It is all too common for many of us to put off making a will in Spain.
After all, it is very much part of the human condition not to wish to dwell on such matters!
It is often therefore good news to many an expat that putting a Spanish will in place is quick and straight-forward once you have the right assistance.
The reason why it is key to have a Spanish will is that quite restrictive inheritance laws may automatically apply to your estate if you are a Spanish resident.
As a foreigner you may make a Spanish will that expressly applies the laws of your home country to your estate in Spain.
Depending on where you are from, you may decide to apply your Spanish will solely to your Spanish assets and have another will in your home country or in other countries where you hold assets.
This may mean that the administration of your estate will be more easily managed by beneficiaries which is after all the whole point of making a will in the first place.
Another key point for those considering making a will in Spain is that in the case that you have young children, you can appoint guardians should the death of both parents occur.
Moreover, you can appoint administrators to look after their finances until they reach the age of majority.
While the above points are certainly key, our focus at SWAN Partners when assisting clients making their wills is to put in place a clear and readily applicable process for family members left behind, so that unnecessary stress and potential disputes can be avoided.
Our tax team, headed by José Oltra can also assist you with estate planning at both a national and international level.
There are a wide range of tax considerations and many options to take into account.
If you are contemplating making a donation to your children or providing them with a loan to commence their business or purchase a home, we can bring you through the options and assist you with putting a tax efficient solution in place.
So if you would like to make a Spanish will or if you need tax advice regarding estate planning please contact Martin Hayes or José Oltra directly.
SWAN Partners C/ Pizarro, nº 1, 4º-15ª. 46004 Valencia (Spain) + 34 96 334 89 83