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A Costa Rican Will is going to save your family from unnecessary extra distress
There are thousands of foreigners that have invested in Costa Rica. They either purchased property, invested in a business or opened bank accounts, or a combination of these. But have they taken into consideration to what would occur to their investments and possessions in the event that they pass away? Some people will rely on decisions that they made in their home country without fully comprehending how those decisions would be put into practice in Costa Rica.
When a foreigner who has assets in Costa Rica passes away, their property will be distributed to their legal heirs. The manner in which 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 at all.
So it’s very important 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 be in charge of organizing 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 is to 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 you have, 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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