Will in Panama- Testamentary Probate case

Re: Does a will avoid probate in Panama?

A will still has to go through a testamentary probate case, which is
quite short if the assets are well described and no challenges are
made. A Panama bank will not hand over assets to a heir, or the
Panama Public Registry convey title to a heir, without the judgment
of the judge on said case. Listing correctly all finca numbers,
share certificates of corporations and account numbers, will ensure
that the probate case is short. The will can be executed as a close
will, which is only opened upon death of the deceased.

The only problem is that it blows away any confidentiality for the
heirs upon the opening of the will.

Attorney fees can be reduced if fees are billed by the number of
hours, instead of a percentage. Involving a Panama attorney BEFORE
executing the will will ensure that less hours are involved in
probate.

Another alternative is a testamentary trust, which will become valid
upon the death of the settlor and does not involve a judge. The
trustee does not have to be a lawyer or a licensed trustee.

Panama has no estate tax. Which does not mean that estate taxes from
the decedent's country are not applicable...