If you own property in Spain, you may have heard that it is advisable to prepare a Spanish will. While it is possible to rely on a will made in another country, having a specific will covering your Spanish assets can make a significant difference when the time comes to administer the estate.
Below are some of the main reasons why foreign property owners in Spain should consider putting a Spanish will in place.
1. Ensuring Your Spanish Assets Go to the Beneficiaries You Choose
A Spanish will allows you to clearly specify who should inherit your assets located in Spain.
Although a foreign will can also apply to Spanish property, it may be difficult for Spanish authorities to interpret its provisions, particularly if the legal terminology or structure is unfamiliar under Spanish law.
Having a Spanish will helps ensure that your intentions are clearly understood and properly implemented when the estate is administered.
2. Making the Inheritance Process Faster and Simpler
A Spanish will usually makes the inheritance process much easier and quicker for heirs.
Spanish notaries are familiar with wills drafted according to Spanish legal formalities, which allows them to proceed with the inheritance process more efficiently.
In contrast, when only a foreign will exists, additional steps may be required to confirm its validity and applicability in Spain.
3. Avoiding Unnecessary Costs
Having a Spanish will can also help reduce administrative costs during the inheritance process.
If the only will is a foreign one, it will normally need to be:
- Officially translated into Spanish
- Apostilled
- Supported by additional documentation such as probate certificates or legal reports on foreign law
These requirements can increase both the time and cost of the inheritance process.
If no will exists at all, the situation can become even more complex. In such cases, a declaration of heirs/letters of administration must first be carried out before the inheritance can be formalised.
4. Planning for Spanish Inheritance Tax
Preparing a Spanish will also provides an opportunity to obtain legal and tax advice regarding the future distribution of your estate.
With proper planning, it may be possible to structure the inheritance in a way that helps mitigate potential Spanish inheritance tax liabilities, depending on the circumstances of the heirs and the applicable regional rules.
5. Coordinating Your Spanish Will With Other Wills
A Spanish will does not replace wills you may have in other countries. Instead, it can be drafted specifically for assets located in Spain and coordinated with your existing wills.
This approach ensures that each will applies to the assets located in the relevant jurisdiction while avoiding conflicts between different documents.
6. Choosing the Law That Will Govern Your Estate
Under European succession rules, the law governing your inheritance may depend on your habitual residence at the time of death.
If you live in Spain and do not have a will, Spanish succession law may apply by default. This could mean that certain portions of your estate must be reserved for specific family members.
However, by preparing a Spanish will you may be able to choose the law of your nationality to govern your succession, depending on your circumstances.
This can provide greater flexibility when deciding how your estate should be distributed.
Final Thoughts
For foreign individuals who own property in Spain, preparing a Spanish will is often a simple but very effective step to ensure that their estate is administered smoothly and according to their wishes.
Proper estate planning can provide clarity, efficiency and peace of mind for both the property owner and their heirs.
Need Advice on Preparing a Spanish Will?
If you own property in Spain and would like to prepare a Spanish will, obtaining legal advice can help ensure that the document is correctly structured and coordinated with your existing estate planning.
Our firm assists international clients with Spanish wills and inheritance planning, helping ensure that their Spanish assets are properly protected.
If you would like further information, feel free to contact us for tailored advice.