About Us Wilfred T Fry - Founder

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2 About Us Wilfred T Fry - Founder

3 What We Do Executor & Trustee Services YOU Wealth & Pension Planning Taxation Services

4 Drafting a Will and the Role of an Executor

5 Why do I Need a Will? To ensure your assets pass to those you want to benefit Avoid Intestacy Rules Appoint guardians for your children Protect vulnerable beneficiaries Reduce the impact of Inheritance Tax

6 Which Law Applies? Depends on Domicile:- a) Domicile of origin b) Domicile of choice Overseas Realty:- a) Local law b) EU Succession Regulation

7 What to Include 1. Confirmation of applicable law:- a) Worldwide or restricted to certain countries? Care federal states! b) Consider choice of law under the EU Succession Regulation?

8 What to Include 2. Executors:- a) How many? b) Layperson v Professional

9 What to Include 3. Funeral Wishes:- a) Cremation or burial? b) Scattering of ashes/burial site c) Body donation/medical research d) Choice of service (if any) type of religion, humanist funeral, those to attend e) Flowers or charitable donations?

10 What to Include 4. Guardians to minor children:- a) Who to choose b) Temporary guardians in overseas country? c) Substitute guardians d) Guidance to guardians e) Financial considerations

11 What to Include 6. Specific Legacies:- a) Itemise in Will b) Leave to executors to distribute in accordance with letter

12 What to Include 7. Money (Pecuniary) Legacies:- a) How much? b) Family, friends, charities? c) Currency - usually Sterling but may depend upon beneficiary d) Index linking?

13 What to Include 8. Residuary Beneficiaries:- a) Absolute or trust fund? b) Minor beneficiaries age to inherit? c) Charities? d) In what proportions?

14 What to Include 9. Fallback Beneficiaries:- a) To cover a common accident b) Commonly siblings or nephews/nieces c) Danger of different beneficiaries for Wills of married couples d) Issue of fallback beneficiary to inherit? e) Charity?

15 What to Include 10. Administrative provisions:- a) STEP Provisions b) Declaration re Mutual Wills

16 Role of an Executor

17 Who can be an Executor? Family Friends Professionals

18 Duties of an Executor Registering the death and arranging the funeral Identify assets including any overseas, advise institutions and obtain values at the date of death Identify debts and liabilities

19 Duties of an Executor Complete relevant Inheritance Tax Return and pay liability:- IHT205 or IHT400? Domicile of deceased Claim exemptions and reliefs

20 Duties of an Executor Apply for the UK Grant of Probate Consider application for foreign Grants of Probate and consider foreign succession tax Collect in assets

21 Duties of an Executor Settle outstanding debts/liabilities/pay legacies and complete final administration Income Tax Return Distribute residue in accordance with the Will/consider transfer of assets Executorship accounts to beneficiaries

22 Attributes of an Executor Trustworthy and able to make decisions neutrally and not influenced by emotion Organised/good at paperwork and dealing with organisations Has sufficient time and drive

23 Advantages of Appointing a Professional Time factor Impartiality Longevity

24 Advantages of Appointing a Professional Complexity/complications eg Inheritance Tax Returns, foreign aspects Specialist legal and tax knowledge eg deeds of variation, tax reliefs, domicile claims, tax treaties

25 Frys Will and Executorship Service Draft Wills under English law Liaise with overseas lawyers Full executorship service can act in a sole capacity or jointly with family or friends Trustee service UK Lasting Powers of Attorney

26 We Can Help Tailored Personal Integrity Experience TAX WEALTH ESTATES 1. Particular expertise in advising expatriates 2. Tax/Filing obligations 3. Tax Planning/Opportunity spotting 4. Tax efficient investment planning 5. Fully Independent 6. Permanent and full-time presence UK/Overseas 7. Will writing/custody 8. Executorship services experience with foreign assets 9. Use of trusts where appropriate 10. Powers of Attorney

27 The Fry Group of companies comprises of Wilfred T. Fry Ltd Taxation Consultants, Wilfred T. Fry (Executor and Trustee) Ltd, The Fry Group (H.K.) Ltd, The Fry Group (Singapore) Pte Ltd, The Fry Group (Belgium) SA, and Wilfred T. Fry (Personal Financial Planning) Ltd. The last company is authorised and regulated in the UK by the Financial Conduct Authority (FCA number ) and is also passported under EU regulations. The Fry Group (H.K.) Ltd is licensed to conduct investment advisory business in Hong Kong by the Securities & Futures Commission (SFC; CE Number: ATY965) and is a member of the Hong Kong Confederation of Insurance Brokers (HKCIB; Membership Number: 0444). The Fry Group (Singapore) Pte Ltd is authorised to act as a financial adviser by the Monetary Authority of Singapore - licence number FA The Fry Group (Belgium) SA is regulated in Belgium by the FSMA (Reg. No A-B) and is also passported under IMD EU regulations. Tax treatment depends on the individual circumstances of each client. All levels and basis of, and relief from taxation illustrated here are subject to change without notice.

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