One of the biggest lessons that the coronavirus pandemic has taught us is to keep our affairs in order and prepare for the unexpected as few people would have predicted the sudden rise and devastating fatal effect of the pandemic on so many people including many younger individuals.
The vast majority of people wish to protect their immediate family and closest relatives from inconvenience or financial difficulties when they die. However many people put off making a will believing that their younger age gives them plenty of time to organise such things in the future. The pandemic has shown us that this is mistaken. It is particularly important to for people with assets in more than one country, as the laws of succession vary quite considerably.
If you have properties in Italy, Spain or Portugal Giambrone's highly regarded inheritance lawyers point out that by simply making a will under the jurisdiction of the country where you own a property you could considerably reduce the chances of confusion regarding your desired beneficiaries, leading to complex legal issues. This is particularly relevant if there is a challenge to the disposal of your estate.
Giambrone has experienced inheritance and probate teams in Italy, Spain and Portugal who emphasise that in certain circumstances the deceased's assets in a European country could be disposed of in accordance with the set laws of succession governing the country in question, where there are defined proportions of the overall inheritance granted to particular relatives, such as sisters and brothers of the deceased with no provision for unmarried partners, step-children or friends that you may wish to provide for.
There are many examples of individuals in the public eye with significant estates who fail to make or keep an existing will up-to-date who subsequently died intestate resulting in extensive legal cases. Pablo Picasso, despite being aged 91 years at the time of his death, had not thought to draft a will. He left behind a considerable fortune including properties, bonds, gold and of course artwork. It took six years and $30 million to finally settle his estate. The most recent intestate death, that of Diego Maradona, the renowned Argentinian footballer, is also a case in point, he left behind a complex financial legacy compounded by an equally complex personal life which almost certainly will result in a series of protracted legal cases with opportunistic claims of paternity.
Even if a will is drafted it must be kept current or an ex-spouse or estranged relative may be the recipient of your estate instead of the individuals you now wish to benefit. Or worse still, there will be a prolonged and acrimonious legal battle that reduces the estate to nothing.
If you have European fixed assets Giambrone's inheritance and probate teams across Europe can advise and guide you as to how you can ensure that only your intended beneficiaries will benefit, also, if you have a complex situation, they will be able to ensure that there will be no unwelcome attempts to challenge your wishes. Our lawyers will protect your entire legacy with a cast iron resilient will.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
