One For Cyprus Assets And Another For Assets In The Uk Or Other Jurisdictions?
Many readers may have heard me talking about the above on VIVA FM radio when every other Friday morning I discuss matters relating to Wills, Lasting Power of Attorney documents, Probate and Funeral Plans.
Most Cypriot lawyers only create Cypriot or what is often referred to as International or Worldwide wills. WHY? – Because they do not have the ability to write UK or other wills to cover assets overseas.
One of the problems about writing a “Worldwide will” here in Cyprus is that when someone passes away, Probate has to be applied for here and as many people know this can take years to obtain. Indeed, on a recent VIVA FM programme, I discussed with a Cypriot lawyer how one of her Probate cases had started in 2008 and was not yet completed.
Until that Probate has been obtained, you can’t start the process of obtaining access to assets elsewhere. That process of obtaining probate in a second country is known as Resealing.
For the sake of the cost of a few hundred Euros in having a second will created, executors can save months, if not years, in being able to access those other assets.
Apart from us at Maplebrook Services Limited obviously being able to create wills in England & Wales, we have created relationships with lawyers in Scotland, Eire, Isle of Man, Jersey, Guernsey and even France to enable our clients to manage their affairs correctly and efficiently.
For further information, please contact Wayne Barnett FCA MIPW STEP Affiliate on 99147650 or 26600780 or email us at [email protected]
