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DigYourself

Jun 10, 2015, 1:06 PM

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Mexican will / Mexican and us assets

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We own a house in mexico and last sept visited a notary and drew up Mexican wills. That takes care of the house and Mexican accounts. Today I was told by our Schwab rep that our accounts are joint and we each succeed each other but we could not have a contingency beneficiary.

Will the person who handles our Mexican will be able to pull assets from the us to mexico - or - should we have mentioned us charities in our Mexican will. I'll probably contact the us charity as well. Thanks



Maesonna

Jun 11, 2015, 3:18 PM

Post #2 of 4 (4515 views)

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Re: [cuerna1] Mexican will / Mexican and us assets

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We were told that we should have a will in each country where we have assets, with each will only covering the assets in the corresponding country. If that information is accurate, you should have a separate U.S. will covering your assets there (and probably a U.S. executor), while your Mexican will only covers your assets and property in Mexico.


DigYourself

Jun 11, 2015, 3:52 PM

Post #3 of 4 (4510 views)

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Re: [Maesonna] Mexican will / Mexican and us assets

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Are you American or Canadian ?

We had wills in the US and when we wrote the Mexican wills we mentioned that the US wills are now void - for one thing we wanted (only) a Mexican executor. At that time we were told that anything mentioned in the Mexican will would trump 'anything' and if some asset was not mentioned in the Mexican will then a beneficiary specification would apply. Which is what we believed until the Schwab guy said otherwise this week.

The Mexican will was easy enough (and very affordable) but I would hate to inconvenience our friends (again) with a half day visit to the notary - if that would be required to make a change.

Here is an interesting article I came across earlier
http://www.morganmcmanus.com/...rderWillsEstates.pdf


(This post was edited by cuerna1 on Jun 11, 2015, 3:59 PM)


Maesonna

Jun 11, 2015, 4:47 PM

Post #4 of 4 (4496 views)

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Re: [cuerna1] Mexican will / Mexican and us assets

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Canadian so that might make a difference.
 
 
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