International probate with assets in England and USA

We acted on behalf of the executors and trustees to the will, for an estate including foreign assets and beneficiaries, valued over £6,000,000.

The estate included assets in both England and USA, and various will trusts created under the terms of the will. The type of assets held, and the ongoing trust arrangements presented specific challenges to the estate administration, and the level of advice required.

We were required to value both English and USA assets, including USA business interests and pension fund, to calculate the legacies payable, and distribution of the estate and will trusts. We consulted with UK and USA accountants, pension fund managers, and surveyors.

We prepared and filed the Inheritance Tax Account with the HMRC, with whom we were able to agree the tax position, and negotiate with the District Valuer as to the value of two properties forming part of the estate.

We advised the executors and trustees upon the estate administration, and thereafter on the transfer of property and assets into the will trusts, the tax treatment, registration requirements with the HMRC under the Trust Registration Scheme, and ongoing trust responsibilities.