Overview
Foreign assets may be subject to different inheritance laws, longer administration timelines, higher legal costs, and possible tax exposure.
Foreign assets need separate attention
A Malaysian with foreign assets may have a local Will but no estate planning instrument in the foreign country. Upon death, those assets may be administered under local laws there.
The process can take much longer and cost more than local administration. Offshore assets may also face inheritance, wealth, or capital gains tax depending on jurisdiction.
Planning approach
With proper advice, suitable offshore estate planning structures can be considered. Associate service providers may assist with the relevant jurisdiction-specific arrangements.
Next step
The right structure depends on family relationships, assets, liabilities, nominees, beneficiaries, and business interests. A consultation helps confirm which document or trust arrangement is suitable.