Wills and Succession Lawyers in Cyprus
Property is one of the most important and inviolable human rights, since ancient times and the most common reason why people went to war, to seize the property of foreign nations. In modern society, property is not protected by swords and blood. Instead there are fundamental laws that protect the property rights of every person and that what Wills and Succession Law aims to ensure by drafting will document with an experienced Attorney.
The European Convention on Human Rights (ECHR) in Article 1 of the First Additional Protocol refers to the Protection of Property as follows: “No one may be deprived of his property except for reasons of public benefit and under the provisions, under the law and the general principles of terms of international law”.
Also, the Constitution of the Republic of Cyprus, in Article 23 states that every citizen has the right to acquire, own, possess, enjoy or dispose of any movable or immovable property and is entitled to demand respect for his right.
Since these rights are protected, it is equally important to protect the property of the person even after his death. Every person during his life works hard to acquire some assets, which is important to protect the will for the future ownership of these assets.
This must be done while the person is still in good health and especially his mental capacity, to decide about his successor / heirs, based on his free will and without confusion in his mind or any form of mental pressure,
Therefore, in order for someone to be sure that his posthumous wishes regarding the distribution of his property will be respected and implemented to the letter, it is important to draw up the document called a WILL and it is drawn up by a LAWYER of his choice and preferably a Lawyer who has no personal relationship with other family members or potential heirs.
After the death of the testator, the Lawyer undertakes the distribution of the property listed in the Will, to the predetermined successors. Otherwise, if there is no Will or the Will is Invalid (due to an error, it is a common phenomenon when wills are drawn up by inexperienced lawyers and unauthorized persons), the property will be distributed as the Law prescribes and not according to the wishes of the deceased.
The main Law in Cyprus that governs Wills is the Wills and Succession Law (Chapter 195) which regulates cases of property distribution where the deceased did not have a valid Will and the Law determines who the legal successors are and the shares of property they are entitled to .
Formalities necessary for a valid Will document
For a Cyprus Will to be considered valid, it must be written and executed in a specific manner. The testator or someone authorized by the testator in their presence and by their instruction must sign it at the bottom or end.
Additionally, the testator must sign or acknowledge the signature in the presence of two or more witnesses who are present at the same time. These witnesses must attest and countersign the Will while in the presence of each other and the testator. Each sheet of the Will must also be signed or initialed by the testator or on their behalf, as well as the witnesses.
It’s important to note that the witnesses must be of sound mind, over 18 years old, and capable of signing their names. Otherwise if Formalities are not present, the validity of the will can be challenged.
Consequences of not leaving a valid Will
When a person passes away without leaving a valid will, it is known as dying intestate. In such cases, the laws of inheritance in Cyprus and forced heirship rule come into play, and they determine how the assets of the deceased will be distributed. The forced heirship rule is applicable to the estate of persons domiciled in Cyprus, regardless of their nationality. When a person dies intestate, the court will appoint an administrator who will be responsible for managing the assets of the deceased.
The distribution of the assets will be made to the rightful heirs as per the laws of inheritance. However, the distribution may not align with the wishes of the deceased or the needs of the beneficiaries. In Cyprus, the surviving spouse and children are given the largest share of the estate.
The order of inheritance for a surviving spouse and children is defined in the laws of inheritance. The distribution of assets is governed only for properties located in Cyprus. If the deceased has assets located in other countries, the laws of those countries will govern the distribution of those assets.
Appointing the Executor of the Will in Cyprus
As mentioned above, the Testator appoints an Executor of the Will, who is usually the Lawyer who drafts the Will. The Executor or Administrator of the Will, however, is controlled by the Court to ensure the correct, fair and literal execution of the Will.
After the Testator’s death, the Executor of the Will applies to the District Court to secure a Court Order allowing him to distribute the assets, in accordance with the content of the Will.
However, if there is no Will at the time of the Testator’s death, then under the Legislation, a decision will have to be made by the Legal Successors to appoint an Administrator of the Will, who will again need to apply to the District Court to validate the Will.
Looking for a Lawyers, with excellent knowledge of Wills and Succession Law?
Our Law Office and its partners provide comprehensive services in all matters related to Inheritance Law legislation. Some of the services you may be interested in are:
- Drafting of a Will document (with witnesses from our office).
- Validation of the Will.
- Keeping the Will in a safe place until it is executed.
- Management of the property of the deceased in Cyprus and abroad.
- Providing advice regarding inheritance rights and legislation.
- Representation before the Court.
- Challenging a Will that deprives you of inheritance rights.
- Provision of executor and estate administrator services.
WILLS ARE IMPORTANT
Preparing a will is the simplest way to guarantee your belongings will be distributed to your loved ones according to your wishes.