A good death is one that is planned ahead of time

By: Garland M. Baker B.

Exclusive to A.M. Costa Rica

Editor's Note: While this article was accurate at the time of publication, some information may now be outdated. We are currently preparing a comprehensive update. Sign up for our Alerts to be notified as soon as the revised content is live!

There is a wild misunderstanding in Costa Rica about dying without a will. Most people believe if they do not have one, the government will take everything.  This is not true. Here is a closer look.

What does happen is crooks steal the real property in some cases.  Money sits in the bank without disbursement. And, personal property disappears quickly. The rule is first come, first served.  One well-known painter came to Costa Rica in 1971 and died in 2003. His entire portfolio was lost to theft by family members. They had no clue as to its true value and squandered it away.

Another man who died early this year put all his money for safekeeping in his girlfriend’s bank account.  When he died, the money went poof and was gone. Most expats have nightmarish stories regarding this matter.

Here's another option to do banking in Costa Rica

By: Garland M. Baker B.

Exclusive to A.M. Costa Rica

Editor's Note: While this article was accurate at the time of publication, some information may now be outdated. We are currently preparing a comprehensive update. Sign up for our Alerts to be notified as soon as the revised content is live!

Expats and foreigners have an alternative to banks for their financial needs in Costa Rica: Financieras.  They are good, solid options too, offering substantially higher returns on deposits and other investments than banks. Two-year certificates of deposit return as much as 5 percent in U.S. dollars. They are also more friendly, eager to answer questions and solve customer needs. Much more so than banks, most of which are bureaucratic monsters. 

They are very secure choices because they are monitored closely by the Superintendencia General de Entidades Financieras, the governmental organization in Costa Rica that supervises the stability of the country’s financial system. 

The top picks are financieras Cafsa, Desyfin, Comeca, G&T Continental and Multivalores. Desyfin and Comeca have Websites in English. Cafsa and Desyfin offer Internet Online Banking.