Good morning folks,
I'm actually quite certain that there may already be a thread on this, but searching for the world 'will' has been unfruitful.
As the title suggests, I'm looking at completing a will - and have a few questions.
Do all assets need to be explicitly stated as to whom they are being left to - or can one simply use a broad stroke method, and state that 70% of everything goes to X, and 30% of everything goes to Y?
Another question, when leaving assets to a foreign person, (specifically, an American citizen) - will any taxes apply to them? I'm aware of the Inheritance tax over in the states, but as far as I know - we have none here. I'm rather uncertain about that point, especially.