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Probate Lawyer Argentina & Probate Attorney Buenos Aires

Probate Lawyer Argentina & Probate Attorney Buenos Aires

Claiming succession is not usually as easy as it sounds. A lot is involved in ensuring your path to claiming an estate or succession is as smooth as possible. If you’ve been searching for a probate lawyer Argentina or in need of a probate attorney Buenos Aires, you’ve come to the last bus stop!

In case you’re wondering, what’s this probate lawyer Argentina going to do? What role is my probate attorney Buenos Aires going to play in my succession claim? Here is a brief on what to expect from your lawyer.

Gathering of all required documents that will facilitate a succession proceeding, from financial statements to ownership certificates and of course birth certificates. Your probate lawyer will guide you in ensuring none is missed. Your lawyer will look at the domicile of the decedent to determine where your succession claim will be heard. The important location is the decedent’s last place of abode before death and not necessarily where his properties and estate is located.

Depending on the circumstances surrounding decedent’s death and if there was a valid written will or not, your lawyer can conclude whether your succession is testate (with a valid written or oral will) or intestate (without a valid will, also includes invalid written will). Where there is a will, your probate attorney Buenos Aires will help you determine whether the will is holographic or notarial.

Once requisite documents have been gathered, your probate attorney will then file the succession petition in court, estate notices in the Official Gazette, ruling acknowledging legal heirs and other needed procedures to bring success to your claim. Estate notices are required to be filed to eliminate any untitled claims.

Limiting your overall expenses by making sure due process is followed. Especially as most people assume they do not need to initiate succession proceedings where there is a valid will involved. They may get to realize this mistake late, after lots of unnecessary expenses have been made.

Peruse the will to be sure it is consistent with laws governing estate, probate and succession. For instance, children are entitled to 4/5 of the decedent’s estate, parents 2/3 while spouse is 1/2. While they can inherit more than this quota, less than it is not allowed in law. This mandatory quota is known as the legitime portion of the estate of the decedent.

Advice you on your options where other beneficiaries are opposed to initiating succession proceedings. According to law, you have the option to singly initiate the proceedings and cause processes to be served on beneficiaries not in agreement.

A probate lawyer Argentina is needed not only during initiation of succession claims, but also before death of the decedent. The lawyer will review your written will and advice on terms to include so rightful heirs are not excluded. You can write as many wills and revoke them too, but the last written one before death will be the valid one.

Your probate lawyer will discuss upfront what to expect in fees and thus save you higher expenses which can be recovered in court after the proceedings. So it’s important you reach a mutual agreement before retaining your lawyer.

After the judge has passed a ruling acknowledging the heirs of the estate, the probate document is then registered by your lawyer which then gives you the right to either sell via the Fast Track system or personal management.

Our expert and dedicated team at Kier Joffe Firm are waiting to meet your estate, probate and succession needs with the most effective legal solution. Our reach includes both local and international assets. If you’ve got more questions, we’re just a call away!

ARGENTINA SUCCESSION PROCEEDINGS

ARGENTINA SUCCESSION PROCEEDINGS

Succession refers to the body of law pertaining to the distribution of a person’s assets after they have died. Based on the property type, the property value, the debts of the decedent and some other factors, the process may be very easy or complicated.

Types of succession in Argentina

1. Intestate succession (without a will), which represents a majority of cases; and
2. Testamentary succession (with a will)

A judicial succession proceeding is how the law sees the transfer of immovable assets i.e. real estate, permits the transfer of bank accounts and stocks and bonds or any assets that are documented in the name of the deceased person , and arranges for the payment of the debts of the decedent. If a person dies without having any of those properties, and without any significant debt, it may be unnecessary to open his succession.

