Clause 42!

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wendylou 1
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Joined: 17 Sep 2015 18:33

Clause 42!

Post by wendylou 1 » 17 Sep 2015 18:56

Hello, I'm finding it difficult to understand clearly, how we stand with the 'forced heirship' rule in a Cypriot Will. Is there a specific date that this came into force? If so, could we have added the codicil at any time up to that date? In other words, if you had died before this became the new law, does the will stand?Many thanks in anticipation.



Nigel Howarth
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Re: Clause 42!

Post by Nigel Howarth » 17 Sep 2015 19:28

Hi wendylou

Due to pressure of work, Louise rarely gets time to visit the forum.

The forced heirship rule has been in place forever. But because you are a British Citizen it did not apply to you as there was concession in the law that allowed people who/or whose fathers were born in the UK or in a Commonwealth country that enabled them to Will their estate to whoever they wished on their death.

But the law was changed recently and the concession was removed. If you do NOT make a codicil to your Will stating that you want your estate to be governed by UK Law, your estate will be disposed of according to the laws of Cyprus, which include this forced heirship.

Your ability to chose your Domicile of origin (UK) or your Domicile of habitual residence (Cyprus if you live here permanently) - i.e. under which country's law you wish your estate to be administered results from an EU regulation (650/2012) that came into force on 17th August.

Under Cyprus' forced heirship rules The estate will be divided into two sections:

the disposable section; and

the compulsory section

The disposable section is the amount that can be passed by Will. This will be between a quarter and a half of the estate if there are certain surviving relations still alive (the exact proportion depends on which relatives are still alive at the time of death). Under the Cyprus rules if a person dies leaving no spouse, no child, no descendant of a child, no mother and no father then they can pass the whole of their estate by Will.

The compulsory section will pass according to the forced heirship rules. Once again the exact division of the estate depends on who the surviving relations are.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news

wendylou 1
Posts: 3
Joined: 17 Sep 2015 18:33

Re: Clause 42!

Post by wendylou 1 » 19 Sep 2015 16:26

Hi Nigel, many thanks for your prompt reply. You mentioned that this law came into force on 17th August 2015. So if someone died BEFORE that date, will the old will stand? Or is it when the will is actually executed? Thanks in anticipation. Wendylou.



Nigel Howarth
Site Admin
Posts: 2499
Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
Contact:

Re: Clause 42!

Post by Nigel Howarth » 20 Sep 2015 09:44

Hi wendylou

If someone died before the law was changed and they or their father was born in the UK or in a Commonwealth country, they could Will their estate to whoever they wished. (I.e they benefited from the concession.)

If someone (an EU citizen) dies after the law was changed, they need to add a codicil to their existing Will otherwise the Cyprus forced heirship rules will apply to the disposal of their estate.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news


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