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tonyb60 Mega user
Posts : 2150 Join date : 2010-02-18
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 3:13 pm | |
| Hi Emil welcome and thank you for joining this forum. We welcome your help and support We (my wife and I) have already made a Will with an authorised translator after getting the Bulgarian set format translated. I take it that providing you have no other claimants that all the property goes to the named person in the will. Then the family members can claim unless you have specified otherwise. This would also be backed up by EU law? Thank you Tony |
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starlite Mega user
Posts : 1784 Join date : 2009-10-11
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 3:16 pm | |
| thankyou. who has access to the departed bank accounts, i understand they are froze immediately and enforced inheritency law is applied. again many thanks. |
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Trifonov Registered user
Posts : 11 Join date : 2010-12-11
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 3:32 pm | |
| - tonyb60 wrote:
- We (my wife and I) have already made a Will with an authorised translator after getting the Bulgarian set format translated.
Please note that there is no such thing as set format. Actually there are some important rules that are to be followed. A handwritten will should be in English and then translated into Bulgarian. If you are talking about a Notary will - then a translator could be appointed by the Notary public (just like at any Notary completion). - tonyb60 wrote:
- providing you have no other claimants that all the property goes to the named person in the will. Then the family members can claim unless you have specified otherwise. This would also be backed up by EU law?
Yes, the property can go to all persons in the will. Then family members (or actually anyone who has reserved portion) could make an official claim (i.e. take you to court). This is how things look in Bulgaria - EU laws have no direct impact. |
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Trifonov Registered user
Posts : 11 Join date : 2010-12-11
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 3:35 pm | |
| - starlite wrote:
- thankyou. who has access to the departed bank accounts, i understand they are froze immediately and enforced inheritency law is applied. again many thanks.
They could get frozen if someone goes to the bank with a set of documents. Otherwise the bank accounts could still be operated (e.g. by an authorised person) - because banks don't get automatically notified if a client of theirs passes away. |
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starlite Mega user
Posts : 1784 Join date : 2009-10-11
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 4:19 pm | |
| I am not married to my partner, if he leaves the property to me in his will. am i liable to inheritence tax. many thanks Emil, |
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Trifonov Registered user
Posts : 11 Join date : 2010-12-11
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 5:31 pm | |
| - starlite wrote:
- I am not married to my partner, if he leaves the property to me in his will. am i liable to inheritence tax.
Yes, you are, I am afraid. Civil partership is a brand new institute to Bulgarian law and it will take some time until it is fully incorporated in Bulgarian legislation. |
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willowsend Mega user
Posts : 2271 Join date : 2009-11-10 Age : 84 Location : Dobrich
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 6:25 pm | |
| - Trifonov Law Offices wrote:
- starlite wrote:
- I am not married to my partner, if he leaves the property to me in his will. am i liable to inheritence tax.
Yes, you are, I am afraid. Civil partership is a brand new institute to Bulgarian law and it will take some time until it is fully incorporated in Bulgarian legislation. Sorry to be negative, but if it takes as long to fully incorporate this new law, as it has done some of the old law's, then we could be in for a long wait What is the rate of IHT |
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tonyb60 Mega user
Posts : 2150 Join date : 2010-02-18
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 6:30 pm | |
| What is the rate of IHTBad boy Bryan no Three Letter Abbreviations please. Can you expand as not all of us know what this might mean |
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scott Super user
Posts : 1053 Join date : 2009-10-30
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willowsend Mega user
Posts : 2271 Join date : 2009-11-10 Age : 84 Location : Dobrich
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 6:48 pm | |
| - tonyb60 wrote:
- What is the rate of IHT
Bad boy Bryan no Three Letter Abbreviations please. Can you expand as not all of us know what this might mean :Howdy:Sorry Tony, I did forget you are in BG (Bulgaria, I've done it again) you see in Britain you will see IHT referred to by Lawyers, Government departments, Banks, Building Societies, Newspapers etc, even on a Google search, but I promise I won't be a bad boy again, I will write Inheritance Tax next time |
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tonyb60 Mega user
Posts : 2150 Join date : 2010-02-18
| Subject: Re: Overseas residents bank at home and discuss wills Mon Dec 13, 2010 7:48 pm | |
| Three Letter Abbreviations (TLA's) have been banned in most Commerce and Industrial documentation for a long. long while. They are permitted if you do this in a document:- IHT (Inheritance Tax) then you can put IHT as many times as you like. Trouble is so many people lapse into TLA's thinking that they are clever or that they think that everybody knows what they are on about. I banned them in my little world may years ago, rather I should say my boss at the time did. He used to say that at least when someone read one of our documents there would be no confusion and to be honest I quite agree. Sorry if I'm an old fuss pot, but that is me. Ask Ashley I moan at him as well :roll: |
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Admin Administrator
Posts : 6136 Join date : 2009-08-15
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starlite Mega user
Posts : 1784 Join date : 2009-10-11
| Subject: Re: Overseas residents bank at home and discuss wills Tue Dec 14, 2010 5:08 am | |
| Emil, if you reside in bulgaria, are my uk assests protected by my uk will. |
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itchyfeet Mega user
Posts : 2268 Join date : 2010-09-10 Age : 68 Location : Paskalevets
| Subject: Re: Overseas residents bank at home and discuss wills Tue Dec 14, 2010 1:10 pm | |
| Looking at all the replies to this excellent post it would appear that some definitive information was made available somewhere in BG so that Brits know where they stand. I say this tongue in cheek but . . . " would the British Embassy be of some use here" - oops, sorry . . . . " I will go and wash my mouth out." You can be sure that if some nationalities were involved instead of the British that a way would have been found to work around this problem with Wills. |
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cheekychops Super user
Posts : 1186 Join date : 2010-03-20
| Subject: Re: Overseas residents bank at home and discuss wills Wed Dec 15, 2010 5:42 pm | |
| I'm not to sure its possible to get a definitive answer in Bulgaria about any law, it seems to me that the law depends on the region you are in and then it gets manipulated but your right its about time there was some answers to this problem and the the on here who is trying to help is doing his best and can I just say thank you to him for his help so far |
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