Handling probate can be confusing, especially if the estate includes foreign assets like property or bank accounts in another country.
If you’re in Vail, Arizona, here’s an easy guide to help you understand how to manage these assets during probate.
1. List All the Foreign Assets
Begin by making a list of every asset located outside the U.S., such as:
- Real estate or land abroad
- Foreign bank accounts or investments
- Business shares or ownership in another country
This helps you stay organized and ensures no asset is missed.
2. Learn About Local Laws in That Country
Each country has its own inheritance and probate laws.
You might need a local lawyer to help transfer ownership, sell property, or release funds properly.
3. Check Tax Obligations
Foreign assets may be subject to taxes both in the U.S. and where they’re located.
It’s best to work with a tax professional who understands international estate tax laws to avoid any problems.
4. Manage or Transfer the Assets
After completing the legal and tax requirements, you can:
- Transfer ownership to heirs
- Sell the assets and convert them into cash
- Keep or reinvest them, depending on the laws of the other country
5. Work With Local Experts in Vail
If the estate also includes real estate in Vail, having a local Realtor who understands probate sales can make the process much smoother.
Talk to a Vail Probate Real Estate Expert
Ryan Comstock, a trusted Realtor with eXp Realty, helps families in Vail handle inherited and probate properties with care and professionalism.
He can guide you through every step of the process.
📞 Phone: 520-261-4669
📧 Email: ryancomstock@ryancomstock.com
🌐 Website: www.ryancomstock.com