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Update Your Spanish Will (Read 2286 times)
Bunter
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Update Your Spanish Will
Sep 17th, 2016 at 11:27am
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Its costs 46 Euros for a will do not put this off.

The directive EU 650/2012 defines different concepts


Foreigners Who are Tax Residents in Spain

The new European Directive 650/2012 came into effect on August 17, 2015. If you are tax resident in Spain, (you file your annual tax declaration), you should state on your Spanish Will that you wish THAT THE NATIONAL LAW OF YOUR EUROPEAN COUNTRY will govern your inheritance.

Failing to do so, your estate will be distributed according to the Spanish Law of Succession in which one third of your estate will go to the children in equal parts, another third must also be left to the children and only one third left has free disposition to be left to the testator’s choice. If somebody is living in Spain but is a national of a different country, they should update their wills.

The directive EU 650/2012 defines different concepts, and they are:

- Article 21 of the Directive:
Unless otherwise provided for in this Regulation, the law applicable to the succession as a whole shall be the law of the State in which the deceased had their habitual residence at the time of death.

EU people living in Spain, under Spanish law, cannot leave everything to the surviving spouse, as they have to follow the compulsory Spanish inheritance law. If you are resident in Spain, unless you establish in your will that you wish that your national law is applicable by the time of death, it will have to follow the Spanish System

- Article 22 of the Directive:
A person may choose by law to govern their succession as a whole under the law of the State whose nationality they possess at the time of making the choice or at the time of death.

This article explains that you can override the compulsory law of heirs by simply stating in your will that you wish for your estate to be governed by your national law. How do you achieve this? You will have to sign a new Will.

An existing will cannot be modified, extended or fixed. A new will always cancels the last one and the last one duly signed in presence of a Spanish Notary Public is the one that prevails.

Every Spanish Will is registered in the Central Office of Wills which is located in Madrid, independently of the city and Notary Public office where the Will is signed.

Consequences:
If you have children but have made a will leaving all assets to your spouse, make sure that you have clearly stated on your will that you wish your national law to govern your succession.

Source of info http://www.essentialmagazine.com/marbella-finance-changes-in-inheritance-tax/
  
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Ritaratbag
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Re: Update Your Spanish Will
Reply #1 - Sep 17th, 2016 at 2:17pm
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We already had wills made in England and Spain.
But needed to change the Spanish wills, recently under new law.
We went along and made completely new wills as it was cheaper and easier that way.
We used Gestoria Cardona, Antoni Cardona/ Balague.
Argentina 9, Tortosa. Tel 977446753.  English spoken.
  
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