ASSET MANAGEMENT THROUGH A TRUST IN NICARAGUA

When a person inherits real estate in Nicaragua while residing abroad, various challenges may arise in managing these assets. These challenges can range from effective property management, payment of municipal taxes, fulfillment of tax and legal obligations, to ensuring the protection of the assets against local risks. In such cases, entrusting a fiduciary company like Central Trust may be the best solution to guarantee that the assets are managed efficiently, safely, and in accordance with Nicaraguan law.

A trust is a legal tool through which a person (the trustor) transfers the management of their assets to a fiduciary entity (Central Trust), which will manage these assets for the benefit of the beneficiaries, as stipulated in the trust agreement. In the case of inherited real estate, this service ensures that the property is professionally managed, providing peace of mind to beneficiaries residing outside the country.

Benefits of Hiring the Fiduciary Services of Central Trust

Professional Management: Central Trust has experts in real estate management who handle all operational aspects of the property, such as maintenance, tax payments, and relationships with tenants if the property is rented.

Legal and Tax Compliance: Keeping up with the tax and legal obligations of a property in Nicaragua can be complicated for people living abroad. As fiduciaries, we ensure compliance with all local requirements, avoiding penalties and legal issues.

Asset Security: By placing the property in a trust, it is protected from possible foreclosures or disputes that may arise, as it is under the management of Central Trust, acting in the best interest of the beneficiaries.

Resource Optimization: If the property generates rental income, the trustees can efficiently manage these funds, ensuring they are distributed or reinvested according to the instructions of the trustor or beneficiaries.

Local Representation: For heirs residing outside Nicaragua, Central Trust can act on their behalf before any local entity, whether governmental or private, without the need for the beneficiaries to be physically present in the country.

When an inherited property enters into a trust with Central Trust, our entity becomes legally responsible for its management. This includes:

Maintenance and Repair Management: We ensure that the property is kept in optimal condition by hiring maintenance and repair services when necessary.

Rental Management: If the property is intended to be rented, we take care of finding tenants, drafting lease agreements, collecting rents, and distributing the income to the beneficiaries.

Tax Compliance: Central Trust handles the calculation and payment of local property taxes, as well as any other related financial obligations.

Ongoing Communication with Beneficiaries: We keep the heirs informed through regular reports on the property's status, its market value, and any income generated.

Managing inherited property from abroad can be a complex and risky task without the proper advice and support. At Central Trust, we provide personalized fiduciary solutions to ensure that real estate is managed with the highest efficiency and professionalism. Our services offer the peace of mind of knowing that your assets in Nicaragua are in good hands, no matter where in the world you are.

Trust Central Trust for the management of your inheritance in Nicaragua!