Among the most frequent questions people ask is how long it will take to complete a succession proceeding in the City of Buenos Aires or Province of Buenos Aires. The answer is dependent upon:
• Whether the documents (vehicles ownership certificates, death certificates, birth certificates, real property title deeds (departments, houses, motorcycles, vessels, motor vehicles, securities and shares, bank statements ) needed to start the succession is available;
• The court wherein the succession is to be settled, which depends on the jurisdiction corresponding to the last domicile of the decedent;
• The number of heirs and their willingness to speed up the process by signing all the documents needed and collaborating in moving the judicial process forward; and
• Whether there is any conflict among heirs, in which case, such conflicts must first be solved through the help of a probate lawyer Argentina to continue with the succession proceedings as laid out by the legislation in force.
Generally, a succession proceeding takes at least 5 months to acknowledge the legal heirs for an intestate succession to be issued , depending on the jurisdiction ( City or Province of Buenos Aires with their diverse Judicial Departments).
Furthermore, succession expenses are incurred per stage. It may involve the issuance of certificates showing family bonds between the decedent and their heirs, the form utilized to apply for proceedings connected with the whole estate of the demised, the compulsory social security levy of the probate attorney Buenos Aires (lex provisional), court fees, and succession notices.
It is therefore, important to note that the completion of all procedural terms and stages (i.e. filing of the petition for succession, publication of estate notices in the Authorized Gazette, rulings confirming the lawful heirs to an intestate succession, distribution and enrolment of the properties the estate of the decedent) is the leading principle of any succession proceeding.
If when the succession is completed, the heirs have finally made up their mind to sell the assets, the ruling confirming the genuine heirs to an intestate succession has to be registered via fast tracking i.e. In one act before a probate attorney Buenos Aires, assets are then transferred from the decedent ) to heirs and from heirs to buyer. For such reasons, a probate lawyer Argentina must demand that the registration be made through fast tracking, and give the name, domicile and a contact number of the acting probate attorney Buenos Aires, who will be certified to take the succession records for several days to set up the fast tracking title act. In pursuant to the relevant legislation, counsel’s charges in the City of Buenos Aires vary from 11% to 20% of the exact asset value, less than 25%.
In the Province of Buenos Aires, they vary from 7% to 25% of the assets’ tax assessment which is near the real value. As the amounts to be permitted for counsel’s charges in a succession proceeding may be somewhat high, you need to enter into a fee’s agreement with your probate lawyer Argentina before starting the proceedings otherwise, they may request the courts to fix the counsel’s charges, which may be higher compared to those you would have agreed by mutual consent.
A probate lawyer Argentina can provide you the most effective legal solution for succession cases of diverse nature, and can handle both simple and complex registrations involving assets in the national territory and abroad. For more details on succession proceedings, please contact Kier Joffe Attorneys at Law, Buenos Aires, Argentina.

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We offer a free initial consultation on your legal matter, with full protection of attorney-client confidentiality, as required by Act number 23,187 section (6) subsection (f).

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Elias Kier Joffe
Managing Partner

Division of Marital Property Under the New Argentinian Civil and Commercial Code

NEW CIVIL AND COMMERCIAL CODE OF ARGENTINA

Division of property under the new Code

As a result of all questions and doubts that have arisen from the enactment of the “new Code” (Civil and Commercial Code of Argentina, CCCN in Spanish), which came into force on August 1 this year, we will explain the effects of “Termination of the Community Property System”, mainly what we need to know when a couple decides to divorce, when one of the spouses dies, or when they decide to opt for a different property system and need to divide assets after the dissolution of marriage.

Nowadays the law allows us to choose the way in which we want to “administer” our matrimonial property so that couples can select what property system will govern their marriages by executing a marriage settlement.

Section 446 of the new Code expressly contemplates “Marriage Settlements” and provides that “before the celebration of marriage, prospective spouses may enter into settlements only for the following purposes: a) to designate and valuate the assets that each spouse brings into the marriage; b) to list debts; c) to list donations made to each other; d) to opt for any of the property systems provided under this Code.”

Although the Code provides that prospective spouses may sign marriage settlements, it also limits the scope of said settlements. As opposed to what most people imagine, the law stipulates a strict framework of what terms the parties may agree on. Outside this legal framework, spouses cannot dispose of property in any way. If they do so, the law states that such disposition will have no effect.

