Wills-Trusts-Estates-Inheritance – Red Tape / Business – Expats Portugal Community Forum

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Wills-Trusts-Estates-Inheritance  


Posts: 9
 Riri
Community Member
(@riri)
Active Member
Joined: 3 months ago

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?

6 Replies




Posts: 338
Admin
(@astridff)
Active Member
Joined: 9 months ago

Great questions, thanks for posting.

Unfortunately, I don't have the answers for you but I hope someone will.

But just so you do know, if you need to engage a law firm here in Portugal, we can recommend Reis & Pellicano - they also offer our Premium Members a 10% discount off their fees.

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Posts: 39
 Bert
Premium Member
(@bert)
Eminent Member
Joined: 5 months ago

Good Morning, I am a US citizen Riri and currently in the midst of research for the topics you suggest anticipating my move to PT in 2022. I did e-mail Senhor Reis and he responded to much about D7 citizenship and dual citizen ship. He then referred me to a tax person who I spoke with. Much of the information is helpful though I don't have all the answers. I am also checking with a local accounting service in the US that has many Portuguese clients because most US accountants have no idea about the tax treaty between the US and Portugal. These are complex questions and are also related to taxation rates during the NHR period and after. Yes, inheritance laws are very different. Also, please check with your investment advisor if you have one. You cannot use most investment accounts or advisors if you live in PT other than to withdraw money. If you want to discuss further please message me. Hope this helps. PS - I found listening to all of the Calling Portugal Webinars quite helpful with bits to point me in the right direction.

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Posts: 2187
VIP Member
(@x-camone)
Noble Member
Joined: 11 years ago

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?

As a foreign citizen, you have the right to make a will according to the law of your own country. If that law allows that you may divide and leave your estate however and to whomsoever you wish, then you can do as you like provided you make a will.

If you die intestate, Portuguese succession law applies.

I think the usual advice is 2 wills if you have assets in 2 countries. Seek professional advice, obviously - this is just to get you started.

Also wondering what the tax laws are regarding inheritance in PT.

Spouse, children, grandchildren, parents and grandparents are exempt from tax on inheritances. Anyone else pays 10% stamp duty.

 

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1 Reply
 Riri
Community Member
(@riri)
Joined: 3 months ago

Active Member
Posts: 9

@x-camone thank you! we would definitely meet with a lawyer - one here and one there - to get this all officially sorted but i just wanted to get some initial info. i was pretty sure u.s. assets would be under u.s. law but i wasn't sure about pt assets like income from a pt company or a pt house. seems like that would be under pt law. i guess we'll see!

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Posts: 2
Community Member
(@maria2020)
New Member
Joined: 4 weeks ago

I have replied but I cant find my reply posted. How can i find it?

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1 Reply
Admin
(@astridff)
Joined: 9 months ago

Active Member
Posts: 338

@maria2020 Hi Maria, we deleted the reply as we do not recommend including phone numbers on posts. We have had issues in the past with members complaining. Thanks

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