kimanjome Posted May 7, 2019 Report Share Posted May 7, 2019 My will and that of my husband are 20 years' old. We've been told that wills have to be updated every 10 years or in the US to valid. Wondering if a Mexican will 1) prepared by a notario 2) is valid in US for US assets? Because we are Permanente it makes sense to do the wills here in Mexico, right? Or can we get a US lawyer to prepare them remotely? Not heading back to the US anytime soon. Quote Link to comment Share on other sites More sharing options...
AlanMexicali Posted May 7, 2019 Report Share Posted May 7, 2019 https://mexlaw.ca/will-inherit-property-mexico/ " A foreign Will is legally valid in Mexico. However, it is inconvenient and it can be costly to have it recognized and acknowledged in this country. The process to have a foreign Will recognized in Mexico is as follows, the steps need to be done consecutively and in order: the Will needs to be probated in the jurisdiction or residence of the deceased; once probated, the Will must be legalized in Canada, or apostilled by the Secretary of State in the United States. Other countries have the same process but different government authorities will have the documents apostilled. " I might guess a Mexican will is valid in another country where there are assets but might be difficult to execute there. We have two wills with no mention of foriegn assets in either country. We don't want to complicate matters unnecessarily. Quote Link to comment Share on other sites More sharing options...
bmh Posted May 7, 2019 Report Share Posted May 7, 2019 In France a notario told me to have a French and Mexican will, t makes it simpler She told me to have the French will cover the French assets and the Mexican will the Mexican assets. Having a beneficiary also simplify things. Quote Link to comment Share on other sites More sharing options...
Ferret Posted May 7, 2019 Report Share Posted May 7, 2019 I agree with Bridget and have a Canadian will for Canadian assets and a Mexican will for Mexican assets. Both wills are in the hands of the beneficiary. Quote Link to comment Share on other sites More sharing options...
Bisbee Gal Posted May 7, 2019 Report Share Posted May 7, 2019 You can also use POD and TOD (Payable and Transfer On Death) on US bank accounts, investment accounts, IRA's (and even real property in some states). No will is needed and you AVOID probate! Talk to your US bank and financial institution. https://www.thebalance.com/what-is-a-payable-on-death-or-pod-account-3505252 https://www.thebalance.com/using-transfer-on-death-accounts-to-avoid-probate-3505416 1 Quote Link to comment Share on other sites More sharing options...
El Menudo Posted May 7, 2019 Report Share Posted May 7, 2019 We have always played it safe and had a wills for both countries. US assets on US will and Mexican assets on MX will. And yes, after that many years have passed I would get new US wills drawn up. Rules and laws change. Also, depending on the state you may need to have the US wills notarized and witnessed. Years back a Texas based will had to be filed with the state somehow. They don’t do that now. I email our TX attorney every few years to say hello and see if laws have changed and we need to update things. But then, I’m not retentive, I just like things tidy! Quote Link to comment Share on other sites More sharing options...
kimanjome Posted May 8, 2019 Author Report Share Posted May 8, 2019 13 hours ago, Bisbee Gal said: You can also use POD and TOD (Payable and Transfer On Death) on US bank accounts, investment accounts, IRA's (and even real property in some states). No will is needed and you AVOID probate! Talk to your US bank and financial institution. https://www.thebalance.com/what-is-a-payable-on-death-or-pod-account-3505252 https://www.thebalance.com/using-transfer-on-death-accounts-to-avoid-probate-3505416 Thanks for the reminder--we have no real estate, only bank and investment accounts, so will go through and check all of them. Quote Link to comment Share on other sites More sharing options...
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