It is a fact that a will is one of the most precious documents that anyone might think to prepare and keep in a safe place. Especially if anyone has assets or relatives in Cyprus then a will is something that he/she must seriously consider. Inheritance issues and matters in Cyprus are governed and regulated by the Wills and Succession Law, the Probates (Re-sealing) Law and the Administration of Estates Law.
According to Cyprus Law a ‘will’ is the written legal declaration of the testator which expresses his/hers intentions in relevance with the distribution of his/hers movable and immovable property at death. The law applicable for the will is the law that is in force the day of death of the testator. Cyprus inheritance law apply to individuals whose domicile is in Cyprus or who had immovable property in Cyprus.
When drafting a will in Cyprus there are many factors that must be taken into consideration. For a valid will the following indicative formalities must be fulfilled:
– The will must be written
–The testator must be an adult (18 years old+)
–The testator must have consciousness and be mentally healthy
– The will must be signed at the end of the text
–If the will is more than one page then each page must be signed by the testator
– At least two witnesses must be present at the time that the testator will sign his will and their names should be mentioned on the will. (It is not necessary for the witnesses to read or confirm the text of the will. They just confirm that the testator signed at their presence his/hers will).
– The witnesses must be adults and have consciousness and be mentally healthy
–The witnesses must not benefited from the will of the testator
– Any deletion, alteration or any change on the text of the will before the signature of the testator, must be signed from the testator at the point of the change.
– The will must be made freely by the testator with no mental stress, fraud or coercion, otherwise the will is void.
Drafting a will is very important for every testator and his/hers successors and heirs and must be carefully considered. As a result, we always advise our clients to seek a legal advice before drafting their will so as to protect not only their estate but their successors as well.
Disclaimer: This document provides information and guidance only and it is not a legal advice. we do not accept any liability that may arise out of the use or misuse of this information.