Last Updated August 13, 2019

Law and Practice

Authors



Baker McKenzie S.A.S. has more than 6,000 lawyers and 77 offices worldwide. Led by Rodrigo Castillo Cottin, the firm's wealth management practice is highly renowned for its high level of expertise working with sophisticated clients in complex multi-jurisdictional reorganisation of assets and tax structures for family groups that lead the most important companies in the country. The firm develops global wealth management strategies that account for all of the applicable tax compliance requirements and commercial issues, which is a benefit given to clients that no other law firm in the country can offer. The firm is the only one with the infrastructure and international connection and co-ordination to offer an international coverage.

In Colombia, a testator only has an unlimited right of disposal over one half of her or his estate that corresponds to the freely disposable portion. The testator may decide upon the beneficiary of the assets comprising the remaining half of the estate, but must respect the compulsory portion that corresponds to his or her heirs.

Certain corporate arrangements (national or foreign) such as life insurance policies and the use of foreign or national legal entities may be implemented when forced heirship rules do not meet the wishes or needs of the testator or his family. The latter by legally allowing assets to be passed down to intended beneficiaries successfully and circumventing Colombian forced heirship rules.

Baker McKenzie S.A.S.

Ave Calle 82
No 10- 62 piso 7
Bogotá, D.C. 110221
Colombia

+57 1 634 1500

+57 1 376 2211

www.bakermckenzie.com
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Authors



Baker McKenzie S.A.S. has more than 6,000 lawyers and 77 offices worldwide. Led by Rodrigo Castillo Cottin, the firm's wealth management practice is highly renowned for its high level of expertise working with sophisticated clients in complex multi-jurisdictional reorganisation of assets and tax structures for family groups that lead the most important companies in the country. The firm develops global wealth management strategies that account for all of the applicable tax compliance requirements and commercial issues, which is a benefit given to clients that no other law firm in the country can offer. The firm is the only one with the infrastructure and international connection and co-ordination to offer an international coverage.

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