CONSULT ESTATE LAWYERS COLOMBIA
The general assumption is that anything connected to the estate in Colombia is too complicated for common understanding. All transactions conducted under estate law are related to several legal aspects, say lawyers in Colombia. It is not like a criminal case or an accident case in Colombia confining the boundaries of the case to a set of facts. In estate law-related cases, there are numerous aspects involves such as inheritance, family relations, divorce, legal heir, business debts, and other such complex aspects.
Documents related to estate law can seem to be simple and easy to understand in Colombia. One may contemplate as to why should experts in Colombia be contacted for opinions when the law is so simple. Such thoughts will disappear once an exposure is given about how these documents are drafted. Drafting estate law-related documents in Colombia is not as simple as it is often believed. Such documents are simple only due to the adequate research the lawyer, the preparer of the document has made before finalizing the draft. Lawyers state that estate-related documents are more often part of history and are relied on to understand the chronological events concerning a property. If the inheritance-related property documents in Colombia should be flawless, the lawyer preparing the document should invest sufficient time in researching all details and draft it in flawless language. Also, you deserve an expert, consulting an estate lawyer in Colombia is thus advisable.
The lawyer you consult should be someone who has proffered advice on estate matters in Colombia all his life. It is important to consult a lawyer who offers competent advice not merely advice based on what is seen first-hand. In-depth research is required to be made before the lawyer in Colombia provides his guidance.
What Are the Factors the estate lawyer checks before offering his opinion?
The estate lawyer ascertains the type of ownership of the property. Finding out the type of ownership is vital before drafting documents in Colombia. There are different types of ownership such as joint ownership, single ownership, business partnership property, company property. The documents that an estate lawyer insists on seeing include the prenuptial or any marital agreement to know what share of the estate the spouse is entitled to.
The lawyer you seek guidance from should have thorough knowledge on various fields in Colombia related to estate laws such as wills, trust, property rights, obligations of foreigners, etc. Also, mere knowledge of the law is not sufficient. The lawyer you speak to should have information on the existing laws and procedures. It is also important that the estate lawyers you hire should have practical exposure to the laws applicable to the rules of inheritance in Colombia.
When you retain a lawyer for any issue concerning your estate, you need to speak to a lawyer who is skilled in drafting. The lawyer who you propose to hire for drafting your estate documents should have sufficient knowledge of applicable laws in Colombia and should be competent to draft the document according to the unique needs of your situation.
At this point, you should know that every word used in the document is of high significance. A single word can change the meaning of the document and may even convey the title to someone else. Drafting of documents pertaining to estate laws is so crucial, making it all the more important that you retain a lawyer who is adept at using the right words. Truly efficient lawyers are aware of what words should be used based on their widely acquired experience in the field. Your lawyer has already prepared numerous documents of the same nature as the document your present situation requires. His experience will dictate to him the rights words to be used in the document.
Also, your lawyer speaks to his competent friends about the updates in law in Colombia, making sure such updates are included in your estate document. Lawyers accomplished in the field of estate laws are eager to be updated at the earliest about any new developments in the law or any case laws setting a precedent. This eagerness to be updated leads your lawyers to make a thorough reading of the recent judgments in Colombia. Such a lawyer makes use of the knowledge he is equipped with in the preparation of your documents.
Probate Law In Colombia
The procedures involving transferring estate upon the death of a person are probate law in Colombia. It is common for the law to change with time, the same has happened in probate law in Colombia. Regardless of the changes in law, the fundamental purpose of the law has remained static, that is implementing the intentions of the deceased about his/her estate. The intentions of the deceased are usually revealed by the existence of a written will. In Colombia, if this will have to be implemented it has to be done according to the procedures established in probate administration requirements. Your lawyers in Colombia will make sure you comply with the legal requirements of probate law.
For accurate execution under probate law, it is important for the lawyer you hire to properly understand your requirements. You need to disclose every single detail of your case for your lawyer to provide you with adept assistance. You may not know the legal requirements of the law and may go wrong in some aspect thus resulting in the documents turning invalid. To avoid such consequences it is always essential to seek expert assistance before proceeding with probating the will in Colombia.
Information About Liabilities’ You May Incur Due To Owning Estate In Colombia
If you are a citizen of the United States or any other foreign country and wish to own properties in Colombia, you should consult a lawyer before the decision. Your lawyer will forewarn you about the possible taxes you may be imposed with. If you belong to the United States you need to stay double cautioned as the laws of both countries will impose liabilities on you. Before the estate decision, you need to analyze whether you are in a stable financial position so as to handle the tax burdens of both countries. In Colombia, any foreigner owning estate should pay the capital gain tax. To know more about whether you will be imposed with the liability to pay the capital gain tax in Colombia, you should immediately contact an estate lawyer.
Why is the inheritance law in Colombia different from other countries
In Colombia, the inheritance law is different from the law existing in other countries. In Colombia, legal heirship is generally forced. The inheritance laws are not like the procedures followed in countries like the United States. Under the inheritance laws in Colombia, the estate of a person is divided equally between the spouses and children. The individual has the liberty to dispose of property according to his wish only to the extent of 25 percent of the estate.
Estate Planning: Crucial Factors
There is no common solution for all problems. The same logic applies to estate planning in Colombia. Crucial factors that determine the type of estate planning you are entitled to include whether one is married, the geographical situation of the property, etc. Also, your interests in business will decide the nature of estate planning. The lawyer ascertains the requirements of your case to decide how the document is finalizing. At times, parties are inclined to contribute to society through a non-profit organization in Colombia. If such noble intentions are openly discussed with lawyers, workable solutions are resolved.
Your lawyer will request all information about your plans. During such discussions, you should be careful in revealing your intentions about who should attain your property after your demise. Not only are such conversations restricted to who should get legal rights on your property, but you should also take efforts to reveal who should not get your property. There are cases where the planner will want the estate to devolve on other extended family members with whom he/she shares a close relationship. All such crucial information is carefully gathered by your lawyer before finalizing estate documents like a will.
Why is the living trust in Colombia more preferred than other means of transferring estate?
By placing all your property in a living trust, you make sure your intentions as to your property are implemented while you are alive while at the same time allowing you to have control over the property. The living trust document is crafted by an attorney in Colombia including provisions that indicate that all properties mentioned in the living trust are transferred to specific individuals who are considered as beneficiaries of the living trust. After the living trust is signed in Colombia, all ownership of the property is transferred to the trust and is inherited by your beneficiaries after your death. Also, you have the liberty to either provide for the appointment of an administrator or provide for the assets to directly be transferred to your beneficiaries, say estate lawyers.
For all doubts about the legal process associated with estate planning in Colombia, contact our estate lawyers at The Law Offices Of SRIS, P.C.