La Ronda is just around the corner

Monday, January 20, 2014

Ecuador Expat Forum - Living wills, 5 wishes. Part two. Quito, Ecuador. January 2014.

Answer #2. Contributor http://www.theoceanhideaway.net/
I glanced over the WIKI for 5 Wishes here
http://en.wikipedia.org/wiki/Five_Wishes
which gives a very good run down of what it is.
It is a new concept to me -- probate was not my field, I left that to my step sister who literally wrote the book on probate law.
The crucial issues however are that the statements are properly witnessed -- usually two witnesses of legal age who's signatures are notarized is acceptable who can state that you are of sound mind and not forced to agree to the statements made.
The other crucial matter is that the intent of your wishes is clear. So be clear -- name names, be specific "the golf Jerry & I used on the Blue course at Doral in August of 85 when the alligator ate my favorite ball' -- would make things clear and lighten the mood a bit ...
and of course, in Spanish in Ecuador.

Answer #3. Documentation is not that simple in Ecuador. In October and November, I spent weeks taking care of my documents for property, will, and power of attorney. First, I do own property, and had the deed/title, but had never registered the property and paid the taxes. I learned that by not registering the property and paying the taxes, that if I died, the title to my property would revert back to the former owner, or who last registered the property and paid the taxes. The title can be recovered, but it would have been a lengthy process.
I had to pay taxes in the local canton, and there was 3 different charges involved.
The power of attorney required an attorney to draft the document, so I found a very reputable bilingual attorney in Quito, who was referred to me. This required a minor fee, plus notary, which is not simple.
Then the will to be registered in Ecuador was more complex. The writing of the will was fairly simple as I simply took my will from the US, translated, and made more simple. This required several trips to the attorney and several to the notary.
I feel that I have done all due process in the event of my death or disability, or to sell my property when the value doubles.

Part one
http://dayinquito.blogspot.com/2014/01/ecuador-expat-forum-living-wills-5.html


Monthly rental in Quito, for tourists and expats.
We have a 2 bedroom, 1 bath totally remodeled
Colonial Quito, furnished apartment for rent.
For booking, pictures and more info
Rental in Quito, for tourists and expats.
3 bedroom, 1 bath remodeled
Colonial Quito, furnished apartment for rent.
For booking, pictures and more info