Who Do You Choose to Benefit from Your Will?
Now every Expat must review their Wills to ensure that your Wishes are meet and your assets can be distributed as your wish in your Last Will & Testament. Consider Inheritance Tax, Savings Taxes and Property Title Deeds: to bring your needs in line with the new legislation.
ProACT Expatriate Tax Saving Expat Experts – Free Review
ProACT can also assist and offer Free Review and advice to Make a Will, provide updates or revisions as required. You may want to make gifts to avoid Inheritance Tax. Gift to Family, Gift to Trust.
This may just give you piece of mind, but also ensures that when someone dies, unforeseen problems, expense and inheritance taxes are avoided.
Contact Us for a Free Review. Contact Us Free Review !!
If you want to choose who benefits - make written changes to your Will.
Domicile Inheritance Tax - Gifts Make Simple
Domicile and Inheritance Tax
If you want to avoid 40% Inheritance tax in the UK, your choices need further consideration with the new EU legislation and a global move towards a statutory definition of Domicile.
If you write in a Will confirming your domicile as your home country then Inheritance Tax is assessed there. 0% inheritance tax applies in Cyprus if family inherit under Cyprus laws of succession.
A Cyprus centred approach could trigger a full Inheritance tax assessment of Worldwide assets on death. Meaning UK expats pay 40% tax on Cyprus Overseas Property Assets.
Wills Gift Your Assets After Death, Why Wait?
Sam Orgill ProACT Partnership Expatriate Advice looks at other ways to Protect Your Family Inheritance. www.proactpartnership.com
Change of EU Law impacts Expat Wills
The adoption of the new EU law impacted Cyprus law by removing the options previously available to settle your Will under your home country laws. You should review your Will to ensure that your Wishes are met and your assets can be distributed as you wish in your Last Will & Testament.
Cyprus Law of Succession
Now the EU is the controlling legislation which says that your estate must be settled in your country of Residence.
That is not the same as the country you are from. A legal definition of Domicile has been introduced in Cyprus. Your country of birth and of your parents is defined as your country of origin. Where you are From. You can change your Domicile.....
Changes to Wills, Property, Savings & Inheritance Taxes
Sam Orgill www.proactpartnership.com Summers over - time to review for Expats
Cyprus Moves and Changes
In July the tax law was changed. Then the government announced the changes. Later some of the changes (still proposals) will be enacted in September, after the holidays. This has caused some confusion and delay as the news crept out. All will become clear…..
This article addresses some of the implications and changes in hand for Expats living and working abroad or investing overseas in Cyprus Property and Business. There is also a big impact in tax saving for offshore investment and the real bonus of a new Inheritance Tax planning strategy with a statutory basis.
The objective of the changes are to attract new overseas investors in Cyprus Property and Business. Whether you are living and working abroad, retired or investing offshore, Expats should review their Wills, Property, Business and Inheritance Tax positions to take advantage of the new rules and tax savings.