If
you are non-resident,
then you should have a Last
Will & Testament drawn up to distribute
your Spanish assets in the event of your death.
The Spanish
Laws
on Inheritance state that, on your death,
your estate will be shared among the heirs
as per the law of the country from which you
originate, i.e. German Law for German nationality,
British
Law
for British nationality. Most European nationalities,
with the exception of the British, should
therefore be warned that, as per their country’s
Laws of Inheritance, the children have an
automatic right to a part of the Estate on
your death, even if they are not expressly
mentioned in your Last Will and Testament.
If, however, they do not wish to claim their
legal share of the Inheritance, the children
must, on your death, “renounce”
their right in front of a Spanish
Notary,
and the estate will then be shared among whomever
you may have designated in your Last Will
and Testament. British
owners should also note that, although
Spanish Law states that British Law applies
in the event of your death, British
Law then throws the ball back and
states that it is the Law in the country
where the asset is situated, i.e. Spain,
which determines the legal
heirs. Spanish Notaries,
however, generally practice the application
of British Laws of Inheritance in such matters.
To avoid any misunderstandings and to hasten
the legal
procedure after death it is, therefore,
advisable for most people to prepare a Spanish
Will and Testament relating to their
property and assets here in Spain. This
can easily be prepared for you by your Fiscal
Representative (Gestor)
or lawyer, who will then make an appointment
at the Notary Office for you. Separate Testaments
must be prepared (Spain
does not accept joint Wills) and
the approximate costs for the Notary are
70 Euros
per Testament.
Source:
HR
Consultants
See also
Duties of the Heir(s)
Residency
& Tax: Spanish Inheritance & Gift
Tax |
