A Costa Rican Will is going to save your family from unnecessary extra distress.
Thousands of foreigners have invested in Costa Rica. They purchased property, invested in a business, opened bank accounts, or combined these. But have they considered what would occur to their investments and possessions if they pass away? Some people will rely on decisions they made in their home country without fully comprehending how those decisions would be implemented in Costa Rica.
When a foreigner with assets in Costa Rica passes away, their property will be distributed to their legal heirs. How this occurs will depend on whether the deceased foreigner had a Will in place when they died in Costa Rica, had a Will from another country, or had died without a Will.
So it’s imperative to have your Will. It will let everyone know what should happen to your possessions, property, and money (known as the estate) and who will organize your estate after you die (known as the executor). Without a Will in Costa Rica, the state and the Catholic Church can decide how your estate will be passed on – and this is why you should make a Will.
You can also use your Will to tell people about any other wishes, like instructions for your burial or cremation. Your executor is the person that makes sure your wishes are followed.
3 Reasons why you should make a Will and Testament:
- A Will makes it much easier for your family and friends to sort out everything after you’re gone;
- Writing a Will is especially important if you have children or another family who depend on you financially;
- If you don’t write a Will, everything you own will be shared in a standard way defined by the state and the Catholic Church.
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