25 Jul Inheritestate, Attorneys in El Salvador
Inheritestate, Attorneys in El Salvador
Inheritestate, Attorneys in El Salvador is an international law firm that specializes in cross-border estate matters including the probate process in El Salvador (e.g. certificate of inheritance), probate litigation (e.g. will contest, forced share), probate taxation, and estate planning for international clients (e.g. wills, durable power of attorney).
Our services provide international lawyers that are competent in several languages, e.g. English and Spanish.
Our international network includes experience in every country of the American Continent and in each of the following Departments of El Salvador: Ahuachapán, Cabañas, Chalatenango, Cuscatlán, La Libertad, La Paz, La Unión, Morazán, San Miguel, San Salvador, San Vicente, Santa Ana, Sonsonate, and Usulután.
Inheritestate, Attorneys in El Salvador unique focus on international probate and estate planning has made it one of the leading international probate law firms specializing in international inheritance law.
It is our ambition to provide personal and direct, partner-level attention to all clients and matters, corporate as well as private. We anticipate what will face next. We have a history of being on the forefront of disputed processes and it is our core strength to successfully implement our viewpoints and perspectives, towards Courts, Panels, Authorities and finally our client’s opponents. This is part of our professional approach and commitment to help fulfill our client’s goals.
We are determined to do an outstanding job, for the client and for us. Our client’s issues are our issues; our client’s success is our success. We observe personal, ethical and professional standards in everything we do and operate with integrity. We preserve our clients by doing what is necessary to do.
Our strengths are diversity and fresh perspectives. Building on the foundation of over a decade and a half of legal service, we maintain and develop the broad experience and diverse skills necessary to fulfill our clients’ goals by anticipating and managing the business and personal matters in accordance with state of the art legal knowledge.
Wills and estate planning
Our lawyers prepare wills, powers of attorney, enduring powers of attorney and advanced health directives for clients. We also offer estate planning services including:
- advising on structuring asset holdings for individuals, families, and businesses
- managing the administration of deceased estates
- advising on taxes.
Our alternative dispute resolution specialists often help clients through difficult circumstances, such as conflicts in estate matters.
Inheritance in El Salvador
El Salvador inheritance law provides that decedent’s property passes directly to the heirs at the time of death. Under El Salvador´s law, the same rule applies to decedent’s obligations. Consequently, besides assets, you may also inherit debts in El Salvador. But it is possible to disclaim an inheritance.
If you are an heir under El Salvador´s law, it depends on whether the decedent left a will. If there is no will, you may be an heir at law under El Salvador´s law of intestate succession. If there is a will, in most cases, you will only be an heir if decedent named you explicitly, or implicitly. But, if you are not an heir under the will, the law provides that you may still be entitled to a forced share of the inheritance, even if decedent intended to exclude you.
This is a list of the inheritable property/assets a person can inherit in El Salvador:
- Property that was owned solely in the name of the deceased person: If the decedent solely owned the property it will go through probate.
- Property held in joint tenancy: If you are a joint owner with full rights of survivorship you will automatically be transferred ownership when the other owner dies
- Property held in community property: Assets you own jointly with your spouse
- Real estate
- Retirement accounts
- Life insurance
- Funds in a bank account
- Real estate
- Wages, salary, or commissions due the deceased person
- Vehicles (car/motorbikes)
- Aircraft/Airplane/Helicopter: they can remain in the name of the person who died until you want to transfer the property. The new owner must register the aircraft at the Autoridad de Aviación Civil de El Salvador (AAC)
- Household goods and other items go to immediate family members.
- Insurance policies, retirement plans, and some bank accounts: these let you name a beneficiary. When you die, these assets will be paid directly to the person(s) you have named as beneficiary.
- Business: A trusted employee or family member may be selected to continue to run the business while the estate is still pending. Ultimately, the business will be transferred to a family member or employee or sold.
- Airline miles: Make sure you have your own account, into which the awards can be transferred.
Frequently Asked Questions
What is Estate Administration in El Salvador?
Estate administration involves collecting and managing a deceased’s assets. Paying the deceased’s debts and distributing the estate assets to beneficiaries. An estate can take anywhere from 6 months to several years to administer depending on the nature of the assets, the age of beneficiaries and whether any disputes arise.
Who needs probate?
Anyone who needs to sort out the affairs of someone who has died and needs to access their bank accounts, investments and other assets in order to pay their debts, inheritance tax and distribute their estate.
What is the Probate Process?
There are 3 main stages to obtaining probate or administration:
- Investigating the extent of the estate.
- Completing tax returns
- Collecting in the assets, paying the debts of the person who has died and distributing the remaining estate.
Why use a professional firm?
The probate process can be complex and time-consuming. Tax returns must be made on the basis of information that is collated from the holders of all the deceased’s assets and liabilities, including bank accounts, investments, pensions and all other assets. Once probate has been obtained the assets must be collected in and the liabilities of the estate must be paid before the estate is distributed.
The process relies on specialist legal and tax knowledge and there are a number of complications that can arise. For example, issues with the validity of the Will can be dealt with quickly and efficiently by an experienced professional.
We are a professional firm of experienced Wills and probate solicitors who offer a personal, efficient service. You will have the peace of mind of knowing that your affairs are being dealt with in a sympathetic, efficient manner at a price which offers excellent value for money and which is fixed at the outset.
How long will probate take?
Probate in El Salvador will take at least six months to a year, or possibly longer dependent upon the size of the estate.