Hello, my name is Bruce Johnson and I have just bought a property in Spain.
Could you please tell me if I need to make a Spanish Will.
Thank you for your question,
It is very advisable to make a Spanish Will for several reasons:
1.-If you have a Spanish Will, this could bring significant time and money saving for the inheritors, for example the inheritor don’t need to wait for the paperwork of the inheritance in your home country.
If you don’t have a Spanish Will the inheritor will have to wait until the official document from your country be received (documentation that will need to be duly legalized or with an apostille and it must be translated by a national public translated). As all this process can take long, you might incur in penalties as in Spain, considering that the deadline to proceed with the inheritance taxes within six months from the date of death.
2.-If you are tax resident in Spain and intestate the inheritance will be applied by Spanish law.
So if you do not want the Spanish law then you should make a Spanish will where you will free to appoint as inheritor the persons or organizations that you choose (according with your country law) On the other hand, in Spain the inheritance TAXES were very high for non residents, now the Law 26/2014 recognizes that citizens residing in the European Economic Area can benefit like the Spanish from regional Inheritance and Gift Tax law. Therefore, if you have paid inheritance taxes in the last years, it is important for you to review the inheritance paid as could then claim any difference that may remain.
Contact us and we will help you. [email protected] tl 678873844 Gonzalo Blanco Marques de Campo 66,1c Denia.Alicante Reina 21,1 Xativa.Valencia http://lawyerblanco.blogspot.com.es/ tlf:678873844