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MEXICAN WILL VALID FOR U.S assets?

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MEXICAN WILL VALID FOR U.S assets?

Post by gringal on Thu Oct 08, 2015 11:34 am

All of our assets are in Mexico except for one investment account in a U.S. institution (such as Schwab or Vanguard)
We are going to the Notario soon to make some minor changes re beneficiaries and am wondering if there is any problem with having the U.S. investment account covered by the Mexican will?

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Re: MEXICAN WILL VALID FOR U.S assets?

Post by David on Thu Oct 08, 2015 12:01 pm

Your account(s) at Vanguard already has beneficiaries designated.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by gringal on Thu Oct 08, 2015 12:36 pm

David wrote:Your account(s) at Vanguard already has beneficiaries designated.
Yes, and the question applied to a situation where the beneficiaries were in the same plane wreck together, so to speak.
Maybe I should have directed my question to Vanguard.

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Re: MEXICAN WILL VALID FOR U.S assets?

Post by David on Thu Oct 08, 2015 12:38 pm

Good plan.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by CanuckBob on Thu Oct 08, 2015 2:19 pm

Your Mexican will is not valid in the US nor is your US will valid in Mexico.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by Intercasa on Thu Oct 08, 2015 3:36 pm

Wills can be valid and used in other countries and I have done so. It gets trickier with real estate. Some states require the filing of the will in the state probate court, other states have small probate estate laws where if you have less than 100,000US you present a copy of the will with death certificate and sworn statement to be able to access funds as next of kin.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by CanuckBob on Thu Oct 08, 2015 4:05 pm

Really. That is news to me. I was always told the big push to get a Mexican will was because your foreign will was not valid down here.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by Intercasa on Thu Oct 08, 2015 10:30 pm

It is cleanest and best to have a will in each country to take care of property in each country. You can use a foreign will except there could be issues validating it and using it to transfer real property. Why leave it up to a judge to decide if your foreign will is valid or require additional legalization or starting litigation outside Mexico then having to use diplomatic channels to send requests and finish the process in Mexico when for about $100 dollars you can save your heirs all that grief.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by CanuckBob on Fri Oct 09, 2015 7:41 am

Thanks for the clarification.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by ALICIA GH on Thu Nov 05, 2015 9:55 pm

Well, but... If you want to find out if you can include your US assets in a Mexican will, please make an appointment with a Notary Public, he will give you all the information you may require. You have to be sure and clear of the desition you have to take. Saludos.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by David on Fri Nov 06, 2015 8:20 am

You should have said, "Notario" not Notary Public. They're totally different!
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by Intercasa on Fri Nov 06, 2015 8:46 am

Notaries are notarios here in Mexico when, nothing else. They can be a he or she. Also known as fedatarios with a fiat.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by David on Fri Nov 06, 2015 8:59 am

Si, but a Notary in the USA is not an attorney, anyone can be a Notary in the USA. Big difference.
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Re: MEXICAN WILL VALID FOR U.S assets?

Post by Intercasa on Fri Nov 06, 2015 9:00 am

USA notaries cannot practice in Mexico, yes there is a difference but I was referring to Mexican notaries.
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