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Debra Howard

Sep 27, 2002, 5:46 AM

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Estate planning with a property in Mexico

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Hello!We have recently purchased a lot in Puerto Aventuras, Mexico, and are in the
design stage. Has anyone information on Estate taxes in Mexico and how the fidecamiso
passes into the estate?
Are there estate or death taxes?
How heavy are they?Thanks for any help.
Debra Howard
703 734-2364
and
DMH154@aol.com

Ernie Gorrie

Sep 27, 2002, 11:47 AM

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Estate planning with a property in Mexico

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When we purchased our property in a fideicomiso, our lawyer advised us to designate a "secondary beneficiary" in the fideicomiso itself. He explained that the secondary beneficiary has rights only if the primary beneficiary (or primary joint beneficiaries) are deceased.He said that this avoids the need for probating of the fideicomiso as the secondary beneficiary becomes the beneficiary of the fideicomiso upon the death of the primary beneficiary.Of course, in an abundance of caution, we did a specific designation of the fideicomiso property in our will in Canada to the same person.

Ron

Sep 27, 2002, 9:38 PM

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Estate planning with a property in Mexico

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: When we purchased our property in a fideicomiso, our lawyer advised us to designate a "secondary beneficiary" in the fideicomiso itself. He explained that the secondary beneficiary has rights only if the primary beneficiary (or primary joint beneficiaries) are deceased.: He said that this avoids the need for probating of the fideicomiso as the secondary beneficiary becomes the beneficiary of the fideicomiso upon the death of the primary beneficiary.: Of course, in an abundance of caution, we did a specific designation of the fideicomiso property in our will in Canada to the same person.
Your will in Canada only has standing in Canada.
If you want to be really careful get a Mexican will as well.

Gina

Sep 28, 2002, 2:50 PM

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Mexican Will

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We were also advised to prepare a Mexican will in addition to our U.S. wills when we purchased our property. RON: would you recommend the attorney who prepared your will? Do you know about how much this costs? Thanks!