When a person dies without leaving a will, his heirs must start a process to demonstrate their family bonds and distribute the goods among all relatives according to Law.
Even when such a will exists a procedure is required––usually Judicial or before a Notary Public ––involving judges, and eventually experts and attorneys, thus resulting in high costs to complete the procedure so that heirs may receive their share of the estate.
These procedures are not only highly costly, but also complicated. If you are not a Costa Rican citizen, the procedure must be carried out in your country of origin, and then the ruling is executed in our country as a prerequisite to distributing the estate.
Thus, if you are a U.S. citizen and your will is valid, the process to distribute the assets among your heirs will take at least two / three years and will cost roughly 30% of the total worth of the assets, not counting the federal and state taxes that your heirs will have to pay.
At GLOBAL TRUST FIRM we manage Testamentary Trusts so that the last will of the Trustor translates into the effective and immediate delivery of the assets to the heirs upon the death of the Trust owner.
Years turn into minutes, the Judicial and / or Notarial process is eliminated, and costs are reduced by 90% or even 100 %. Moreover, when your heirs receive the assets they will receive advice by specialized attorneys so that the transfer on the legatee’s name is flawlessly completed, without any time wastes, and in an absolutely safe and confidential fashion.
Services:
- Advice on the creation of the best possible/most suitable will scheme.
- Inclusion and exclusion of heirs, for whichever time and for the number of times wished, while the trust owner is still alive.
- Inclusion of heirs into new or existing trust agreements.
- No Testamentary Trust is executed until there is true and convincing evidence that the Trust owner has died.
- Overseeing compliance with the conditions for distributing the assets.
- Absolute confidentiality and secrecy concerning the names of heirs and the conditions to be met before distributing the estate.
- Distribution of the estate among the heirs.
- Provision of advice to heirs on the transfer of assets in their name.
