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Uribe & Asociados, your trusted lawyers in Panama and Colombia.
Specialists in Inheritance Law in Panama and Colombia:
In inheritance matters, the firm Uribe & Asociados is distinguished by its recognized experience in Panama and Colombia. Whether the testator distributed their assets during their lifetime through a will or did not, our lawyers are prepared to represent you in any inheritance process.
In Panama, inheritance processes are handled before municipal or circuit courts of the civil branch; the applicable court depends on the amount involved.
In Colombia, there is the option to process inheritance cases before family or municipal civil judges of the deceased person’s last residence, or where their main businesses were located; this usually occurs when there are disagreements among heirs regarding how to divide the assets.
When the inheritance is processed before a notary, it becomes a special and expedited procedure that allows the process to be completed within an estimated period of two months and can be carried out when there are no disputes among the heirs and all agree on the distribution of the assets.
There are two types of inheritance processes:
Testate succession, which occurs when the deceased decided during their lifetime who would have the right to inherit their assets; in this case, the right to inherit is determined by the testator in the will.
Intestate succession, which occurs when the deceased leaves no will, and the right to inherit is determined by law.
Among the most common types of wills in Panama are:
Open Will: This type of will must be granted before a notary and signed by three (3) competent witnesses, who must understand the testator, with at least one able to write.
Closed Will: In the case of a closed will, it may be written by the testator or by another person at their request, provided that person has the legal capacity to do so. It must be written on stamped paper of the type established by the Fiscal Code, indicating the place, day, month, and year it is written.
Holographic Will: To be valid, it must be presented before the competent judge for opening and protocolization. This procedure must be carried out within five years following the death. It must be granted by adults; additionally, it must be written clearly and precisely by hand by the testator and signed by them, indicating the day, month, and year it was granted
More Information on Inheritance Law
At Uribe & Asociados, we advise you on estate organization to ensure that your assets are inherited according to your wishes, preventing future family conflicts.
We have qualified lawyers who will work to ensure your inheritance rights are recognized; we handle representation for all types of inheritance processes in Panama and Colombia.
We are specialists in inheritance matters; if any conflict arises among heirs, we seek alternatives to reconcile the differences between the parties.
FAQ
The basic requirements to start an inheritance process are: granting power of attorney to a qualified lawyer, original death certificate, birth or marriage certificate to prove the relationship with the deceased, original will (if applicable), identification of the persons mentioned in the will, and a list of movable or immovable assets to be inherited with their respective appraisal or registered value.
It is completely feasible to hire our services even if you reside outside the Republic of Panama. If you are in Colombia, you can contact our offices located in Medellín or Panama City. If you are in any other country, you can also reach out to us to initiate the procedure. To represent you in the inheritance process, it will be necessary to grant us a duly legalized power of attorney. This power of attorney must be apostilled or authenticated by the Panamanian consulate or the consulate of a friendly country, in accordance with the applicable international regulations.
There are different options to transfer assets, among which we can mention the will, which can be open, closed, or holographic.
If you have several significant properties, the most appropriate option is a trust.
A Private Interest Foundation is another important vehicle to organize your assets with clear rules that can be applied upon your death.
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