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WHY
YOU SHOULD MAKE A SPANISH WILL |
When you make the decision to buy a property in Spain you are far
more likely to be concerned about your future enjoyment of the property
than what is likely to occur upon your death.
However,
as with any other substantial asset the prudent investor should
consider the issue and make the necessary provisions to ensure that
family and other loved ones will eventually benefit.
If
you own a property in Spain it is advisable but not essential that
you make a Spanish Will. If you do not and instead rely on your
English Will or the laws of intestacy (if there is no Will) then
you will find there will be increased bureaucracy and administration
costs in dealing with the Estate as the relevant documents will
need to be translated and notarised.
Making
a Spanish Will is a reasonably straight-forward matter. The most
popular way is for the Will to be executed before a Spanish Notary.
It may however be advisable to employ the services of a lawyer beforehand
in order for him to prepare a draft of the Will in accordance with
your instructions.
The
Will in most cases is a reasonably simple document reciting those
members of your family and friends who you wish to see benefit from
your estate. It is not normal procedure as in an English Will to
appoint Executors as the Spanish authorities consider it to be the
responsibility of the beneficiaries of the Will to deal with the
Estates administration.
As
a foreign national the Spanish civil code allows you to leave your
Spanish assets in accordance with the national law of your country
of origin. An English person would not therefore be obliged to leave
a proportion of his estate to members of his family as is required
of a Spaniard.
Once
a Will has been executed you should ask for a copy of it known as
a "Copia Simple" from the Notary who will ensure the original
is filed in his record, whilst a further copy will be sent to the
Central Wills Registry in Madrid as an official record.
Those
property owners who take the time to consider the future devolution
of their Spanish assets will find they have made a sensible decision.
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