You’ve been thinking about that vacation home in Florida for years, away from the frigid cold of the Canadian winter. Finally, you pulled the trigger and bought it. As you relax on the beach sipping on a margarita, the last thing on your mind may be estate planning.

While you want to take that deserved break and enjoy your new home, estate planning for foreign real estate can be complex. Even if you already have a will, it may not appropriately address real estate assets that you own abroad.

The reasons for owning property abroad can be varied, from investment to vacation home, but irrespective of the purpose of the property, additional estate planning is advisable. This can be  applicable even for properties owned in other provinces within Canada.

A common solution, and perhaps the simplest in many cases, is to have more than one will. One should seek the advice and services of a lawyer familiar with each jurisdiction where one owns property, to draft separate wills that are compliant with the local laws and regulations. Having a valid will in each jurisdiction where a property is located can help avoid significant cost and time.

Interprovincially within Canada, it can be necessary to reseal a will in a Province  other than the one it was probated in, should you wish to enforce its terms against property located in the secondary jurisdiction. The aforementioned solution of preparing a  will in each jurisdiction can avoid this issue and may be simpler in some circumstances than seeking to have a will resealed. This approach is not flawless, as it adds an additional document to be kept safe and separate probate applications will still be necessary for each will in its respective jurisdiction.

Alternatively, international wills can be another solution, but it should be kept in mind that their applicability is limited to countries that have signed  to the Convention Providing a Uniform Law on the Form of an International Will. It should also be noted, international wills have their own distinct formal requirements.

The legal and tax implications for planning international estates are complex, and can vary for each estate. It is always advised  to consult professionals in each applicable jurisdiction to find the best solutions.

Thank you for reading and have a great day!

Raphael Leitz