Best Estate Planning Lawyers in Republic of Lithuania

About Estate Planning Law in Republic of Lithuania:

Estate planning in the Republic of Lithuania involves making decisions about how your assets will be managed or distributed after your passing. This can include creating a will, establishing trusts, appointing guardians for minor children, and more.

Why You May Need a Lawyer:

You may need a lawyer for estate planning in Lithuania if you have complex assets, are concerned about tax implications, have beneficiaries with special needs, or want to ensure your wishes are legally documented and enforced.

Local Laws Overview:

In Lithuania, the Civil Code governs estate planning, outlining rules for will creation, inheritance, and succession. It is important to understand these laws to ensure your estate plan is legally valid and carries out your intentions.

Frequently Asked Questions:

1. What is the legal age to create a will in Lithuania?

In Lithuania, the legal age to create a will is 18 years old.

2. Can I disinherit a family member in my will?

Yes, you can disinherit a family member in Lithuania, but there are specific rules and limitations to follow.

3. Do I need a lawyer to create an estate plan in Lithuania?

While it is not mandatory to have a lawyer for estate planning, consulting with one can help ensure your plan complies with local laws and meets your objectives.

4. Are there estate taxes in Lithuania?

Yes, Lithuania has an inheritance tax that varies based on the relationship between the deceased and the heir.

5. How often should I review my estate plan?

It is recommended to review your estate plan in Lithuania every few years or after major life events like marriage, divorce, or the birth of a child.

6. Can I create a trust in Lithuania?

Yes, you can create a trust in Lithuania to manage your assets during your lifetime or after your passing.

7. What happens if I die without a will in Lithuania?

If you die without a will in Lithuania, your assets will be distributed according to the laws of intestacy, which may not align with your wishes.

8. Can I make changes to my will after it is created?

Yes, you can make changes to your will in Lithuania by creating a codicil or revoking the existing will and creating a new one.

9. How can I appoint a guardian for my minor children?

You can appoint a guardian for your minor children in your will, specifying who will care for them if you pass away.

10. What role does a notary play in estate planning in Lithuania?

A notary in Lithuania can assist with creating and certifying legal documents related to estate planning, ensuring they are valid and enforceable.

Additional Resources:

For more information on estate planning in Lithuania, you can contact the Chamber of Notaries of Lithuania or consult the Ministry of Justice for legal guidance.

Next Steps:

If you require legal assistance with estate planning in Lithuania, consider reaching out to a qualified attorney who specializes in this area of law. They can help you draft a comprehensive estate plan that reflects your wishes and complies with local regulations.