Is a parent's US will good for assets outside of the US?
My fathers has property and bank accounts in the Caribbean (Grenada and Cayman islands). He lives there but has some assets in the US. He created a will in the United States. Is it good for his overseas accounts as well?
He wants to be able to pass his foriegn assets on to his children. Does he need to create a new will in each country?
What is the easiest solution?
If he makes me a co-signator on his Bank accounts, will that create tax problems for me here in the us?
1 Answer from Attorneys
Re: Is a parent's US will good for assets outside of the US?
As long as the will which your father made in the U.S. was in conformance with the laws of
the local jurisdiction where it was made, it should be sufficient to cover all assets, no matter where they may be located, and, assuming that that is the case, there should be no need for you to become a signatory on all of your father's foreign account holdings.
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