A Last Will and Testament is an important part of Estate Planning, it will provide all of the essential details of who will inherit your property, how they will inherit it, and who will be put in charge of settling your final affairs.
Planning for the future is an important step and we are here to provide you with all the necessary assistance throughout the process and offer our expertise on the matter.
Due to the fact that Cyprus has a forced Inheritance Law it is very important for all residents and owners of assets in Cyprus to have a valid and up-to-date Last Will and Testament.
We advise to prepare a Last Will and Testament in Cyprus to cover all your belongings, movable and/or immovable assets in Cyprus. We can assist you to set up your Last Will in Cyprus in the way which will not affect your assets and any other Last Wills and Testaments in any other countries.
As of 17/08/2015 the new European Regulation 650/12 came into force and essentially completely altered the existing legal framework of private international law rules in the field of inheritance law, as it applied to the Republic of Cyprus. Further according to the amendment of the legislation concerning Wills and Succession Law 96(I)/2015, the article 42 is been abolished which concerned the absolute right of disposal in certain cases (mostly British subjects). Article 20 of the Regulations provides that the law determined as applicable by the Regulation shall apply even if it is the law of a Member State. Unlike the current Cypriot Law which does not allow the choice of law by the deceased under any circumstances, Article 22 (1) of the EU Regulation provides for a person to choose as the law to govern his succession as a whole the law of the state whose nationality he possesses at the time of making the choice or at the time of the death. Further according to article 22(2) of the Rules, the choice of law should be a written declaration in the last Will.
Our Law Firm offers comprehensive legal services in all aspects of Last Wills and Testaments and Probates for protection of the interests and any wish of each client.