Legal Question in Wills and Trusts in California

How is a foreign brokerage account probated?

I am a British citizen living in California on a green card. I have no physical property in the UK, but I do have 2 brokerage accounts with a broker in the UK. Would those accounts fall into my estate here and be probated in CA or would they fall under UK jurisdiction?


Asked on 3/03/09, 8:29 pm

1 Answer from Attorneys

Michele Cusack Pollak & Cusack

Re: How is a foreign brokerage account probated?

Your estate may be probated in CA if you are a "resident" of a CA county- US citizenship not required. Intangible personal property (like bank and brokerage accounts) are "located" in the place of residence of the owner under CA probate code and British common law, so I THINK those UK accounts could come under the jurisdiction of a CA probate, but I AM NOT SURE. (This is an issue I have researched and even once posted a question here about, and I still don't have a definitive answer). Best advice? Talk to a solicitor in England and then call me and let me know what s/he thinks! Thanks!

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Answered on 3/03/09, 11:58 pm


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