Preparation of a Will for a non Spanish who owns property in Spain always involves complex considerations as to which law should be applied when it comes to winding up the estate.
Wills and state planning
Preparation of a Will for a foreign client who owns property in Spain always involves complex considerations as to which law should be applied when it comes to winding up the estate. Domicile, nationality and the location of the property will be relevant and some rules may prevent the Testator from disposing of his estate as he wishes. One also needs to take Spanish Inheritance tax into consideration. A scheme which is effective under English law may be counterproductive in Spain.
We can help you to ensure that as much as possible of your estate passes to your intended beneficiaries and not to the Spanish Revenue. We will prepare your Will in Spanish/English dual column format and arrange for execution before a Notary in Spain or in England and have it registered with the Wills Registry in Madrid.
Dying intestate can make things very difficult for those left to deal with your estate . It will cause complications due to whether your own home rules apply as you are foreign or whether the Spanish rules apply. As a result the process between the lawyers and tax officials can be quite lengthy and costly.
It is in your advantage to make a new Spanish Will as soon as possible: making a Spanish will is easy, quick and not expensive. It will make things easy for your heirs and can save a lot of tax.
Although foreign Wills are valid in Spanish inheritance cases, it is advisable to have a Spanish will to avoid complications during the inheritance process. Spanish law requires that two-thirds of an estate must go to the children, as compulsory heirs.
The most commonly used form of will is the “open will”. It is usually in double barrel column format, in both Spanish and English. This is signed before a Notary Public and is directly enforced without the need for grant of probate. The Notary Public will keep the original and a copy is sent to a central registry of wills in Madrid.
We can provide personalised consultation and assistance to individuals in the areas of tax and estate planning when they consider making a Spanish Will.
We are here to help
Fill in the form and we will contact you within 24 hours with the answers or the information requested.