Do you own assets in other countries

Possible outcomes when a deceased owned / held assets in a country other than Ireland.

As is the answer to many legal questions, that depends! It depends on the type and the extent (amount) of property/assets they owned.

As a rule of thumb, the greater the value/amount of assets owned, the higher the likelihood of the need to extract a foreign Grant. In order to have these assets released to the deceased’s estate, it may be necessary to extract a foreign Grant authorising this. For example, if the deceased owned a small number of shares in a foreign company, that company may be willing to transfer these shares to the deceased’s estate upon production of a certified copy of the deceased’s death certificate and copy of the Irish Grant.

We would advise any of our clients who own foreign assets, in a particular country, that they should have two separate wills, an Irish Will which deals exclusively with their Irish assets, and a foreign Will which deals exclusively with their assets in that specific country. Most importantly, each of the Wills should reflect and acknowledge this fact, i.e. that it is dealing solely with the assets within its own jurisdiction.

One of the primary goals when drafting a will is to avoid ambiguity, which can give rise to potential conflict down the line following the death of the Testator. A properly drafted will by your solicitor can achieve this.

For more information, you should contact your solicitor.

Contact us if you need legal assistance in checking or drafting separate wills for each of your immovable properties owned in different countries.