Wills & Probates
A will can be really important if you want to make sure that your wish will be met after you pass on.
It is important that the will meets some requirements which will be explored straight forward to you. Probate and estate administration work is often a complex and difficult procedure. Our office offers a full service ou probates procedures which includes the probate application the appoint
Cypriot Legislation regarding Wills in Cyprus
- Definition of a will under the Cypriot Law
The Cypriot law governed the regulations and procedures in regard to the correct execution of wills is mainly governed by the Wills and Succession Law, (Cap. 195) as amended. As provided by the current law a "will" means the written statement and/or legal declaration in writing in accordance with the will of the testator’s intentions regarding the disposal of his movable and/or immovable property after his death including a codicil.
- Capacity of drafting a will
As provided by Article 22 no will drawn up by a person in case is not of age and/or has not completed the eighteenth year. In such cases the will is not valid, and has no legal effect.
- Requirements of a will
Moreover, as provided by Article 23 of the Wills and Succession Law (Cap. 195) a will shall be considered as valid unless
- It is in writing
- Is signed at the bottom or at the end by the testator or by someone else who acts for the testator in the presence of him
- The signature or countersigned is placed by the testator in the presence of two witnesses present at the same time
- These witnesses will be responsible to confirm and countersign the will in the presence of the testator and in the presence of each other
It must note that, in case the will consists of more than one sheet of paper, each sheet is signed or transcribed by or for the account of the testator and the witnesses.
- Formalities of making a Will
In accordance with Article 24 of the Wills and Succession Law, (Cap. 195) for a will to be valid, needs two persons as a witness who must be of sound mind and completed at least the eighteenth year of their age and they can sign their signatures.
- Appointment of Executor
The executor will be responsible to file the estate administration at the relevant District Court and request a grant of probate (a court order) which will allow him to act in the name of the estate and distribute the assets according to the directions as mentioned in the will. The executor can be an individual, a trusted family member or your lawyer as they have legal knowledge and experience in managing inheritances and distributing assets.
- Disposable Portion of the Estate/Assets
The disposable portion of the estates is the part of the moveable and immovable property of a person which ha can dispose of freely by his will. Specifically, as provided by Article 44 of the Law, where a person dies leaving a spouse and/or a child or no spouse but a child the disposable portion of the estate will not exceed ¼ of the net value of the estate.
In case where, the deceased leaves neither spouse nor child nor a father nor mother according to the law the disposable portion extends to ½ of the net value of hid estate.
- Can a will be revoked?
By virtue of Article 37 of the Cypriot Legislation, a will can be revoked:
- In case where a later will expressly invokes the earlier
- With a later will incompatible with the provisions of the earlier one, but only to the extent that the provisions of the two wills are incompatible or
- By burning and/or tearing and/or destroying it by the testators or by any other person in the presence and by order of him with the intention of revoking such a will.
- Procedure in the absence of a will?
Article 7 of the Cypriot law provides that in the absence of a will, the estate will be distributed under hierarchical order of capacity based on the degree of relation that the deceased had. The first class of legal heirs provided by the Cypriot legislation is the spouse husband and/or wife and the children who will each inherit an equal share of the estate of the deceased.
For more details as to how we can help you and legal advice please contact us.
The above information is not intended to be used as legal advice and is merely an example to better understand the legal position of the reader. If you need legal advice please contact us today.