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Tuesday, March 20, 2012
Inheriting money from abroad is a pain. It should be easier
WHEN Susan’s cousin died intestate in 2009, his 20-odd heirs were scattered in two countries and his property was spread across three. His death kicked off a lumbering international inheritance procedure. “We thought it would take a year,” Susan says (choosing to stay anonymous while the lawyers are still at work). It will probably last three.Dealing with the belongings of the dead is a grim job, but trickiest when they cross borders. Two or more jurisdictions may claim the right to share out an estate (or all may deny responsibility for it). When a legatee lives in a third country it is harder still. “It’s like three dimensional chess,” says Richard Frimston, a lawyer. Read more... posted by Charles Monat Associates at 9:48 AM
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