I have a DR corporation, which owns real estate in the DR. I am the president and a friend the vice president of the corporation, since it was convenient to have some one here to sign papers with me. My United States Will leaves the property to my children. I do not have a Will in the DR and strongly believe if I had one it would create all sorts of problems. Recently someone told me when I die my friend not my children would own the real estate. Moreover, the DR government somehow can find out I died and collect taxes on the value of the property. I have the stock book, but who knows what would happen if someone gets their hands on it after I die. By the way a number of years ago I presented this problem to a lawyer here and was told not to worry. Should I?
Adam Spenser
Adam Spenser