The principal amendment relates to the fact that now spouses can opt for a system of division of property, under which they keep the right to freely administer or dispose of their premarital property.

At this stage we may conclude that the most significant change not only relates to the possibility of choosing one system or another, but also to the right to agree to change it, whether choosing between the division of property system or the community property system. For this to be possible, two requirements must be met. First, spouses must have kept the adopted system for a period of at least one year. Second, the settlement must be made by a notarially recorded instrument. However, if the parties are silent, that is, in case spouses do not make any marriage settlement or do not agree on any property system in the settlement, the community property system will apply by operation of law, as the situation was before the new Code.

“In my view, the Commission correctly chose not to do what Italy implemented after the Code of 1942, when it changed the system in force at that time thus generating a strong opposition from the society, who was not accustomed. Here we thought that the same thing could happen. That’s why the community property system was chosen as a legal and suppletory system “, explained attorney Pedro Di Tella during a seminar held at University of Buenos Aires Law School (UBA).

Another relevant issue to point out is that spouses who got married before the new Code came into force have the right to change systems, as long as they meet the statutory requirements: time in the system (one year) and written settlement made by a notarially recorded instrument. Such change of system does not require any leave or acknowledgement from a court.

So far this is what the parties may “choose”. Nonetheless it is important to highlight, as we have mentioned before, that the freedom of choice is restricted by what is called Régimen Primario (Primary System) based on mandatory and unalterable rules which apply whatever system the parties may have adopted, and on the principle of joint and several liability, family responsibility, and protection of family and other persons. Consequently, any agreement to the contrary will be of no effect.

What we need to know is that despite the amendments made by the new Code and the property system adopted, in every marriage spouses must comply with the following:
– neither spouse may dispose of the matrimonial home, nor of moveable property and property used for work without the other spouse’s consent.
– they must contribute to support themselves, the home and their children in common, in proportion to their resources. If one of them fails to do so, he or she could be sued in court.
– they are jointly and severally liable for the obligations assumed by each of them to meet family common necessities and children’s maintenance and education.
Apart from these cases and except as otherwise provided by the marriage system law, none of the spouses is liable for the other’s obligations. Not only prospective spouses may choose a property system, but they may also specify in the settlements what assets they bring into the marriage, which debts are still due, and what donations they have made to each other.

To sum up, it is important to realize that all these amendments have not been made in a capricious way, just because a substantive reform of the code was needed. The reform of the Code represents and consolidates the solutions provided by case law and legal authors to the social and cultural changes of the last decades as a result of the absence of express rules.

Best Argentina Divorce Lawyer|Buenos Aires Top Divorce Lawyer|Expert Argentinian Family Law

Argentina Divorce Lawyer|Buenos Aires Divorce Lawyer|Argentinian Family Law Firm

Argentina Company Formation|Argentina Company Incorporation

Business and Company Formations in Buenos Aires, Argentina

Company law (US: Corporation law or Corporate law) is the law which deal with the creation and regulation of business entities. The most common forms of business entity are companies and partnerships.

A company (US: corporation) is a group of people which is treated as a legal person, with a separate identity from its shareholding members. It can own property, enter into contracts, sue others and be sued. This contrasts with partnership, which is not considered to be a legal person and it is not able to own property in tis own name.

Because of the limited liability of the members of a company for its debts, as well as its separate personality and tax treatment, the company has become the post popular form of business entity in most countries in the world.

Companies have an inherent flexibility which can let them grow; there is no legal reason why a company initially formed by a sole proprietor cannot eventually grow to be a publicly listed company, but a partnership will generally have a limited number of partners.

A company has shareholders (those who invest money in it and get shares in return), a board of directors (people who manage the affairs of the company) and creditors (those to whom the company owes money). Company law deals with the relationships between companies and their shareholders, creditors, regulators and third parties.

