If you are about to:
- Get married or divorced
- Draft a will
- Enter a new business
You must plan ahead to protect your assets, whether it is real estate, cash, accounts receivable, and marketable securities.
Through the application of the following measures your assets will be secured
- If you are about to marry, consider the possibility of signing a prenuptial agreement. This agreement allows you to separate your assets from those of your future spouse, guaranteeing that they will not form part of the community property regime established by the Family Code of Panama. Through the prenuptial agreement you can establish which assets fall within the “community of goods” regime and which ones do not.
- If you are getting through a divorce process, it is essential that you have the ability to determine and prove which are your assets, and how to exclude them from the Family Estate.
- If you want to organize or improve the management of your assets, there are several alternatives::
a) The drafting of a will, which helps in determining who your heirs are and how your assets will be distributed;
b) The organization of either a corporation or a private interest foundation, which act as a tool in the management of your estate;
c) Likewise, through a donation contract, the assets can be distributed. - If you are subject to a lawsuit, the following should be considered: the type of claim, the causes of the lawsuit, the amount pursued, and the assets involved. Once these factors are identified, it is recommended to proceed with a legal reorganization of your assets in order to protect them.
