From Martine Heyer of Boquete

First – I am not a lawyer, hoever, if you have no assets in this country, do not worry.

If you have assets here of more than 30K  or  50K  or more  

(assets being bank accounts, land or properties or other things you think are valuable – except for your car) you need a Fundacion.

A Foundation this is equal to a trust in the USA and Canada, so go see your lawyer and get one.

A Foundation is the only the only thing that does not have to go through probate in Panama. A fundacion acts as your will without probate.

You need to put everything you own into the trust  – except your car, as a can create liability – you don’t want that in your trust.

Assets in other countries need whatever that other country requires IE: a will, etc, but those too get probated if you leave over a certain amount.

A fundacion will cost you $400 mininum a year, more likely with lawyers fees – $750 or so a year.

You are in Panama, so protect yourself the Panamanian way.

Even if it is $750  year – over 10 years that is only $7,500, way less than one fourth (1/4) of your estate which is what it will cost you if you don’t have a Foundation.

Everything:  a will, a corporation, etc has to go through probate in Panama which is a minimum timeframe 4 years, frequently 8 years

Cost is a minimum of 15% for the executor (must be a Panamanian) plus fees so you lose 25% of your asset. Plus six to eight (6- 8) years out of the life of your heirs.

So get a foundation and make sure it is funded with all your assets except for your cars.

item 2

just because you gave immigration a apostilled marriage license from where ever to saying you are married, does not mean the Tribunal Electoral has it, knows it, acknowledges it or whatever. all folks with E cedulas are deemed single by the TE unless they actually got married in this country. even if they said we are married, even if the carry the same last name.

to get your marrigage registered with the TE

Apostilles valid for 90 days only.

you guys live close to Panama city so get new apostille,

take to TE have them check it out and go again10 days later to get marriage certificate. that is too costly for us distant folks,.

or get remarried for the cost of $50 medical tests and then free by the TE they will come out and do it for free.

if you are a putz and do not have a birth certificate, and are slow to get a E cedula then get married by Notary for more money.

Courtesy of RetirementDetectives