The National Assembly of Costa Rica plans to hold the second debate of Bill No. 20,260 during the session Thursday night, July 5th. The bill will allow the designation of heirs for savings and checking accounts and investments in case of the holder’s death. The deputies are expected to ratify the bill and transform it into law without delay, given the initiative’s unanimous approval in the first debate.

In case of approval, the holder of these financial instruments will have the possibility of defining who will assume the full ownership of the funds (deposited or invested) on the occasion of their death. The General Securities Superintendency (Sugeval) will be in charge of checking compliance with the new norm, once the Executive branch enacts it.