We consider being very important to have your Wills updated. Care should be taken when considering whether to have an International Will or a Will only for your assets in your home country and another one for the assets in Spain. As English Law is totally different to Spanish Law you should make sure that your solicitor drafts your wills making sure that they are valid in Spain and/or in England taking into account whether you wish your national law to apply or the law of the country of your residence.
With regards to inheritances, especially if the deceased left assets abroad and in Spain, care should be taken with the steps to take in order to process your inheritance in Spain. Probate in the UK may be necessary –or not-, the Will will have to accomplish with the rules of the country governing the inheritance and with the formalities of the country where it was drafted (which may be different to the country to which the assets are). Mind that not always according to English Law you are entitled to leave the assets to anyone you wish as certain people could make a claim against your estate.
In order to draw up a Will and receive a more complete and comprehensive service, we recommend that you always visit a Lawyer, so you can receive all of the necessary information to protect your loved ones, and make sure that your Will is in line with your last wishes. In the planning stages of drawing up a Will is also a great time to start doing tax planning in order to make your estate the most tax-efficient possible, this is also something that your lawyer can assist you with.
What apart from my physical possessions can I include in my will?
Your Will can include legal instructions including the following:
- The appointment of a testamentary guardian if the testator is a parent or a guardian of a minor or a disabled person.
- Expressing wishes or explanations on certain decisions.
With respect to my descendants
The testers can leave more of their estate to one or more of their children than the others depending on what is the applicable law of your will.
With respect to my partner
Here are infinite possibilities and concerns as all marriages are different.
However, you should consider the following:
- Do you have children?
- Do you or your spouse have children from previous relationships?
- Do you want to include your partner’s children in your will?
- Are there other people financially dependent on you?
- Keep in mind that the debts are also inherited unless you say the opposite.
- The Spanish Law is more favourable to the husband/wife than an unmarried couple (even from a Tax point of view).
In general, the Spanish succession Law protects the right of inheritance in favour of the descendants, ascendants, spouse or partner and financially dependent persons of the testator. However, if you are not of Spanish nationality you might have more or even free disposal of your assets if you decide to make a will according to the laws of your home country if you mention so specifically.