| Pages:
1
2 |
Marla Daily
Nomad
Posts: 418
Registered: 9-2-2003
Location: Loreto, BCS
Member Is Offline
|
|
Need Mexican wills —any advice or tips?
We need to do Mexican wills for our property in Loreto. Does
anyone with experience have any recommendations, tips or advice?
There is one month a year in Mexico when wills are allegedly half-price—September I think?
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by Marla Daily
We need to do Mexican wills for our property in Loreto. Does
anyone with experience have any recommendations, tips or advice?
There is one month a year in Mexico when wills are allegedly half-price—September I think? |
Half price from whom? The Notario Publico?
|
|
|
Russ
Elite Nomad
Posts: 6742
Registered: 7-4-2004
Location: Punta Chivato
Member Is Offline
|
|
I did one at the Notary. But I had someone translate for me what I wanted before I went in.
Bahia Concepcion where life starts...given a chance!
|
|
|
Osprey
Ultra Nomad
Posts: 3694
Registered: 5-23-2004
Location: Baja Ca. Sur
Member Is Offline
|
|
We got ours at the reduced rate this January from Lizarraga # 22 in La Paz.
Quick, cheap, professional and now we are recorded with his office and the registry office in that same city.
|
|
|
Marla Daily
Nomad
Posts: 418
Registered: 9-2-2003
Location: Loreto, BCS
Member Is Offline
|
|
How much did your will cost to have done?
|
|
|
bajajudy
Elite Nomad
Posts: 6886
Registered: 10-4-2004
Location: San Jose del Cabo,BCS
Member Is Offline
|
|
I think that March is also half price month
|
|
|
Osprey
Ultra Nomad
Posts: 3694
Registered: 5-23-2004
Location: Baja Ca. Sur
Member Is Offline
|
|
$75 dollars each (a couple needs two separate wills)
|
|
|
bajagrouper
Senior Nomad
Posts: 964
Registered: 8-28-2003
Location: Rincon de Guayabitos, Nayarit, Mexico
Member Is Offline
Mood: happy and retired
|
|
Are you getting a will because you have a fedicomisso ?
I hear the whales song
|
|
|
ncampion
Super Nomad
Posts: 1238
Registered: 4-15-2006
Location: Loreto
Member Is Offline
Mood: Retired and Loving it
|
|
Had our will done by the Notario in Loreto a couple of years ago. I basically wrote it (with a little guideance from our US attorney). Had to pay to
have it translated and pay the Notario to write it up and register it. Don't remember the exact costs, but guessing in was a couple hundered USD
each.
We got them done here as our US estate attorney said that our US will may not be accepted my Mexico and it would be safer to just have a simple
Mexican will JIC. All this so our kids can spend our money easier!!
|
|
|
DaliDali
Super Nomad
Posts: 1132
Registered: 4-21-2010
Location: BCS
Member Is Offline
|
|
If you have a fidicamiso now, and you have designated a beneficiary, then a will is not needed to protect your property.
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by DaliDali
If you have a fidicamiso now, and you have designated a beneficiary, then a will is not needed to protect your property. |
I think I'd spend the few Pesos and get the will. It may save your heirs some grief.
|
|
|
DaliDali
Super Nomad
Posts: 1132
Registered: 4-21-2010
Location: BCS
Member Is Offline
|
|
| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by DaliDali
If you have a fidicamiso now, and you have designated a beneficiary, then a will is not needed to protect your property. |
I think I'd spend the few Pesos and get the will. It may save your heirs some grief. |
Your "heirs" are fully covered from "grief" if they are listed as a beneficiary on your fidicamiso....which is a certified legal document,
administered by a Mexican bank.
|
|
|
bajaguy
Elite Nomad
Posts: 9247
Registered: 9-16-2003
Location: Carson City, NV/Ensenada - Baja Country Club
Member Is Offline
Mood: must be 5 O'clock somewhere in Baja
|
|
Fide Q???
| Quote: | Originally posted by DaliDali
| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by DaliDali
If you have a fidicamiso now, and you have designated a beneficiary, then a will is not needed to protect your property. |
I think I'd spend the few Pesos and get the will. It may save your heirs some grief. |
Your "heirs" are fully covered from "grief" if they are listed as a beneficiary on your fidicamiso....which is a certified legal document,
administered by a Mexican bank. |
Does a fidicamiso cover just the house/property, or does it also cover personal property, assets and distribution of personal property and requests
for dispossession of remains???
