.uk can help with contesting a will.
When leaving the UK, you need to notify the HM Revenue & Customs, as there will be changes to your tax affairs. You might need to complete a tax return if you plan to keep any UK income or assets [such as property], after you have moved to your new country. Also if you plan to claim a UK state pension then you should consider paying voluntary National Insurance contributions whilst you are away.
These are just a few things on a list of many that need to be considered and completed before you leave. Although this can be a stressful process, if you sort out these details before you go, then you can settle into your new life without undue stress or worry.