The process of registering a company is know as company formation (also company registration in UK and incorporation in US). Companies can be created by individuals, specialised agents, attorneys or accountants. In the UK, a certificate of incorporation is issued once the company’s constitutional documents and statutory forms have been filed (generally no official certificate is issued in US).

The constitution of company consist of two documents. The memorandum of association (US: articles of incorporation or certificate of incorporation) states the principal object of the company. The second document, the articles of association (US: bylaws), regulates the company’s internal management and administrative affairs, including matters such as the rights and obligation of shareholders and directors, conduct of meetings and corporate contracts.

 

Property Prices at Lowest Price Since the 2001 Crisis

Property Prices at Lowest Price Since the 2001 Crisis

Those looking to purchase property abroad would be wise to consider purchasing in Argentina at this moment, with the guidance of bilingual (Spanish/English) Argentine lawyers. Currently, Argentines are hesitant to spend before this year’s presidential elections, resulting in some of the lowest property prices in years. But while locals are holding back, foreigners without ties to the local economy can invest now at extraordinary prices. Kier Joffe is the premiere real estate law firm for foreigners in Buenos Aires, and with our expertise and guidance, the buying process is simple, direct and stress-free. We are proud to call ourselves the only bilingual Argentine lawyers with such expertise in the real estate industry.

In January 2015, only 1723 property units were sold in Buenos Aires – 15 percent less than were sold a year ago, serving as the worst numbers for the month in 12 years. The average price was $907,306 Argentine pesos.

The sale and purchasing of property is in a historic low in the City of Buenos Aires. 2014 ended with some of the lowest indicators in 30 years, and 2015 has started with a similar forecast.

2014’s numbers are the lowest since the months immediately following the economic, political and social crisis of 2001 in Argentina. In fact, during the years after the 2001 crisis, it was reported that 67 percent more units were sold than were sold in 2014.

For example, in 2001, 54,493 contracts were signed, in 2001, 56,293, and in 2014, only 33,690. The information comes from the College of Notaries in the city of Buenos Aires, which measures changes in the market. Real estate lawyers in Argentina have noted the same phenomenon, noting that Argentines are buying less than they have in recent years.

CONTEXT

Property prices are much lower than they were three years ago. Since the implementation of tight monetary restrictions, the price of properties in dollars fell between 10 and 15 percent, and remain low now, according to reports by the specialized consulting firm, Reporte Inmobiliario.

Analysts consulted by newspaper La Nacion agree that causes for the low level of activity in the sector are due to more than just the restrictions on dollars. There is an existing tendency for sellers to delay activity as they wait for the administration to change this year.

There are also difficulties accessing mortgages, a wider gap between salaries and prices, the recessive nature of the economy and consumers’ perception of high prices. At this time, the square meter in an apartment with two or three rooms costs US$ 1700, on average, while two years ago that price was US$ 1900.

Mortgage lending has practically disappeared from the market, and those that are available are not easily accessible. For example, to qualify for a credit of AR$ 500,000 pesos (or US$ 57,736.00 using the official exchange rate), paying the loan off in ten years requires monthly payments of AR$50,000.00. This type of capital is only enough to purchase half of a two-room unit.

While Argentines are experiencing difficulty obtaining the capital needed to buy a property, the climate is ideal for foreign investors looking for a beautiful property at an accessible price. But it is important to seek the assistance of an expert real estate law firm in Buenos Aires first. If you are interested in learning more about how to buy property in Argentina as a foreigner, contact us. Celebrating 75 years in the business, we are real estate attorneys that specialize in assuring that foreigners in Buenos Aires do not experience any of the headaches that come with working through a new and different legal system.

With an international reputation worthy of mention in The New York Times, Kier Joffe is your one-stop shop for information and legal services related to buying a property in Argentina as a foreigner. The first firm to specialize in providing services to international clients buying property in Argentina, we have assembled a top team of lawyers, accountants and notaries dedicated to making your buying experience as smooth as possible.

For more information, just fill out the Quick Contact Form on the right or give us a call today, and we will get back to you.

USA: +(1) 212.300.6377

ARG: +(54) 115.218.3100