Non-resident settlor
Our clients are both non-UK domiciled and will remain non-UK domiciled under the new rules effective from April 2025.
Currently they own their main residence valued at £1 200 000 with no outstanding mortgage. They intend to sell this property and relocate to South Africa permanently.
Furthermore they plan to allocate £650 000 into a UK discretionary trust for the benefit of their children and grandchildren. The remaining £550 000 will be invested in shares within the UK.
In addition they own a property in South Africa valued at £400 000 which will serve as their main residence upon their return to South Africa.
They intend to gift this property to their children upon the second death. On the first death they will leave their respective shares of the estate to one another.
My question is as follows: will the executors in the...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
