Many clients of our office are interested in the process of estate planning. Ecuador´s law in reference of that matter, is quite different from the US. Maybe we can run a conference to explain the process of estate planning, taxes, etc.
In any event, Jack, what I want to inform you is about the fees that a person putting together a will has to face and pay. Although and according to the new scale of Notary´s fees for business brought to his attention have been reduced, the act of putting together a will, has not suffer a reduce nor an increment. The Notary Public fees is:
Wills for general public.- 90% of a salary, minimum wage, plus 12% IVA tax. So, aproximatly $320,14 if you were putting together a will today.
Wills for senior citizens holding a legal cedula.- People over 65 years old, obtain a big disscount. $50,00 or less to pay only.
With these antecedents, I would like to recommend to the people that are considering the act and process of estate planning in Ecuador, to keep in mind the cost.
Further questions, please do not hesitate.
Respectfully
santiago1397@gmail.com>
Abogado Santiago M. Andrade
Bolivar y Garcia Moreno.
Ofi 205. 2do piso, Edificio Club 24 de Mayo
Tel: (593) 6 2928 318; (593) 0997 268 351
Blackberry PIN 26AD2BCE
Otavalo-Ecuador