FAQ INHERITANCE
WILLS
1. Why use a law firm for the drafting of your will?
A professionally drafted will in Cyprus gives you peace of mind, reduces legal risks for your heirs, and helps avoid unnecessary delays or legal disputes in the probate process.
2. What are the legal requirements and formalities for a Will to be valid in Cyprus?
A valid will in Cyprus must:
-in writing,
-signed by the testator, and,
-witnessed by two individuals.
3. What requirements shall the Testator satisfy in order to make a valid Will?
The Testator shall have a “Sound Mind” and mental capacity, which means that, (s)he will understand that (s)he is making a will, knows the nature and value of their assets, is aware of the people who might reasonably expect to inherit (e.g., family) and is free of mental illness or delusion that could distort her/his judgment.
4. What requirements shall the Witnesses satisfy in order for the Will to be valid?
The witnesses to a will must be persons who have completed the age of eighteen years, are of sound mind and are able to sign their names.
Witnesses cannot also be Beneficiaries of the will or have a relationship, such as spouse or parent, or any other, with a Beneficiary of the Will. Otherwise, the Will will be void as to the part of it which considers the specific Beneficiary.
5. What are the responsibilities of a Will Executor?
Some of the main responsibilities of the Executor are the following:
- Applying for Probate at the District Court, obtain a probate order, administrating the probate until completion.
- Identifying and Securing Assets.
- Paying Debts, Taxes and Costs, including outstanding debts, funeral expenses, legal fees, administration costs, probate tax clearance, property immovable property tax.
- Distributing the Estate, and if minors are involved, assets may need to be held in trust.
- Keeping Records and Accounting.
- Defending the Will, if contested.
- Defending the Deceased Estate, if a claim arises against it.
6. Is possible that the Executor of a will also be a Beneficiary?
Yes, the Executor of the will can also be a Beneficiary.
7. Is it possible for the Testator to include any Funeral Wishes in the Will?
Yes. However, it is up to the Executor or the family members or the heirs, whether or not they will be honored, since such obligations are not binding on the Executor or any other persons by Law.
8. How is the disposable portion in a will calculated under the forced heirship rules of the Cyprus Wills and Succession Law (Cap.195)?
The disposable portion depends on the surviving relatives:
- If leaving a spouse and a child (or descendants), or no spouse but a child (or descendants), the disposable portion is up to one-fourth (1/4) of the estate.
- If leaving a spouse or parents but no children, the disposable portion is up to one-half (1/2) of the estate.
- If leaving no spouse, nor a child, nor a descendant of a child, nor a father, nor a mother, the whole disposable portion (1/1) of the estate.
9. What happens if a Will disposes of more than the disposable portion under the forced heirship rules of the Cyprus Wills and Succession Law (Cap.195)?
The will is not void, but the disposition exceeding the disposable portion will be reduced to align with the allowable portion.
10. How is the heir portion calculated where there is no valid will under the forced heirship rules of the Cyprus Wills and Succession Law (Cap.195)?
In the absence of a valid will, the estate is distributed according to the statutory portion, which is determined depending on the surviving relatives.
Usual Examples:
Deceased survived by a spouse and child/ren, the estate is divided equally between the spouse and the child(ren).
Deceased survived by a spouse and parents but no child: spouse entitled by one-half (1/2) of the estate and parents entitled equally by the other one-half (1/2)of the estate.
- Please feel free to contact us where different family relatives’ status applies for a proper legal opinion on the heirship and enforceable shares.
11. Under the Wills and Succession Law (Cap.195) can a will be revoked?
Yes, a will can be revoked by:
- Creating a new will that explicitly revokes the previous one,
- Destroying the will or directing someone to do so in your presence,
- Marrying or having a child, if at the time of making the will, the testator had no spouse or children.
12. Are Foreign Wills recognized in Cyprus?
Yes, provided they comply with the formalities required by Cyprus law or the Hague Convention on the Conflict of Laws Relating to the Form of Testamentary Dispositions (1961), which Cyprus has ratified.
Additionally, wills from Commonwealth countries and also Grants of Probate Orders can be re-sealed in Cyprus under the Probates (Re-Sealing) Law, Cap. 192.
13. What types of Bequests is the Testator able to make in a Will?
- Specific Bequest –A gift of a particular item or piece of property – e.g., “house with registration number 0/222 in Paphos, ½ share in the apartment with registration number 0/444 in Paphos, diamond ring.”
- General Bequest – A gift of a sum of money (also pecuniary bequest) or assets not specifically identified – e.g., “€10,000, 100 shares of Bank of Cyprus.”
- Residuary Bequest – what’s left after all debts, expenses, and specific/general bequests have been paid.
