This follows on from a couple of answers he gave to questions posed about Spanish Inheritance Tax – just one of many money matter topics you often ask him about.
Robin’s a qualified independent financial advisor – his company fully regulated both in Spain and other European countries.
You can learn all about him on this page and, if you’ve any questions or would like financial advice … just fill in the simple form you’ll discover there.
YOUR QUESTION …
Is it advisable for expats in Spain to make a Spanish Will, even if they already have an English Will?
ROBIN’S ANSWER …
Yes it is advisable, as it makes things a lot simpler to sort out when dealing with Spanish assets. This now appears to be something of an understatement.
If you have a UK Will then, theoretically, this could cover Spain.
However, the problem comes with the fact that you speak English and, strangely enough, the authorities in Spain speak – wait for it – Spanish!
This means that all documents will need to be translated … That’s the Death Certificate, the Will and the Grant of Probate.
They will require apostils and ultimately the authorisation from the Notary in Spain.
There is no guarantee that the Notary will accept the wording of the English Will.
Firstly this all means cost. Secondly, time … It could take years to sort through everything.
Keep it simple. Make a Will in Spain.
Making a Will does not mean you’re going to die the next day … honest! (My hand is firmly tocanda madera!) And, even if you did, what fantastic news for your inheritors … Not because you’ve died, but because you’ve not left them a mountain of problems!
FINANCIAL ARTICLES BY ROBIN FOR EXPATS IN SPAIN
- The Spanish Inheritance Tax (Guide & Advice)
- Ten Best Investment Ideas in Spain
- Spanish-Approved Investment Bonds (Part 2)
- Spanish-Approved Investment Bonds (Part 1)
- Qualifying Recognised Overseas Pensions Scheme (QROPS)
- Protecting Your Spanish Savings (Secure Your Future)
- Making a Spanish Will (Advice for Expats)
- Investing is Like Golfing (Free Financial Tips)
- Income Investing in Spain
- Deposit Account Alternatives in Spain