Estate Planning in Costa Rica: The Will

Creating a Will is not just for the elderly or the wealthy; in Costa Rica, any adult of sound mind should draft a Will to ensure their assets are distributed according to their wishes. In this post, we will explain what a Will is, outline the common types available in Costa Rica, and discuss when it might be the right tool to include in your estate plan.

What Is a Will?

A Will is a legal document in which a person (the testator) expresses their wishes regarding the distribution of their property, rights, and obligations after death. It can also include essential decisions like naming guardians for minor children or recognizing children. To be valid and enforceable in Costa Rica, the Will must comply with specific legal requirements established by law.

Types of Wills in Costa Rica

• Open Will: This is the most widely used type. It is made before a Costa Rican Notary Public, who drafts the document according to the testator’s instructions. It is then recorded in the Notary’s official book, making it more secure and legally reliable.
• Closed Will: In this case, the testator writes their wishes in private, seals the document, and delivers it to a Costa Rican Notary Public in the presence of witnesses. The Notary certifies the existence of the sealed Will, but its contents remain confidential until it is formally opened by a judge after the testator’s death.

Requirements for a Valid Will
To be legally valid under Costa Rican law, a Will must meet the following requirements:

• The testator must be at least 18 years old or legally emancipated
• The testator must be of sound mind
• The Will must be made voluntarily and without coercion
• The contents must comply with Costa Rican law, including formal requirements based on the type of Will executed

Why Make a Will?

• Prevent Family Disputes: A well-drafted Will can help avoid misunderstandings or conflicts among family members after your passing. By clearly stating your intentions, you minimize the risk of legal battles, resentment, or confusion about how your assets should be divided.

• Ensure Your Assets Are Distributed According to Your Wishes: Without a Will, your estate will be distributed according to default legal rules, which may not align with your personal preferences. A Will allows you to decide exactly who receives what—whether it’s property, money, heirlooms, or other possessions.

• Protect Specific Individuals: Costa Rican inheritance law prioritizes certain family members, which may exclude others who are important to you. A Will ensures that non-traditional beneficiaries—like a long-term partner you never married, stepchildren, or close friends—can receive the support or inheritance you intend for them.

• A Vital Tool for Estate Planning: A Will is a key component of any broader estate plan. It not only addresses asset distribution but can also include naming guardians, setting up trusts, or appointing an executor to manage your estate efficiently and in line with your values and priorities.

Disclaimer: The information provided in this blog post is for general informational purposes only and is not intended to constitute legal advice. While we strive to ensure the accuracy and timeliness of the content, laws and regulations are subject to change. For the most accurate and up-to-date information, please contact our office directly. Some images may be AI generated.