- Conditional Bequest- e.g., “I leave €5,000 to my daughter provided she completes her university degree ,…. provided that she reaches the age of 25 years old”
- Lapsed Bequest- If the beneficiary dies before the testator, the bequest typically fails unless, the will provides for a substitute, or the beneficiary is a child or descendant, in which case the bequest may pass to their own heirs (under per stirpes rules).
14. Shall a person make Will when has nothing to leave?
If a person is in a position where it is going to receive inheritance from another relative or person, it would be a good idea to make a will, so that his/her wishes will be honored regarding the inheritance to be received, in the worst-case scenario, where (s)he passes away before receiving the inheritance.
15. Is inheritance tax applicable in Cyprus?
No, Inheritance Tax is not applicable in Cyprus.
16. Is it possible for the content of a Will to be contested?
The grounds upon which a Will can be contested are usually the following:
- Lack of Testamentary Capacity – lack of sound mind and mental capacity.
- Undue Influence-pressure or manipulation by someone close to the testator, which coerced or unduly influenced the Testator into writing the will in a certain way.
- Lack of Due Execution (Formalities)- writing, signing and witnessing.
- Forgery or Fraud- Signature forgery and/or Fraudulent alterations.
- Violation of Forced Heirship Rules- where the Cyprus Wills and Succession Law (Cap.195) is applicable.
17. Is there a way to avoid the Forced Heirship Rules under the Cyprus Wills and Succession Law (Cap.195), where there is only Cyprus Nationality?
The Cypriots are able to avoid the Forced Heirship Rules under the Cyprus Wills and Succession Law (Cap.195), by distributing their estate before passing away among the persons they wished to, by a way of a gift.
In the case of Immovable Properties, they are also able to secure a big number of their rights, by imposing on them, a right of usufruct in the benefit of their names, which has a lifetime validity, provided the done consents for it.
* Important Note: If a person which has a beneficial interest in the donor’s estate under the Forced Heirship Rules under the Cyprus Wills and Succession Law (Cap.195), does not agree with the gifts given during lifetime, (s)he has the right to bring a civil legal action at the District Court requesting cancellation of the gifts in question, and, the District Court will decide on whether to grant such an order or not, in accordance with the factual facts and the legal arguments presented before it.
18. What Documents are Needed to Draft a Will in Cyprus?
- Necessary Documents:
- Proof of Identity:
- Cypriots: Cyprus ID or Valid Passport.
- Internationals: Valid Passport.
- List of Beneficiaries:
- Full names, IDs/ Valid Passports, addresses, and relationship to testator.
- Executor’s Details: Full name, ID/Valid Passport, address, and relationship to testator,
- An alternate executor would be a good idea to be included in case the main executor can’t act.
- Proof of Identity:
- If Applicable Documents:
- Proof of Identity for Internationals: ARC or residency permit.
- Title Deeds or Property Documents.
- Bank Account Details- Useful for pecuniary bequests.
- Shares and Investments- Share certificates, Bonds, funds, and crypto holdings (with access details).
- Details of Personal Belongings-jewelry, cars.
- Guardians for minor child/ren or children with disability-Names, Full names, IDs/ Valid Passports, addresses, and relationship to testator.
- Marriage or Divorce Certificate, Birth Certificate or Adoption Papers,
- Funeral or Burial Wishes.
- Previous Will or Codicils (if any).
* Some of the above documents, even if applicable might not be compulsory for the purposes of drafting a Will.
Contact us for a brief and clear consultation as to the documentation necessary for the purposes of drafting your Will in accordance to your specific personal circumstances.
19. Are all the EU countries members of the EU Succession Regulation (Brussels IV)?
It’s binding in most EU countries, but Denmark, Ireland, and the UK opted out, meaning their citizens need to take extra care if they own property or live in Cyprus and/or generally in EU.
20. Why it is of high Importance to make a Will?
It is of high importance to make a Will because proving Last Habitual Residence might be Difficult and Controversial, leading to unwanted pitfalls, especially in cases when the Deceased has resided in two or more countries during his/her lifetime.
The regulation requires an overall assessment of the deceased’s life circumstances, both at the time of death and in the years preceding it. Some evaluating factors are:
-Duration and regularity of the deceased’s presence in the state.
-Conditions and reasons for their stay.
-Family and social ties.
-Economic interests, such as the location of assets and employment.
-Nationality and language skills.
21. How long does it take to draft a Will?
It usually takes 2-3 days, depending on the drafting needs of the each Will.
However, it is possible to be drafted earlier, if matters of urgency demand it.
22. How much the making of a Will costs?
Our legal fees for Wills are fixed on the amount of €200 for a single will, and on the amount of €300 for mirror wills, including any stamps needed.
*However, if a Will involves a range number of complexities, which will cause significant amount of time spent, we will inform our client accordingly and provide him/her with a fixed quote.