Exclusive to A.M. Costa Rica
Expats and Costa Ricans alike are dumping their companies that hold property and other assets because they feel they will save money in the long run by putting the asset in an individual’s name. Granted keeping a company costs money, but it is cheap compared to what probate costs when someone dies. Everyone should know the facts about death and transferring assets in Costa Rica.
Many attorneys promote the business of closing companies because to do so is a handsome fee for them. What they do not explain to their clients is probate in Costa Rica is costly, much more expensive than keeping a company holding assets up to date.
Here are the facts: [Continue reading]