When executors or administrators of an estate are due to pay out an inheritance to beneficiaries who live abroad, it is necessary for them (or the solicitors dealing with the estate) to carry out an overseas bankruptcy search against all beneficiaries in their country of residence.
An overseas bankruptcy search should be undertaken in relation to all beneficiaries living abroad to ensure the personal representatives are paying the inheritance funds to the correct person. The foreign bankruptcy search mitigates the risk of the personal representatives and/or their solicitors being subject to a claim for compensation from a bankrupt beneficiary’s creditors.
The rules and procedures for bankruptcy searches vary depending on the country, so it is important that an executor/personal representative ensures that an overseas bankruptcy search is performed to establish whether there are any bankruptcy or insolvency proceedings against the beneficiary before any funds are distributed to them.
Worldwide Lawyers regularly help executors, administrators and law firms with regard to bankruptcy searches internationally.
We can undertake an overseas bankruptcy search in most countries across the world and regularly perform bankruptcy searches in:
America (USA), Australia, Austria, Barbados, Belgium, Canada, China, Denmark, Dubai (UAE), Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Italy, Jamaica, Latvia, Malaysia, Netherlands, New Zealand, Pakistan, Portugal, Romania, Russia, Singapore, Slovenia, South Africa, Spain, Sweden, Thailand, United Kingdom… and more!
As well as the above, we can also undertake bankruptcy searches in many other countries so please do not hesitate to contact us.
The costs, timescale and information required vary from country to country please contact Worldwide Lawyers for a quote and further information on 01244 470 339 or at email@example.com.