A will is a legal document in which a person decides how their assets will be distributed after their death.
No. A will only takes effect after the testator's death. Until then, potential beneficiaries have only an expectation of inheritance. Additionally, a will can be revoked or amended at any time while the testator is alive.
Not necessarily. A will can be a closed will, meaning its contents are kept secret until after the testator’s death. It is usually kept with a public notary.
In Ecuador, wills must comply with specific legal formalities. If these are not followed correctly, it could affect the validity of the will and potentially harm the beneficiaries.
A lawyer can ensure that the will is drafted properly, explains the rules for distributing assets, and assigns beneficiaries according to Ecuadorian law.
For individuals aged 65 and older, there are no notary fees, so you only need to cover the lawyer’s professional fees for advice and drafting.
Apostilles and legalizations are methods of authenticating a document for use abroad.
If you need to use an Ecuadorian document outside of the country, it must either be apostilled or legalized:
Apostille: Required when the destination country is a member of the Hague Convention of October 5, 1961. You’ll need to verify whether the country where you intend to use the document is part of this convention.
Legalization: Needed when the destination country is not a signatory to the Hague Convention. In such cases, the document must be authenticated by the Ecuadorian consul or embassy in that country.
The Ministry of Foreign Affairs and Human Mobility handles the apostille and legalization process, through its various offices across the country.
While not complicated, professional assistance can help avoid unnecessary expenses and delays. The apostille or legalization process may vary depending on the type of document.
And since the Ministry’s offices are not present nationwide, a professional can use their network to ensure the procedure is completed efficiently, without requiring you to travel.
Apostille: $30 per document (as of 2024). Legalization: $25 per document (as of 2024).
A living will is a legal document where a person specifies their preferences regarding medical treatment in the event they are unable to communicate due to serious illness or incapacity.
It ensures that their wishes are respected in critical health situations.
A living will is a legal document where a person specifies their preferences regarding medical treatment in the event they are unable to communicate due to serious illness or incapacity.
It ensures that their wishes are respected in critical health situations.
A lawyer can help you draft a living will by guiding you through the necessary decisions, including:
Consulting with a lawyer is important, as living will regulations can vary by country. A lawyer will ensure your living will is legally valid in Ecuador and aligned with local laws.
Although there is limited regulation regarding living wills in Ecuador, they are not prohibited, and their application is possible. Our law firm has successfully helped clients draft and implement living wills.
A contract is a legal agreement in which the parties commit to performing (or refraining from performing) certain actions in favor of another.
Contracts are essential for conducting business as they establish clear expectations and obligations for all parties involved.
Contracts help to provide transparency and clarity about the business being conducted, putting pressure on the parties to properly fulfill their obligations.
A contract provides:
While verbal agreements can be legally binding, they can lead to complications if a dispute arises. Without a written contract, it may be difficult to prove the terms of the agreement in court. Therefore, it’s highly advisable to have a written contract.
If a contract is breached, you have several legal options, including: Enforcing the agreement, Terminating the contract, Seeking restitution or compensation for damages caused by the breach.
Contracts are governed by the principle of freedom of contract, meaning the parties can freely agree on terms, provided they don't violate the law.
Common clauses include: Identification of the parties, The purpose and object of the contract, Rights and obligations, Deadlines and payment terms, Dispute resolution methods, Termination clauses, penalties, confidentiality, etc.
Yes, it is highly recommended to consult a lawyer when drafting a contract. A lawyer can ensure the contract is legal and includes the necessary clauses to protect your interests, especially if a dispute arises in the future.
A power of attorney is a legal document in which one person (the principal) grants another person (the agent) the authority to act on their behalf.
A power of attorney is a legal document in which one person (the principal) grants another person (the agent) the authority to act on their behalf.
Yes, powers of attorney can be general (broad authority) or special (limited to specific actions or areas). The grantor can specify exactly what powers are entitled to his representative.
Yes, the representative can delegate it to a third party, but he is responsible for this delegation unless the grantor has specifically authorized him to do so.
It is necessary to pay attention to the powers of delegation, since powers are usually given to trusted people.
While Ecuadorian law does not require a notary for all powers of attorney, most public and private institutions may request notarization for validity. It's advisable to have a lawyer involved to ensure the power of attorney is valid and that the representative has the necessary faculties to accomplish his duties.
Yes, it’s recommended to consult a lawyer when drafting a power of attorney.
A lawyer can help clarify which faculties are needed and ensure the document is properly signed and notarized for all relevant procedures..
