Testament in DR

juanita · #1 03-01-2005, 11:38 AM

Anyone here ever had to do a testament here? How does it work, where do you go, the cost? I’m not dying just yet but I would hate to think that anyone else but my daughter ends up with my stuff! Thank you in advance!

Naufrago · #2 03-01-2005, 11:47 AM

Good Question. And while we're on the topic, what are the intestacy laws in the DR? (In other words, what happens if you die without a will?)

juanita · #3 03-01-2005, 11:55 AM

Quote:

Originally Posted by Naufrago

Good Question. And while we're on the topic, what are the intestacy laws in the DR? (In other words, what happens if you die without a will?)

I'll write you in my will and leave you my banana cake recipe!

Mirador · #4 03-01-2005, 11:55 AM

That's an easy one, and I ain't no laywer, notwithstanding my many friends at the prestigious law firm 'Lock, Stock and Barrel, Attorneys-at-law'. It's 50/50 proposition: fifty for the spouse and fifty for the children, and that includes anyone with DNA proof of descendancy.

Mirador

Naufrago · #5 03-01-2005, 12:02 PM

Well my Lawyers at Dewey, Cheatham and Howe, tell me that it's never that easy! What about ex-wives, adopted children, legal children without DNA linkage, etc.. What about a right of election against a Will? (Can you write a spouse out of your Will altogether?)

AnnaC · #6 03-01-2005, 12:25 PM

Here's a quote from Mr Guzman

Quote:

Originally Posted by Fabio J. Guzman

Wills are not used in the DR as much as in the US because most Dominicans leave all their assets to their children. It's considered the natural thing to do.

The law not only assumes that the children will be the heirs but also prohibits a person from writing a will giving more than a certain percentage to others. For example, a person with three or more children can only dispose by will of 25% of his/her assets. The remaining 75% is RESERVED BY LAW for his/her three children. "Forced heirship" rules such as this one are the norm in all Latin countries: Spain, France, Portugal, Italy, Latin America. From a Latin point of view, the common law system which allows, for example, a 90-year-old man to marry an ex-Playmate of the Year and after a year of marriage leave a will giving her all his assets, excluding his children in the process from any portion of the inheritance, is just bizarre.

The law on estate taxes also shows a cultural bias against unrelated beneficiaries: estate tax rates increase from 17% for children to 32% if the beneficiary is not related to the deceased.

juanita · #7 03-01-2005, 03:22 PM

So this means that there is “no way” to write up something legal stating that ALL my possessions are to be sold and the profits to be left for my daughter to use later? Or that all my savings would be going to my kid’s name? I can just see the blast my ex would have going through my house and leaving with a pickup filled with my stuff to furnish his own place! Grrrrr!!!

Lambada · #8 03-01-2005, 04:27 PM

juanita,
What if you were to 'gift' it to your children now, before you get anywhere near expiring? Then when you do, there is nothing for the ex, because you have left nothing.......it is already in the possession of your children. Of course, this presupposes your children won't turn funny & put you out on the street penniless whilst you are still alive.........but I assume you trust them more than the ex?

gringosabroso · #9 03-01-2005, 05:56 PM

Depending on the market value of the assets with which you are concerned, consider:
* joint tenancies with 1 or more of your children, dividing the assets you wish the specific offspring to receive at death to that specific child; then change the names on the bank account[s] or titulo;
* a trust? I don't know if trusts are legal in the DR? Very widely used in the USA, going back centuries to English common law;
* [somewhat more complicated] a life estate & a remainder interest, included in the titulo; this means that 1 person [ex. father] has exclusive right to possession while he is alive; a 2nd person, perhaps plural, [ex. daughters] have the exclusive rights to possession & legal title at the death of the life tenant.
Not too complex, & well worth the cost to avoid the DR probate system & legal profession. Food for thought?

Hillbilly · #10 03-01-2005, 07:32 PM

with Lawyer Guzman, just to be sure, but I do not think that your ex has any claim to anything you leave your daughter. Besides, lawyers know how to hide assests so that daughters can inherit what you what them (her) to.

Don't sweat this issue, just get in tough with our expert.

My dear father-in-law was able to bamboozle the gov't by getting rid of all of his farms and property while still alive and upon his death there was nothing left to tax! And all 17 kids were relatively happy... So it can be done.

HB