Best Estate Planning Lawyers in Sliema

About Estate Planning Law in Sliema, Malta

Estate planning in Sliema, Malta, is the process of arranging for the management and distribution of a person’s assets after their death. It includes preparing legal documents such as wills, trusts, and powers of attorney to ensure that your wishes are respected and that your loved ones are cared for. Maltese estate planning is influenced by both civil law traditions and unique local rules, so it is important to understand how these laws operate within the specific context of Sliema and the wider Maltese Islands.

Why You May Need a Lawyer

There are several common situations where you may require legal assistance for estate planning in Sliema:

• If you own property or assets in Malta and wish to determine how they will be distributed
• If you want to make a will or update an existing one
• If you have children or dependents and want to nominate guardians
• If you have family members with special needs or complicated family structures, such as blended families
• If you manage a business and want to plan for succession
• If you are concerned about inheritance tax, legal obligations, or minimizing disputes among heirs
• If you have assets or beneficiaries in different countries and require advice on cross-border inheritance matters
• If you need to set up trusts or foundations for asset protection or charitable purposes

A lawyer with experience in Maltese estate planning can guide you through the process, help to avoid costly mistakes, and ensure compliance with local laws.

Local Laws Overview

Estate planning in Sliema is governed by Maltese civil law, primarily contained in the Civil Code. Here are key aspects:

• Forced Heirship: Malta has strict forced heirship provisions. Certain portions of your estate are automatically reserved for close relatives, such as children and spouses, and this can affect how you dispose of your assets through your will.
• Wills: You can draft public, secret, or holographic wills. Each type must follow specific formalities to be legally valid. Most people opt for a public will drawn up before a notary and witnesses.
• Inheritance: In absence of a valid will, assets are distributed according to intestacy rules, which prioritize blood relatives in a prescribed order.
• Donation and Gifts: Lifetime gifts, or donations, are also regulated by local law. Some gifts may be collated when calculating inheritance shares.
• Succession Tax: While there is no inheritance tax in Malta, there may be stamp duty payable on the transfer of immovable property or shares in certain companies.
• Powers of Attorney: You can appoint someone to act on your behalf using a power of attorney, which ceases after your death or loss of capacity unless otherwise provided.
• Cross-Border Inheritance: Individuals with foreign ties must consider both Maltese and international succession laws, including EU Regulation 650/2012, which may apply.

Frequently Asked Questions

What is a will and why do I need one in Malta?

A will is a legal document that details how your assets should be distributed after your death. Having a will ensures your wishes are respected and can simplify the probate process for your loved ones.

What happens if I die without a will in Sliema?

If you die without a valid will, the Maltese intestacy rules will determine how your assets are distributed among your closest family members according to a set order outlined in the Civil Code.

Can I choose anyone to inherit my property?

No, under Maltese law, certain portions of your estate must go to close family members such as your spouse and children, due to forced heirship provisions. You are free to distribute the remaining portion as you wish.

How can I ensure my minor children are taken care of?

You can name guardians for your minor children in your will. However, this nomination is subject to approval by the Maltese courts, which will always consider the best interests of the child.

Is there inheritance or estate tax in Malta?

There is no general inheritance or estate tax, but stamp duty may be payable on Maltese property or shares received as inheritance.

Can foreigners draft a will in Malta?

Yes, foreigners who own property in Malta can draft a Maltese will to cover those assets. It is important to consider any international laws that may apply to cross-border estates.

How do I change or revoke a will in Malta?

A will can be changed or revoked at any time, provided you are of sound mind. This is typically done by making a new will, which should clearly state that previous wills are revoked.

Do I need a lawyer or a notary to make a will in Malta?

While you are not legally required to have a lawyer, most people use the services of a notary or an estate planning lawyer to ensure the will is valid and correctly reflects their wishes.

What is the role of an executor in Malta?

An executor carries out the instructions in your will, manages your estate, pays any outstanding debts, and distributes assets to heirs. You can nominate an executor in your will.

What should I do if I receive an inheritance in Malta?

You should obtain legal advice to understand your rights and duties as an heir, and to ensure proper transfer of property, payment of stamp duty, and compliance with any other legal requirements.

Additional Resources

For more information or assistance, the following resources and organizations may be helpful:

• Maltese Chamber of Advocates – Provides lists of qualified lawyers in Malta
• The Notarial Council, Malta – Oversees notaries public and can direct you to professionals for drafting wills or notarial deeds
• Office of the Public Registry – Handles formal registration of wills and public records
• Commissioner for Revenue, Malta – For information regarding stamp duty and transfer taxes
• European Consumer Centre Malta – Useful for cross-border succession matters involving EU citizens

Next Steps

If you are considering estate planning in Sliema, Malta, or if you have complex family or asset arrangements, the best step is to consult a local estate planning lawyer. They can:

• Review your circumstances and explain your options
• Prepare and formalize your will or trust
• Advise on the impact of local and international laws
• Coordinate with notaries and tax advisors as needed
• Assist your loved ones in navigating the probate process

Start by arranging an initial consultation, preparing a list of your assets, and considering your wishes for your estate. Professional guidance ensures your assets are protected and your wishes respected according to Maltese law.