Do you own an asset in Spain?
A house, a car, a bank account or maybe a boat?
If so you need to make sure you have a proper Spanish will in place, to meet the new regulations which came into force on 17th August 2015.
My Lawyer in Spain wants to remind people who own any asset in Spain that this new regulation is now in force.
So what does this mean to owners of Spanish assets?
Basically, if someone passes away without having a Spanish Will (with all the proper clauses) in place, there is a risk of having the standard Spanish Law ruling applied to the distribution of the person’s Spanish assets. This could be very different from what an individual would prefer or even have expected to be done with their Estate.
Distribution of assets under Spanish Law is very different to other countries, for example in the UK, there is usually free disposal of assets, meaning you can leave your Estate to who ever you wish. However, in Spain we must leave two thirds of the Estate to the children of the deceased, which has a potential huge impact for any surviving spouse.
Having a well thought out, professionally written Spanish will will ensure that your assets will be passed down in the manner in which you intended, when the time arises.
Contact one of the specialists at My Lawyer in Spain who as qualified English Lawyers and Spanish Abogados will advise you on how to protect your assets and ensure they are left to the benefactors you intended.
