Legal Definitions - international will

An international will is a specific type of will designed to be recognized as legally valid in any country that has signed and ratified the Convention Providing a Uniform Law on the Form of an International Will, often referred to as the Washington Convention of 1973. Its primary purpose is to simplify estate planning for individuals who have assets, beneficiaries, or residency across multiple countries. By adhering to a standardized format and execution requirements, an international will aims to avoid the complexities and potential conflicts that can arise when a person's estate spans different legal jurisdictions, ensuring their final wishes are respected globally without the need for multiple, country-specific wills.

Here are some examples illustrating the application of an international will:

• Scenario: An Entrepreneur with Global Investments

  Imagine a successful entrepreneur who is a citizen of Germany but owns a significant portfolio of real estate in Portugal, has a thriving tech startup in Ireland, and maintains personal bank accounts in Switzerland. If this individual were to pass away, their estate could face complex legal challenges due to the differing inheritance laws and probate procedures in each country. By executing an international will, drafted according to the Washington Convention, this entrepreneur can create a single document that is recognized as valid in Germany, Portugal, Ireland, and Switzerland (assuming all are signatory countries). This streamlines the process for their heirs, ensuring their assets are distributed according to their wishes without needing separate legal proceedings in each nation.

• Scenario: An Expatriate Living Abroad

  Consider a retired Canadian citizen who has lived in Mexico for the past fifteen years, owning a home there and having established local bank accounts, while still maintaining pension funds and investments back in Canada. Without an international will, their family might face a lengthy and expensive process of validating a Canadian will in Mexico, or vice-versa, potentially requiring separate legal actions in both countries. If this individual creates an international will in Mexico, it would be recognized as valid in both Mexico and Canada (as both are parties to the Convention). This ensures a smoother and more efficient administration of their estate, regardless of where their assets are located or their citizenship.

• Scenario: A Family with Dual Citizenship and Cross-Border Assets

  Picture a family where the parents hold dual citizenship in the United States and Italy, and they own a vacation property in France, in addition to their primary residence in the U.S. They have children who live in different countries. To ensure their estate plan is clear and enforceable across these various jurisdictions, they opt to create an international will. This single will, properly executed, would be recognized in the U.S., Italy, and France (all being signatory nations), preventing potential disputes or the need for multiple probate processes. It provides a unified legal framework for the distribution of their assets, simplifying matters for their heirs who might also be spread across different countries.