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Probate in Panama - A brief overview of the process
The Probate Process in Panama is regulated not by the Civil Code but by the
Judicial Code (Procedural Code).
The Probate Process includes the following steps or proceedings:
 | Establishing whether or not there is a will (Are we faced with Intestate
Probate or Testamentary Probate?); |
| Inventory of all assets and liability which form part of the Estate; |
| Assessment (of the value of the assets); |
| Division of the assets (for example, where there are joint assets, owned
by a husband and wife, the judge will order the division of the assets, to
see which are those which belonged to the deceased and form part of the
Estate) and division of the assets which are shared with third persons, and
payment of any debts or taxes which may be due. It is possible for
some debts (such as encumbrances on real estate) to be assumed by the heir
or successor of the particular asset; |
| Adjudication or Judgement - issuance of the decree of what assets are to
pass to which heirs of the deceased |
The Parties to the proceedings may include:
| The heirs |
| A guardian or tutor of any heir |
| The creditors (of the deceased) |
| The creditors of the heirs (where an heir is repudiating their interest,
in fraud of their creditors) |
| The executor of the will |
| Prosecutor's office, where there are no known heirs |
| Dirección General de Ingresos of the Ministerio de Economía y Finanzas
(the Treasury Department, in relation to the Estate Taxes) |
When a person passes away, the heirs may start the Probate Process by
presenting to the court the evidence of the Last Will & Testament (or
certifications from all Notary Publics in the Deceased's place of residence that
no will is known to exist).
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Last modified 26-Sep-2007 17:38 -0400
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