The death of a loved one can cause other than the expected sorrow to the closest relatives, confusion and conflict among the deceased one’s heirs, concerning the administration and final inheritance of the deceased person’s estate.
Needless to say, that more often than not, the discovery of the existence of a Last Will could complicate the situation between heirs even more. It is noted that if a person was domiciled in Cyprus at the time of their death, the order of succession among relatives will be determined by Cyprus Law.
Cyprus Law will also determine the succession of heirs concerning immovable property situated in Cyprus irrespective of whether the deceased person was domiciled in Cyprus at the time of death, or not. In other words, if a person who was not domiciled in Cyprus, became deceased, while being the owner of immovable property situated in Cyprus, the said immovable property would be inherited in accordance with Cyprus Wills and Succession Law.
Furthermore, it is noted that according to Cyprus Law, the disposal of all assets of any person by Will, is allowed under certain conditions. In case the deceased person is survived by spouse and children or spouse and children of children or only children’s descendants, the disposable part is restricted to 25% of the assets of the deceased person. In case the survivors are only spouse or ascendants (father or mother) but not children or children’s descendants, the disposable part corresponds to 50% of the net assets. In case there is no spouse or children or children’s descendant, or father or mother surviving the deceased, then the entire property of the deceased person may be disposed by Will.
Obtaining legal advice regarding the administration of a deceased person’s estate or your rights as heir will make things easier and help ensure your legal rights.
Contact us now for legal advice regarding the drafting of a valid Last Will or the filing of caveat against probate application or for administration services concerning deceased person’s estate.
