3 Reasons why I need to do a Spanish Will

There are different reasons why AvaLaw would advise you to do your Spanish Will

The main reason to do a Spanish Will is to be able to choose your national Law as the Law applicable to your inheritance.

If you die in Spain being Spain your last habitual residence, and you don’t have a Will, Spanish Inheritance Law will automatically apply to your inheritance. Since August 2015, the European regulation 650/2012 makes the Law of the last habitual residency of the deceased the law applicable to your inheritance, unless the national law has been expressly chosen by you in your Will. This would be a strong reason why we recommend that everybody who invests in Spain needs to make their Spanish Will.

Roser explains it in this video:

A second reason would be to avoid expenses and time consuming.  If you don’t have a Spanish Will but have a foreign Will, the Beneficiaries will have to bring the Will from abroad to Spain in order to execute it. Therefore, you will need to use lawyers from a foreign country where the Will comes from and also lawyers in Spain, and duplicate the legal costs. With regards to the timing, it will always be more complicated and lengthy, as executing a foreign Will means that you need to make sure you comply with the foreign formalities.

The third main reason we would highlight is to be able to plan ahead the inheritance laws in Spain applicable to you.

For example, if you have got different beneficiaries you will need to understand which tax rates, bonifications, reductions, etc., are applicable to them. Afterwards you can divide your inheritance in the best possible way between your beneficiaries to take advantage of such tax benefits in order to minimize your Inheritance Tax in Spain.

Find out  how AvaLaw can help you here.