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February 12, 2013
Do you plan to write a will? If you are confused about the procedures, documentation and requirements involved in the drafting of your Will, Lexland Lawyers can advise.
Though a British Will is recognised under Spanish law and the Hague Convention, it can be an extremely lengthy and complicated process for the benefactor to receive their inheritance, often resulting in expensive legal and translation fees. If a Spanish Will has not been settled and registered in the Last Wills Central Registry in Madrid, your beneficiary would pass through a highly bureaucratic process and your Will may be ignored entirely.
Likewise, to use a British Will in Spain requires the benefactor to obtain a Grant of Probate no matter the size of the assets; which also requires translation and legalisation at the foreign and commonwealth office. Spain is also famous for its forced heirship rules, which mean that without a Spanish Will, less than a third of your assets will remain in your decision.
Having a Spanish Will is highly advisable, and allows you to ensure peace of mind that your chosen benefactors will receive what they are due without adding further stress to the situation, and can allow you to implement Estate Planning methods that ensure your interests are maintained.
It can be a frightful time when considering writing a will, but with our experienced Inheritance and Tax Planning specialists, we can reduce that stress, and help give you peace of mind that the future of your family, and your legacy, will be preserved as deemed by you. Whether making a will for the first time, requiring advice or a second opinion about Estate Planning or Inheritance Tax, or wishing to contest an invalid Will, our experts at Lexland Lawyers can guide you through the process. Contact us today to arrange a free consultation meeting where we may discuss your options.