Consultation ( SPANISH WILLS FOR ALL WORLDWIDE ASSETS )
My wife and I are British nationals, although we have been living in Spain for many years now. We have now decided to make our Spanish Wills, as it is here where most of our assets are located. We would like to know if we can grant a Spanish Will to include our assets abroad. Can this be done with all legal guarantees and without worrying that this could lead to problems in the future?
As we have previously pointed out, owners of properties situated in Spain should grant their Spanish Will as this gives significant advantages. And also reduces costs by simplifying the formalities of the Spanish Inheritance process. With there being no need to wait for documents from your home country, no need to translate and apostille them in order to make them legally valid in Spain.
It is possible to include your assets located outside the Spanish territory in your Spanish Will.
In cases like yours, where most of the assets are located in Spain, and you only keep a bank account in your home country, for example, then it certainly would be an interesting option.
We advise you to enclose all your assets in your Spanish Will and use this document granted in Spain to process the inheritance in your home country. When it comes to the moment, your heirs will be able to obtain official recognition by means of Probate without relevant problems, as our experience has shown.
However, there are certain circumstances where we think it is not advisable to include your assets situated abroad. This would be the case, if for example, you use formulas for tax-savings, or you wanted to arrange a complicated Will appointing as beneficiary a trust which is a legal entity not recognized in Spain, etc.
Certain dispositions which are completely usual in your country may difficult the drafting, interpretation and execution of your Spanish Will.
On balance of the above, in most cases it is not only possible, but also advisable to make a SPANISH WILLS FOR ALL WORLDWIDE ASSETS (Spain and abroad).
Our firm can help you to draft the Will, not only in Spanish language, but also in your native language. This will simplify the process in your home country.
If you have further questions and doubts in connection with Spanish Wills not only for your Spanish assets, but also for your assets abroad, please let us know. Our experts will be pleased to give you proper advice on the matter.
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The information provided in this article is not intended to be legal advice, but merely conveys general information related to legal issues.
Carlos Baos (Lawyer)
White & Baos
Tel:+34 966 426 185
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