leaving UK assets in a will

[Tempo66]

My wife and I want to update our (very out of date) wills.

Simple enough plans:
First death: leave house to surviving spouse and % split of assets between our children
Second death: split house and residue equally between children

We have c. £200k cash sitting in the UK.
I think there may be complications for a will if some of the assets are outside of Ireland?
For estate planning are we better to bring our assets together in Ireland?
(I'm not thinking of issues like exchange rates, more potential complications for making a will and impact on the beneficiaries).
Thanks for any help on this question.

 

[ClubMan]

Why don't you use some of it to clear your mortgage?

Moving from joint to single mortgage and reduce term?

Hi, First time posting. Found a similar thread to this from Dee1000 on 22 Nov 2019, but ours slightly different Looking to change joint mortgage (2 couples) to sole ownership (1 couple). House is our principal private residence since 2005. Other couple had a 20% stake. We did a side agreement...

www.askaboutmoney.com

 

[Brendan Burgess]

Are you living in Ireland long-term?

If so, why have you got a UK deposit?

Unless there is a very good reason for it, move it back to Ireland.

And as ClubMan says, clear your mortgage.

Brendan

 

[Dr Strangelove]

I don’t see a good reason for an Irish resident to have sterling savings in a UK account on an indefinite basis. You have currency fluctuations and have to report deposit interest as income on a Form 11.

Also try make life easier for your executor.

 

[Tempo66]

Apologies for not replying - life intervened. Thanks for comments. You are right - am planning to move it to ROI. It was there from an inheritance.