WILLS & TRUST

Why It Is Important to create a will in Costa Rica?

Living in Costa Rica or owning property in this beautiful country comes with vital legal responsibilities that should not be overlooked, especially regarding estate planning. One of the most crucial—and often postponed—steps is drafting a valid will in Costa Rica.For any foreigner with property, investments, or even a bank account in Costa Rica, it is essential to clearly articulate your wishes within the framework of Costa Rican law.

Without a valid will, your assets may be subjected to a prolonged, costly, and complicated inheritance process for your heirs, especially if they live abroad. This situation can lead to family conflicts, financial losses, or even the inability to access what you’ve worked so hard to build.Creating a will is not just for the elderly or those who are ill; it is for anyone with dreams, aspirations, and loved ones to protect.

Responsible estate planning should be undertaken at any age, especially if you have accumulated assets, a family, a partner, or financial dependents. A will provides peace of mind, safeguards your loved ones, and ensures your wishes are honored according to the law.In summary, for foreigners in Costa Rica, creating a will is more than a legal formality; it is an empowering act of responsibility and foresight that ensures peace and order when it is most essential.

If you possess assets in Costa Rica, it is vital to have a will that aligns with local laws so that your legacy is distributed according to your wishes after your passing. Foreign wills do not protect your assets in Costa Rica.Failing to have a will can complicate the journey for your heirs. The Costa Rican Civil Code outlines potential heirs who may have claims on your assets.

To obtain a will in Costa Rica, you need to engage a notary public.This process results in a public deed that beautifully captures your assets and wishes. The cost of drafting a will reflects your total asset value. Furthermore, trusts play a significant role in asset management in Costa Rica.

 

Establishing a trust can provide powerful benefits, including protection from creditors, avoidance of probate, potential tax advantages, and enhanced control over how you wish to distribute your legacy.

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Contact us to assist you in this process.