It is not the most exciting part of moving abroad, but it may be one of the most important: if you own property or hold assets in Costa Rica, you need an estate plan that works *here*. Without one, your loved ones can face a slow, costly, foreign-language legal process at the worst possible time. Here is what expats should understand. (This is general education — work with a qualified Costa Rican attorney for your specific plan.)
Why a Foreign Will Isn't Enough
Many expats assume the will they made back home covers everything. In practice, a foreign will is not automatically valid in Costa Rica. For it to govern Costa Rican assets, it generally must be formally recognized and processed through the Costa Rican courts — a procedure that can be lengthy, expensive, and conducted entirely in Spanish.
The cleaner solution for most people with assets here is a separate Costa Rican will that covers their Costa Rican property, working alongside (not contradicting) the will in their home country.
How a Costa Rican Will Works
Costa Rica recognizes a few forms of will. The most common for expats is an open will (testamento abierto), executed before a notary (in Costa Rica, a specially licensed attorney) with witnesses. The notary registers it, making your wishes clear and far easier to execute. A properly drafted local will lets you name your heirs, an executor, and guardians for minor children.
Inheritance Without a Will: Why You Don't Want It
If you die without a valid will (*intestate*), Costa Rican succession law decides who inherits — typically distributing assets among spouse and children by fixed rules, regardless of your personal wishes. The court-supervised process (*sucesorio*) is slow and costly. A will is how you stay in control.
The Corporation Strategy
Many expats hold Costa Rican real estate inside a corporation (sociedad anónima or S.R.L.) rather than in their personal name. Done right, this can simplify succession: instead of transferring the property through probate, ownership can pass via the corporate shares, which may be faster and cleaner — and it can ease management of the asset during your lifetime. It is not the right move for everyone, so get tailored advice on the trade-offs (including annual corporate taxes and reporting).
Key Steps for Expats
1. Inventory your Costa Rican assets — real estate, vehicles, bank accounts, corporations. 2. Decide on a structure — personal ownership with a local will, or a corporation, or a mix. 3. Make a Costa Rican will with a trusted notary/attorney covering your local assets. 4. Coordinate with your home-country will so the two don't conflict. 5. Name guardians if you have minor children. 6. Keep beneficiaries and documents current — review after major life changes.
Don't Forget the Practical Details
- Bank accounts: Costa Rican banks may freeze accounts on death until succession is resolved — another reason planning matters.
- Marriage & property regimes: how assets are titled between spouses affects what happens.
- US citizens: coordinate with your US estate plan and advisors; cross-border estates have extra considerations.
Build Your Costa Rican Life on a Solid Foundation
Estate planning is part of putting down real roots. Legal Residency Costa Rica helps you establish residency and, through our network of trusted legal partners, can point you to the notaries and attorneys who draft local wills and structure asset ownership properly.
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Call us: +506-8385-5008 | Email: legalresidencycostarica@outlook.com | Office: Santa Ana, Costa Rica
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