Foreign estates

Boss talks with working employeesWith increasing inward investment into Scotland foreign nationals will hold assets in Scotland and in the event of a death it may be necessary to obtain the equivalent of Probate or Letters of Administration in Scotland. We are able to assist lawyers in foreign jurisdictions who are dealing with the estate of someone who has died domiciled abroad. While Inheritance Tax is a UK wide imposition, Scotland has its own system for appointing administrators of a Scottish estate.

A title may have been obtained in the jurisdiction of the deceased’s domicile, but it is necessary to apply for Confirmation in Scotland or (in a limited number of jurisdictions) to apply to the Scottish court to have the foreign grant “resealed” here.

The procedure will involve the following:-

  • Obtaining a valuation of all Scottish assets.
  • Determining and settling the UK Inheritance Tax due.
  • Making application to the Commissary Court for a Scottish grant.
  • Exhibiting Scottish grant to all asset holders.
  • Paying outstanding debts and liabilities.
  • Agree any UK income tax or capital gains tax payable during the executry.
  • Preparation of an executry account.
  • Transfer residue to foreign administrators.

Key Contact – Allan Nicolson

Allan is a member of STEP – the Society of Trust and Estate Practitioners

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