Hello - I'm not sure if this topic should go here or elsewhere. Feel free to move it if need be.
I am wondering how wills, trusts, estates and inheritance work for expats in PT.
My husband and I are Americans thinking of moving to PT and potentially becoming dual citizens of the US and PT eventually.
It seems as though all your assets in the US would be under US law and all assets in PT would be under PT law. Is that right?
I read a brief article that said something about inheritance law in PT - that you cannot legally leave all your PT assets to a spouse if there are children. That you have to give a percentage to the spouse and each child. Do you know if that is correct? And what the percentages are?
I assume that one would need to meet with a lawyer in PT and draw up a will/estate/trust there. Do you get to decide the percentage that would go to surviving spouse and each child?
Also wondering what the tax laws are regarding inheritance in PT.
Would all the PT laws only apply to assets acquired in PT? Examples - income from a PT job, a house, a car, etc.?
If all the money you are living off of comes from the US would only US laws apply to those funds?