Wills in Cyprus.

[MAE68]

Re signing property over to children - surely if the property is no longer in your name when you die it will no longer belong to your estate so no probate around the property will be required? One reason we are looking at this is to reduce possible IHT in uk ( providing one of us lives another 7 years). Of course it means the children will eventually have to sort out selling the property if that’s what they want to do.

[trevnhil]

Yes, you can certainly give the share or shares of the property to your children before you die. It would be wise to have a legal document to show that you are allowed to live in it until you die or wish to vacate your child's property

[WHL]

Doesn't cyprus law say your children get an automatic share of your property/ goods, irrespective of what you might have said in your will?.

[MAE68]

Yes they do unless you have specified that you wish to have the English law applied to your estate in Cyprus in your Cypriot will. We are trying to think of the simplest approach for us given that we don’t wish to sell our villa, we are not resident in Cyprus but make frequent visits. And the value of the villa would push us into the higher bracket for IHT in uk. Probably a trust might be the answer but not sure how that works in Cyprus. We have a fairly straightforward will as only two grown up kids who do also enjoy use of villa!

[Uncle D]

I really can't believe that some people have left it till their 80s to make a will

[trevnhil]

I am a beneficiary of the estate of a distant cousin.. He did not make a will, so his money is being used up in trying to trace all his relatives.. So a lot of his money is paying the Lawyers.. I am pretty sure he would have been in his 80's or 90's

[WHL]

There is a similar thread running on the Eastern forum right now, i have copied and pasted one of the replys, which will help people on this forum, ( i hope that is ok or otherwise please remove it)

In the process of doing wills right now… I hold UK and Cypriot passports/ Citizenship.
Speaking with the Cypriot lawyers that specialise here in wills, the ‘you can choose which country to have your will under’, only applies in you spend more time in the UK than Cyprus and it is you main residence. If you live the majority of your year in Cyprus, the forced heirship law applies. The lawyers I’m using, (based in Limassol), have categorically confirmed that is the case. The Cyprus courts will award under the forced heirship law for both moveable and immovable assets irrespective of what will you have in place, IF you spend more than half your year in Cyprus or it can be proved this is your main residence

[clive of payia]

Others tell you if your will clearly states that probate is to be settled under UK, (or indeed another countries), law that is how it is done. If permanent residency meant forced heirship, there wouldn't be any Re-sealing of UK wills in Cyprus by expats out here, yet you see notices in the Cyprus Mail regularly reporting Resealing. I'm not a lawyer.

Now, if there has been a change in the law, us Brits should get UK wills and have them resealed in Cyprus if we want UK probate to apply. Just my thoughts.

[clive of payia]

Thanks for that Trev.