Estate Planning in Mexico

Transcription

1 Estate Planning in Mexico How Foreign Residents Can Protect their Interests and their Assets By Murry E. Page

2 Estate Planning in Mexico How Foreign Residents Can Protect their Interests and their Assets By Murry E. Page

3 Estate Planning in Mexico How Foreign Residents Can Protect their Interests and their Assets Copyright 2014, 2015, 2016 by Murry E Page Cover Image from BigStockPhoto, used under License All rights reserved. No part of this book may be reproduced in any form or by any electronic or mechanical means including information storage and retrieval systems, without permission in writing from the author. The only exception is by a reviewer, who may quote short excerpts in a review. Author: Murry E. Page Publisher: Murry E. Page First Published: March 2014 First ebook Edition: June 2015 This Mexperience ebook Edition: January 2016, is marketed and distributed by Mexperience.com under license from Murray E. Page. Acknowledgements I am indebted to Wendy Hardouin, the Canadian Consular Agent in Mazatlán, Luis Ramírez, the United States Consular Agent in Mazatlán, and Lic. Jorge Buenrostro for their assistance. Their input was invaluable. Disclaimer This guide has been published for general guidance and information. The author has endeavored to ensure that the information contained in this guide is accurate and up-todate, however; laws and situations change, often with little or no notice. You should take professional advice before entering into any contract or formal agreement. This guide does not constitute personal, legal, professional, or financial advice to its readers.

4 Table of Contents Preface... 5 Introduction Getting Your Affairs in Order... 8 The Role of the Notary Public in Mexico Gathering the Information You Need...10 Letter of Instruction...10 Organ Donations Directive to Physicians / Living Will...12 Health Care Directives...12 Keeping Your Mexican Doctor Informed Powers of Attorney...14 Medical Power of Attorney...14 General Power of Attorney...14 Durable and Springing Power of Attorney Death in Mexico: Protocols and Procedures...16 Remains...16 Time Scales...16 Death Certificates...16 Registering Next-of-Kin Next-of-Kin Mexico s Laws of Descent and Distribution Common Law Marriage...22 Concubinato Status in Mexico...22 Validating Your Concubinato Status...23 Same Sex Couples...23

5 9 Ownership of Property...25 Bank Accounts Should You Have a Mexican Will?...26 How Mexican Law Interprets Wills...26 The Role of Your Home Country s Consulate Where Will the Estate be Probated?...28 Where Are You Legal Domiciled?...28 Determining Legal Domicile...28 Appendix No. 1: Organize and List Your Important Information...30 Appendix No. 2: Letter of Instructions...36 Appendix No. 3: Mexican Organ and Tissue Donor Card...40 Appendix No. 4: Sample Directive to Physicians...41 Appendix No. 5: Medical Power of Attorney, Designation of Health Care Agent...44 Appendix No. 6: Durable Springing Power of Attorney...50 Appendix No. 7: Form for Report of Death of US Citizen Abroad...56 Appendix No. 8: Form for Affidavit for Surviving Spouse / Next of Kin...57 About the Author: Murry Page...58

6 Introduction How will my estate and loved ones be affected when I die in Mexico? It s a simple question with complex answers, and taking the time to consider your present circumstances and plan for your passing in Mexico will ensure that your loved ones will not be left dealing with complex legal matters, and that your assets and other interests are dealt with according to your wishes when you die. This guide offers key information and a road map that will help foreign residents living in Mexico to plan their affairs and put their house in good order so that their wishes have legal force when they die. As noted by the author a qualified lawyer from the United States Mexico s legal system is markedly different from places such as the U.S., Canada, and other European countries, hence the importance for foreigners living in Mexico to acquaint themselves with local laws and customs, and prepare accordingly. This guide will help you to confront a number of essential matters which, in turn, will help you to plan your estate in Mexico, for example: Will you need a Mexican will, even if you have one drawn up in another country? What other documents should you prepare and sign? What will happen to any property you may have acquired in Mexico? Have you considered appointing an attorney-in-fact, and what options are available? How does your legal residence status affect your estate when you die? What is the role of your country s consulate, and how will your next-of-kin be notified? These are just some of the questions this guide addresses and which will serve as a basis for important conversations with your own lawyer and local Notary Public. Estate Planning in Mexico Page 6

7 This guide intends to stimulate thought-trains that you need to set in motion to begin to get your affairs in order; it will also help you to consider how any existing intentions you have legalized abroad will be affected by you living in Mexico, and what steps you may have to consider to ensure that your wishes are legally enforceable under Mexican law. You ll find this guide is filled with lots of practical advice, check-lists, and sets of relevant forms like a sample directive to physicians, letter of instructions, and organ donation forms which are prepared to help you get your thoughts together and your affairs properly organized. A remarkable number of foreigners living in Mexico have never considered the implications on their loved ones and their estate if they die in Mexico, and of those that have, many have applied the very-mexican manaña principle to addressing the matter. There is no better time to start planning for the inevitable than right now, and by taking action today your loved ones will be grateful and your interests will be better served. This guide is intended to be a catalyst and a road map to help you plan your estate in Mexico. Estate Planning in Mexico Page 7

8 1 Getting Your Affairs in Order A majority of foreign nationals living in Mexico have well thought-out wills and trusts that they created in their home country. They carefully reviewed their assets with an estate attorney and had the necessary documents prepared to dispose of those assets upon their death in a manner of their choosing. Although probably not verbalized, their assumption, and the assumption upon which those documents were prepared, was that their death would occur at home. Fast forward to today and now Mexico is their home at least for a part of each year. With that in mind, if a foreign national spends three or four months out of the year in Mexico, pure statistics say when he dies there is a chance of that happening in Mexico. The more months the foreign national is in Mexico each year, those odds just increase. It seems, therefore, not only logical, but wise, for foreign nationals living in Mexico to plan for the inevitable, taking into consideration it just may occur in Mexico. The information provided in this book is not legal advice. Its purpose is to raise fact situations that may apply to the reader or someone he or she knows; discuss how those facts may dictate a course of action that may not be of the person s choosing; suggest some planning ideas a foreign national may want to consider; initiate discussions and raise questions. Since Mexican states do not all have the same laws, your questions should be answered by a local attorney or Notary Public. Just as foreign nationals have done in their home country, in Mexico they would like to dictate the level of medical care during their last illness, should that occur in Mexico; address issues that may arise during their last days on earth; and be sure that their assets in Mexico pass in the way they want. And, just as importantly, those foreign nationals want their surviving loved ones to go through the least amount of consternation and anxiety as possible, as they are left with the chore of settling their estate. For those who have had a loved one predecease them, they know the myriad of information that must be gathered and the decisions that must be made within a Estate Planning in Mexico Page 8

9 About the Author: Murry Page Murry Page practiced law for almost 30 years before retiring and making Mazatlán his home in Murry has taught English as a Second Language and volunteered for several nonprofit organizations, as well as the city's Community Theater. Murry also writes daily news articles for the online English newspaper Mazatlán Messenger and writes a semi-monthly column for the newspaper, The Page Turner. All of his writings have the purpose of providing foreign nationals living in Mexico with information that will make their life here more interesting and meaningful. Estate Planning in Mexico Page 58

10 Thank You for Previewing: Estate Planning in Mexico Click here to purchase the complete version on Mexperience.com