I am preparing wills for a (soon to be married) couple, both on second marriages. One aspect to the wills is that the couple have a private limited company registered/incorporated in England in 2022. The couple are the only 2 directors. The only asset of the company is a property located in Scotland.
My question is, does the company (holding the Scottish property) pass under the English wills (the ones I’m preparing for them), or should I be advising my clients to instruct a lawyer in Scotland to prepare a second will to cover their Scottish asset (the asset being the property in Scotland held by the English company)?
Save for this property in Scotland owned by the company, the couple own no assets in Scotland.
Thank you.
While not a corporate lawyer, nor qualified in English law, my understanding is that private limited company assets belong to the company and are not capable of being disposed of or bequeathed by shareholders. I presume your clients’ asset(s) is/are shareholding(s) in the company, rather than the property itself?
However, the question of property located in Scotland, held by those domiciled in England & Wales or Northern Ireland is addressed by the Administration of Estates Act 1971, s.3:-
(1) Where a person dies domiciled in England and Wales or in Northern Ireland a
grant of probate or letters of administration
(a) from the High Court in England and Wales and noting his domicile there, or
(b) from the High Court in Northern Ireland and noting his domicile there
shall, without being resealed, be of the like force and effect and have the same operation in relation to property in Scotland as a confirmation given under the seal of office of the Commissariot of Edinburgh to the executor or administrator named in the probate or letters of administration.
I hope this is helpful.
Sandy Lamb WS TEP
Lindsays LLP, Glasgow
