Get yourself a Spanish Will

"In this world, nothing can be said to be certain, except death and taxes”. Those wise and somewhat sad words were uttered by Benjamin Franklin in 1789, and of course, nothing has changed in the meantime.

So, the firm recommendation is to get yourself a Spanish Will prepared, if you own a Spanish property and/or have assets in Spain. It will not override any Will you have organized in the UK or Ireland. It will simply allow your beneficiaries to deal with your Spanish Estate and assets speedily and this is important. In Spanish Law, they have 6 months from the date of death to pay IHT (Spanish Inheritance Tax). It is most unusual for the English probate to be dealt with in time to allow this deadline to be met – and this will result in the accrual of tax surcharges and interest.

As already revealed, you can include your Spanish property and assets on your UK or Irish will and leave it at that. However, after death, before the inheritance procedure can begin, an official translator, the Foreign Office, and lawyers will have to become involved – but that takes time and will cost money. It seems to be prudent to arrange a Spanish Will in the first place.

While in Spain, there are strict rules about who can and cannot inherit, but they do not apply to you. As a UK or Irish national, you can choose who you want the inheritor/s to be.

In theory it is possible for you to make your own Spanish Will. It would need to be translated into Spanish by a qualified translator, and be presented to a Notary Office for signature for the document to become legal. Another downside is that although the Notary will be able to advise on legal matters – they are not qualified to talk about inheritance tax or the pitfalls and advisability of the inheritance arrangements you are proposing. Consequently, it seems sensible to arrange for a Spanish Will and have it professionally prepared. As property advisor's based in Moraira, we obviously come across these needs on a regular basis as it's all part of the buying process and related services, therefore are able to suggest some local lawyers that can help if required.

Posted by on Monday 2nd September 2013

Anthony Bloom is the founder of the Moraira based Spanish Property Sales C.B business.
Established in 2002, Anthony and his partner Sally Bloom have dedicated themselves to the needs of the property purchaser. You can see their client testimonials! and their Google+ page



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