I think I would rather have a Mexican will in place. I don't want anything administered by a foreign bank.
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by DaliDali
a certified legal document, administered by a Mexican bank. |
Now....there's an institution of iron clad promises. 
How many times have they expropriated dollar accounts and been federalized to cover the loses of an irresponsible government?
I don't care who you place your trust in. My choice would be to hedge my bet and buy the will.
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
By the way....banks have been known to withdraw Fideicomisos. It happened out at Punta Banda during the expropriation.
|
|
|
DaliDali
Super Nomad
Posts: 1132
Registered: 4-21-2010
Location: BCS
Member Is Offline
|
|
I just went through this with a Mexican attorney this past week.
If you have a beneficiary listed on your fidicamiso, you do not need a MX will to protect your property.
The beneficiary simply becomes the "trustee", once the original fidicamiso trustee has died.
This same attorney suggested that any vehicles and boats that are titled in the USA, be titled as "or", or "and or"
Now those vehicles can be removed, if so desired, because your heir is also listed as an owner on the ownership documents. This heir and co-owner, can
simply show any MX authorities his/her ID and the vehicle title....showing their name as an owner.
Household goods are not subject to being titled, as far as ownership rights are concerned, and become the property of the beneficiary to your
fidicamiso.
Televisions do not have a pink slip.
Let's say you die. Bob, your good friend, calls your son in San Diego and informs him you have died.
The son Bob comes down to MX (insert where you live) and wants to take over your possessions, including your home and valuable vehicles.
You have previously informed your son Bob that he is listed as a beneficiary to your home ownership document (fidicamiso) and all he need do is prove
that is he is in fact, Bob.
If Bob so wishes, he can have the notario re-write the fidicamiso showing Bob as the new sole trustee.
Unless then Bob wishes to insert his new beneficiary.
Now Bob is free to sell, rent, bulldoze or whatever to his parents home.
If Bob is also listed as a co-owner to any vehicles, he simply proves that he is Bob and is in fact a listed owner on an ownership document.. Bob is
then free to remove the vehicles if he so chooses...because he is in fact, an owner.
[Edited on 3-4-2012 by DaliDali]
[Edited on 3-4-2012 by DaliDali]
|
|
|
DaliDali
Super Nomad
Posts: 1132
Registered: 4-21-2010
Location: BCS
Member Is Offline
|
|
| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by DaliDali
a certified legal document, administered by a Mexican bank. |
Now....there's an institution of iron clad promises.
How many times have they expropriated dollar accounts and been federalized to cover the loses of an irresponsible government?
I don't care who you place your trust in. My choice would be to hedge my bet and buy the will. |
Far be it from me to advise you how to spend your money.
I am only relaying what a MX attorney told me regarding fidicamisos and beneficiaries.
In fact, I suggest you consult with a MX attorney and get the scoop direct from the horses mouth.
If your told you need a MX will, by all means do it.
[Edited on 3-4-2012 by DaliDali]
|
|
|
DaliDali
Super Nomad
Posts: 1132
Registered: 4-21-2010
Location: BCS
Member Is Offline
|
|
| Quote: | Originally posted by DENNIS
By the way....banks have been known to withdraw Fideicomisos. It happened out at Punta Banda during the expropriation. |
And American banks have gone teets up....so what is your point?
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by DaliDali
And American banks have gone teets up....so what is your point? |
My point?? I think this statement of trust in a Mexican bank makes it your point:
| Quote: |
Originally posted by DaliDali
a certified legal document, administered by a Mexican bank.
|
|
|
|
DaliDali
Super Nomad
Posts: 1132
Registered: 4-21-2010
Location: BCS
Member Is Offline
|
|
| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by DaliDali
a certified legal document, administered by a Mexican bank. |
Now....there's an institution of iron clad promises.
How many times have they expropriated dollar accounts and been federalized to cover the loses of an irresponsible government?
I don't care who you place your trust in. My choice would be to hedge my bet and buy the will. |
If your trust level of MX banking institutions is so low, how do you then square with a MX will being the savior of all your worldly possessions?
Is a MX will somehow more "secure" than a international banking institution?
[Edited on 3-4-2012 by DaliDali]
|
|
|
| Pages:
1
2 |
![[*]](images/xmbforum/default_icon.gif){kind=icon}
