MULTIJURISDICTIONAL VERSUS SITUS WILLS

​​Smart estate planning is required  in relation to  an estate where assets are located in multiple jurisdictions. A pivotal question facing a testator in this context is whether he or she should employ a multijurisdictional will or situs wills for passing on his heritage.  A multijurisdictional will is a testamentary document that deals with the disposition of a testator’s global assets.  Situs wills on the other hand are a collection of separate testamentary instruments governing the disposition of assets located in particular jurisdictions. Where a testator with assets in different jurisdictions opts for situs wills, he or she will also have a principal will, which will deal with all assets and issues not covered by the situs wills.

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ADVANTAGES OF USING PRINCIPAL WILL AND SITUS WILLS

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• Probate fees may be kept to a minimum  

This is because the probate fees will be calculated with reference to the value of the estate in the local jurisdiction rather than to the value of the worldwide estate.

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• A greater level of privacy and confidentiality is provided

If the estate is required to disclose information about the assets in the will passing though probate, the disclosure will be restricted to the assets in the local jurisdiction.

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• Greater precision and accuracy can be achieved in the drafting of will

If the will is drafted in the local language by local lawyers in compliance with the local rules and requirements, it will greatly reduce the scope for error and confusion. This will facilitate the smooth administration of the estate and the retitling of assets.

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• ​Concurrent administration of the different components of the testator’s estate will be achieved

Where there is a single multijurisdictional will, the different parts of the estate have to be administered sequentially as a resealing or ancillary probate process cannot take place until an original grant of probate is issued.  Even where a second original grant of probate is sought in the foreign jurisdiction, the probate court in that jurisdiction may require production of the original will, which will not be available where it is tied up in the probate process in the home jurisdiction.

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Whether a testator opts for a multijurisdictional will or a principal will with situs wills will depend on multiple factors.  Click on the county links below for guidance on estate planning in relation to assets held in these jurisdictions.

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