Spanish inheritance law
The inheritances in Spain, compared to other countries are quite different. Therefore, it is important to take into account the details of the Spanish inheritance law and take measures to ensure that our elders fulfill their wills and that their assets are protected and insured for those who matter to them.
The spanish inheritance law
While in other countries, the Inheritance Act allows that when the will is made, the inheritance can be left to whomever is desired, in Spain there are certain limitations. Children and spouses are the legal beneficiaries and only one third of their properties can be bequeathed as desired.
Since 2015, those residents who live in Spain and who are citizens of another European country, have to declare in their will in Spain if they wish to apply the Law of Heritage of their country. If you do not have any will, the current Law in Spain will apply.
It is highly recommended to make a will in Spain, because it also helps to simplify the process when beneficiaries inherit. Thanks to the will, the documentation that has to be gathered is less complex and the procedures are carried out faster.
It is recommended that the husband and wife make the estate separately, which is prepared as a bilingual document, with text in Spanish and in another selected language. Subsequently, the will must be taken to the Notary where it will be signed and certified. The notary will keep the original and a copy will be sent to the client.
In this case, the testament will be registered in the Central Register of Wills of Madrid or Central Register of Last Wills. In this way you can easily find the last will of the deceased.
If we talk about a property, before it can be registered in the name of the heir, a declaration of the Inheritance Tax must be presented and, if necessary, the corresponding inheritance tax must be paid.
If you need to go deeper into this topic, it is best to consult with experts so they can study your case and offer real solutions to what you really need.