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PostPosted: Sun Sep 17, 2017 6:30 am 
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Joined: Mon Aug 13, 2012 5:23 pm
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I have just received an e mail from a solicitor telling me I must make a new will stating if I want it executed under CYPRUS or UK law.
My husband and I have our wills deposited at the courts.
I think this might be a ploy to get us to make new wills.....but I am not prepared to,spend any more money with Cypriot solicitors. Is my assumption correct? Does anyone know if I can just add a code de cil ill to my existing will stating I wish it to be executed under UK law? Would love to hear comments from other members of this forum.


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PostPosted: Sun Sep 17, 2017 6:58 am 
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Joined: Wed Oct 06, 2010 3:11 pm
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Location: Chlorakas/Kissonerga
I have assets in both countries so have wills in both, however there is a copy of each other deposited in the other country if that makes sense!

Certainly sounds like a ploy to get more money to me as even though Cypriot Law is based on English Law hardly any lawyers here are registered with the UK Law Society so wouldn't be able to action this - I can only think of 1 in Paphos who could!

:grin:


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PostPosted: Sun Sep 17, 2017 10:16 am 
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Joined: Sun May 15, 2011 8:17 pm
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Location: Take a wild guess :)
The Cyprus law regarding inheritance and wills has been changed in the last couple of years.

As I understand it, under Cypriot law if the Will has not been rewritten to be read in accordance with UK inheritance law, the Cypriot inheritance laws come into play. Which may well mean that if you own something jointly, then on the death of one owner, the surviving owner does not necessarily automatically own the whole thing. Under Cypriot law, the half of the property (or whatever) may well become owned jointly by siblings or children of the deceased. This may not matter to you at all, but if you want your other half to own the whole house/vehicle/whatever after your death, then you will need to amend your Cyprus will.

I know of one couple over here, he died and his share of the house went to his children, not to her. So she now has to sell their house because his children don't want to own half a house in Cyprus, they want the funds instead.

We wrote and lodged new wills, others have written codicils to their existing wills. The choice is yours.

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PostPosted: Sat Sep 23, 2017 7:06 pm 
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Joined: Tue Mar 15, 2016 9:33 pm
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Until July 2015, the law on Wills in Cyprus for UK nationals who owned assets in Cyprus was identical to the law on Wills in England & Wales. This enabled them to distribute their Cypriot assets though their Will without any restrictions or limitations.
This situation changed in July 2015 when the law on Wills in Cyprus was changed so that anyone who dies after this date, (irrespective of if, or when, they made a Will) and who has left assets in Cyprus is obliged to distribute a share of their estate to their spouse and/or their children, if they have any. For anyone who is married, their spouse will now not inherit all of their estate as the children of the deceased will also inherit a share. For anyone who has step children, they will now not be able to inherit a share of the whole estate, even if the estate is made up of assets left to their step parent by their natural parent. For anyone who wants to prevent a spouse or a child from inheriting some or all of their estate, the new change in law poses a significant problem because these people are now automatically entitled to a share of a Cypriot estate.
Fortunately there is an option for people to opt out of the Cyprus rules on estate distribution and to elect for their Cypriot assets to be distributed according to the law of their nationality. So UK nationals can elect for the laws of England and Wales, which place no restrictions or limitations on estate distributions, to apply to the distribution of their Cypriot estate. This election must be made in a Will or a Codicil, a document which updates but doesn't replace an earlier Will.


http://www.willpower.co.uk/services-2/cypriot-wills

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PostPosted: Sat Sep 23, 2017 7:15 pm 
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Joined: Mon Oct 31, 2011 6:03 pm
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Location: Pegeia
Can they opt to have the will being under Scottish law?


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