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wills

Should I make out a Spanish will?

If you own a property in Spain, then yes, you should. Getting a foreign will recognised in Spain can be a lenghthy process and it is much easier for your heirs to get the property transfered into their names if you have left a Spanish will registered in the Registro de Actos de Ultima Voluntad. If you do not leave any will, it is quite possible that your property will revert to the local or regional governments.

It is therefore of great importance that whatever other wills you may have left in your country of origin or residence, that a Spanish will also be registered.

What assets does my Spanish will cover?

Your Spanish will covers assets within Spain. Any assets in other countries will requiere a foreign will (relevant to that country). We will guide you through the process and insure there are no legal conflicts between your Spanish will and any other.

What can we do for you?

Once we've discussed the matter with you, we draw up the will following your wishes while adhering to the requirements of Spanish law regarding these matters. Once the will is drawn up and in order to validate it, the will needs to be notarized.

You will need to:

  • Provide us with the information for you, your heirs, and anyone else mentioned in your will.
  • Choose a notary (or the location in Spain most convenient to you, and we will contact a notary there).
  • Sign the will at the notary's office.

You will receive a copy of the will and the original will be kept at the notary's office, thus avoiding the risk of loss or theft. In addition, the notary sends a report to the Ministry of Justice, simply notifying the Ministry that the will has been made, without disclosing the contents. In this way, they can tell which is the deceased's last, official will. The record is kept secret until the death of the testator. At that time, we can know what was the deceased's last official will, thus avoiding possible errors that could later prove serious.

What if i want to change my will later on?

To change the contents requires a notary, so you would need to go through the same process.

Inheritance Tax

We understand that dealing with an inheritance at a time of loss is of great difficulty for you. We would like you to feel secure and relaxed by passing all your worries on to us. We will take all the necessary steps to make sure you comply with the Inheritance Law obligations within the required timespan and of course we will do our utmost to reduce your tax burden as much as possible.

The timeframe within which you need to deal with the Inheritance proceedure is 6 months ... after that taxes will increase.

The calculation of Inheritance Tax depends on:

  • The relationship of the heirs to the deceased.
  • Whether or not the deceased was a resident of the EU.
  • The value of the assets and also the region in which the taxes are to be applied.
  • These taxes are based on a scale acording to the points mentioned above.

 


 
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