Inheritance

Kobe

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Jun 1, 2008
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A Dominican is president of a company. The company have 2 real estate in it name. He want to make a will to give all the asset to one of his son. He has 5 sons. Can he made that? All sons as shareholder in the company.

Maybe this question is a consultation for a lawyer, but if some one of this forum can help, it wil be apreciated!

Thanks in advance.
 

Hillbilly

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Jan 1, 2002
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The father cannot leave everything to one son. He probably can have one son become the administrator of the real estate. However, I am sure that the company's statute's will have something to say about this.

Wait for one of the lawyers to answer, and be sure to consult other lawyers.

HB
 

Fabio J. Guzman

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Jan 1, 2002
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I assume that what you mean is that the person in question wishes to will all his shares in the Dominican company to one of his sons.

As the father of 5 children, he can only dispose freely by will of 25% of his assets. The remaining 75% is RESERVED BY LAW to ALL his children.

Therefore, if the properties in question represent less than 25% of his assets, he can do so; otherwise, he cannot. The tricky part is that the percentage is calculated based on his net worth at the time of his death. However, going over the limit does not annul the will, it just reduces the amount going to the favorite son.
 

MikeFisher

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Feb 28, 2006
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interesting question and answer.
Fabio,
so if a man can give freely away 25% and the rest/all of his children together have the right to 75%, what belongs to his wife?
i mean a wife which is also the mother of the children, no sidekids from either of 'em with anybody else.
thanks
Mike
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
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The wife does not inherit her husband under Dominican law, except in very exceptional circumstances.

However, when married under community property rules (as is the case of most marriages in the DR), half of the assets of the community belong to her. So when her husband dies, she takes her half (which, by the way, is not an inheritance and therefore pays no inheritance taxes), and the other half (her husband's estate) goes to his heirs.
 
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