DR1 Daily News - Dominican Republic

Rulings in effect have resulted in a windfall in profits for banks. When a person dies unexpectingly, rulings order the person’s bank assets to remain frozen until the heirs comply with the legal and bureaucratic obstacles that prevent them from accessing the money.

The process of accessing these funds may be delayed not only due to missing documentation from family members, but also because of situations such as disputes among heirs or ongoing legal cases.

The media is reporting that a recent ruling has further cemented this situation, allowing financial institutions to continue profiting from funds that many times sit idle for years while heirs struggle to navigate complex inheritance procedures.

Instead of swiftly transferring these assets to rightful heirs, red tape and burdensome legal requirements slow the process, effectively...