A global economy meets global family.
It is now commonplace for individuals to invest in cross-border investments to gain exposure to international markets (real estate, shares, currency) in a bid to achieve diversification and to spread risk. The phenomena of cross-border investments goes hand in hand with an increasing number of ‘cross-border’ families where any one family can have family members residing in a multitude of different jurisdictions.
In this context, having an effective international estate plan becomes very important. Estate planning can involve a range of tools but as a minimum, an individual with an international profile should have an effective will or wills in place.
This is relevant not just for expatriates who settle here in Singapore, but also for Singaporeans with assets overseas. This article focuses on the key considerations for a British expatriate living in Singapore with assets in both the UK and Singapore.