Making a Bulgarian Will

Written by Dave Moore

Making a Bulgarian Will

 

For anyone who’s been through it, sorting through the paperwork and soforth for a loved one is a really upsetting time. Sorting through the paperwork of a loved one who hasn’t put a will in place is even tougher and could leave family members in a position where they have little or no control over how assets, debts and liabilities are distributed.

 

Although many Bulgarian property owners may have a will in place in their own country, the content of the will has little relevance to the Bulgarian probate and property laws and as such to ensure your estate falls into the right hands in the event of death – it is essential you do 2 things;

 

• Make a specific reference to the ownership of Bulgarian property in your Will in your home country.
• Prepare a Bulgarian will to outline your specific instructions for your Bulgarian estate in the event of death.

 

If you are in a situation where you don’t have either a UK or Bulgarian Will in place, I can help you out. Please get in touch on 01142852958 or 07738887555. to discuss.

 

According to the Bulgarian legislation there are two kinds of will: handwritten and notarial. The procedures for both are very different.

 

The handwritten will is prepared by the testator himself. We provide a template which contains specific requisites. You sign the document and send the original to your Bulgarian solicitor. The Will is handed over to a notary public that has certified your title deed after the ownership of the property has been transferred to you.

The risk accompanying this kind of will relates to the condition that the client produces this document by himself and the latter will be kept only by the notary in Bulgaria. There will be no registration or referral to this will in a Public Authority. Therefore, the inheritors might not locate this document if they never come to Bulgaria and to the relevant notary.

 

Under the requirements of the notarial will, the testator should come to Bulgaria and declare his will personally in front of a notary public. This will is prepared as a title deed and the latter has been filed in the Registry Agency in the plighted municipality. The advantage of this type of will is that due to the registration in the Agency future abuses concerning resale of the property will be avoided. Further to the above process, tax evaluation and sketch of the property should be issued as well as in compliance with the Agency requirements.

For the sake of the issue of the above documents, the testator should have Bulstat card.

 

You may ask yourself, why do I need a will in both countries? Surely my intentions upon death will be seen to in both countries? Unfortuantely due to different laws in terms of property ownership, tax burdens and probate mean that in order to look after your Bulgarian affairs, you need an executor that understands the local practices to act in your best interests. Only by having a Bulgarian will in place can this be assured. For further details about why this is important speak to the official that wrote your will. If you don’t have a will – please get in touch with me so I can assist.

For details about the costs associated for preparing your Bulgarian Will, please get in touch.
 

Please don’t leave yourself in position where your asset could go to waste because you haven’t put a will in place. Call me now to get the ball rolling. 01142852958 or 07738887555