Family and estate matters · Quirós & Quirós
Wills and estate planning in Panama
Would you like to record your wishes for a home, land or other assets? We advise on preparing or reviewing a will and organizing your estate documents. The consultation starts with your goals and family circumstances, even if you own only a few assets.
On this page
Getting started
Key points
- This is preventive advice. If the person has died, the matter must be assessed as a succession, not preparation of a will.
Personal wishes expressed with the correct formalities
A will is strictly personal. Advice helps explain alternatives and draft clearly but does not replace the testator’s wishes. Nor can another person decide for them through a power of attorney. The chosen form and its requirements are reviewed before execution.
Inventory before distribution
We begin by identifying real estate, company interests, accounts, debts and existing documents. We distinguish personal assets from shared assets and those belonging to an entity. This avoids drafting instructions for assets that are not legally part of the person’s estate.
Coordinate the will with the wider estate plan
We can review earlier instruments and explain their relationship to current family and financial circumstances. Assets or documents in other countries may require additional coordination. Planning is not presented as a universal way to eliminate taxes, creditors or every future dispute.
How we proceed
Your matter, step by step
- Understand your wishes and assets
We discuss your goals and family circumstances. We review assets, debts and existing documents to distinguish personal, jointly owned and company property.
- Prepare or review the provisions
We assess whether a will meets your goals and how it relates to other instruments. The proposal defines drafting, revisions and any coordination required for assets abroad.
- Coordinate execution and documents
Once the wording is agreed, we coordinate the formalities included in the engagement. We identify the documents to retain and any estate arrangements requiring additional work.
Preparing for your consultation
- Identification and details of the people you wish to include in planning.
- Titles, company information and a list of assets and obligations.
- Existing wills, powers of attorney and other estate instruments.
Fees, expenses and timing
The proposal distinguishes advice, drafting, revisions and coordination of formal execution. Notarial expenses, certificates and any foreign advice are identified separately. Work is organized directly with the person whose wishes must be expressed.
Timing depends on the documents, participants’ availability and the specific procedures. When defining the engagement, we distinguish our preparation timetable from dates that depend on third parties or an authority.
How we explain your legal fees →Answers for this consultation
Do I need substantial assets to make a will?
We do not assess the need for advice solely by the value of your assets. Clarifying the position of a home, shareholdings or family documents can be useful. We first review your objectives and assets to determine whether a will is appropriate and what other steps are needed.
Can you review a will made outside Panama?
Yes. We can examine its relevance to assets and proceedings in Panama, considering the form of the document, the country where it was executed and the applicable formalities. If advice from another jurisdiction is required, we identify that as a separate scope of work.
What does an estate-planning engagement provide?
The scope is agreed in writing. It may include an assessment, a document inventory, preparation of a will and coordination of its formal execution. Creating companies, transferring property or handling a future succession is not automatically included; those tasks must be expressly defined.
More questions about this service:
- Do I need substantial assets to make a will?
- Can my child or attorney-in-fact make my will for me?
- Can my partner and I sign one joint will?
- Can I change a will I have already made?
- Can I personally dispose of property registered in my company’s name?
- Can you review a will made outside Panama?
- What does an estate-planning engagement provide?
- Does a will eliminate all subsequent procedures?
Working with our firm
A clearly defined engagement
- Advice on defining and documenting testamentary wishes.
- Review of existing wills and coordination of formal execution where appropriate.
- Organization of an asset inventory and documents for future succession proceedings.
Our proposal sets out which of these services you need and the terms of our engagement.