Why bother making a Spanish will?

Spanish wills inheritanceFailing to make a Spanish will to take care of your Spanish property and other assets in Spain will cause undue delay and expense in arranging your affairs.Failing to make a Spanish will to take care of your Spanish property and other assets in Spain will make matters more complex and expensive than need be the case when the time comes to deal with your estate. Assets include all property and such things as cars, bank accounts, business interests etc.

The main benefits to making a Spanish will include avoiding expensive and time-consuming legal procedures that, in the absence of a Spanish will become necessary in order to transfer your assets to your beneficiaries.

If a foreign will is relied upon it will need to be legalised and translated. This means hiring legal experts in that country as well as official Spanish translators. The delay in obtaining probate could cause the payment of inheritances taxes to be delayed beyond the legally permitted time-limit (six-months from the time of death) and therefore incur penalty surcharges and interest.

If there is no valid foreign will then the assets are distributed according to the rules of intestacy. This could mean that the assets are distributed in a way very different to that which you would have intended. By making a Spanish will you retain complete freedom to distribute your assets as you wish (unless you are deemed to be covered by Spanish succession rules which in turn depends upon where you are domiciled).

 

Useful Tip: Always make sure to get information on a Spanish lawyer’s professional background as well as the legal fees they will charge before you commit to using their services. If you do need a Spanish lawyer consider this free service from Advocate Abroad – Lawyer Finder Spain

 

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