Spanish will

Started by Billington, October 21, 2016, 15:48:23 PM

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Billington

Hi people
Can anyone tell me if I already have a uk will.Do I also need to have a Spanish will if I own a property in fuereventura.

Johnrgby2

#1
Quote from: Billington on October 21, 2016, 15:48:23 PM
Hi people
Can anyone tell me if I already have a uk will.Do I also need to have a Spanish will if I own a property in fuereventura.

My belief is yes, it protects the property under Spanish law, and as it can be done for €50, it would be silly not to we have both, but then we are residents.

Windermeregolfer

Some may say no but I would def say YES, in the last 7 months we have bought on the island and done Spanish Wills and updated our UK wills they are mirror wills and on the death of the second our Spanish Estate is left to our UK Executors to be dealt with as part of our UK estate. That was the advice of our UK Lawyer.

SheilaW

Your kids or whoever might or might not save money if you have a Spanish will, but it will certainly ease the admin for them. I'm not sure there's an absolute requirement though.

emmi

I just found the following on Google.  The wording of the will for deciding which national law will apply, is different if you are Resident in Spain or Non Resident:
"If you are a non-resident then there is no need to change your Spanish wills. Non-residents are allowed to follow the law of the country where they actually reside permanently. If you are a UK resident then you can follow British law of succession in your Spanish will without having to actually stipulate this. British law of succession allows free choice of inheritors. If you are a resident in Spain you will have to include a special clause in your will if you wish to be exempt from following Spanish law which applies 'forced heirs' and not free choice of heirs. Spanish succession law dictates that a large portion of the estate has to be left to the deceased's children. "

I think this was applied just last year....

caza

Yes , we were advised to get a will for our property we purchased in May this year .
We also have a UK will ,

Can the Man

We were advised to do the same, and because when I bought the property my solicitor recommended to put the property in both names, meaning we ended up having to make 2 Spanish wills, where we each leave our 1/2 of the property 50% each to our 2 children.

We have each stated in our Irish wills, that there are a Spanish will covering Spanish properties.

This dual ownership also means we have to each do annual returns, and pay fees etc. on the double.  >:(

Windermeregolfer

Quote from: Can the Man on October 22, 2016, 01:41:51 AM
This dual ownership also means we have to each do annual returns, and pay fees etc. on the double.  >:(

I thought I has read some where that they split the annual tax bill when there is joint ownership

bksk2004

We also have joint ownership and over the past couple of days completed my annual tax forms to be paid in on my visit at the beginning of next month. The instructions for completion do indeed state that you split the value of the property between you and pay 50% on each tax form.

Hope this helps.

BK

Can the Man

Quote from: Windermeregolfer on October 22, 2016, 11:17:02 AM
Quote from: Can the Man on October 22, 2016, 01:41:51 AM
This dual ownership also means we have to each do annual returns, and pay fees etc. on the double.  >:(

I thought I has read some where that they split the annual tax bill when there is joint ownership

That is correct John but there are other things that you pay on the double, for example your non residents fe, bank charges on a joint account

Windermeregolfer

Quote from: Can the Man on October 30, 2016, 01:26:52 AM
Quote from: Windermeregolfer on October 22, 2016, 11:17:02 AM
Quote from: Can the Man on October 22, 2016, 01:41:51 AM
This dual ownership also means we have to each do annual returns, and pay fees etc. on the double.  >:(

I thought I has read some where that they split the annual tax bill when there is joint ownership

That is correct John but there are other things that you pay on the double, for example your non residents fe, bank charges on a joint account

Can looking at the time of this last post you were up late  :D

Yes Can we have already experienced the bank charges  :(

Spike On Q

To change joint ownership of a property in Fuerteventura you need a formally recorded Spanish will and this will must be verified by the authorities as being the last will of the deceased AND the original held by the Notary who it was registered with.  A copy will not do. Along with other papers an Escatura is prepared on which inheritance tax is due to the Gobierno. Once paid the Nota Simple can be updated by the property registry. Even with the will and other paper work being in order it is still a bind and requires alot of running about. Gawd knows what happens if there is no Spanish will!! EU law changed last year saying only one will was required for any number of EU states but I would not risk it and with the UK pulling out of the EU better safe than sorry

keith edwards

Hi All
At last!!
Pam and I are now retired and we are coming over for 31 days next Friday  :) :)
We are non-resident, own a property in Costa Calma and have a UK will leaving everything to each other and eventually to our only son.
As far as I can see on the Forum we need 2 x Spanish Wills to cover out Costa property and that currently there is an option to pass our property onto our son now with the stipulation that we have exclusive use of it for the rest of our lives. This seems to get over the Inheritance Tax issue.
Any thoughts or advice is most welcome.
Many Thanks
Keith Edwards

spitfire58

Can anyone recommend someone that can do realistically priced proper Spanish wills. Need to get this sorted out on next visit. Our solicitor quoted something like 200â,¬ (Having said that, I think 200â,¬ is their "stock" pricing, they also quoted 200â,¬ to set up our direct debits to Antigua council for bins etc. I did it in 15 minutes for nothing at the council office in Antigua with very limited Spanish !!). I have seen people mentioning 50â,¬ on here. TIA

Johnrgby2

Quote from: spitfire58 on April 14, 2017, 21:00:49 PM
Can anyone recommend someone that can do realistically priced proper Spanish wills. Need to get this sorted out on next visit. Our solicitor quoted something like 200â,¬ (Having said that, I think 200â,¬ is their "stock" pricing, they also quoted 200â,¬ to set up our direct debits to Antigua council for bins etc. I did it in 15 minutes for nothing at the council office in Antigua with very limited Spanish !!). I have seen people mentioning 50â,¬ on here. TIA

Spitfire, I do not know where you are situated, but we got ours done with A notary in Caleta â,¬50 each, would have provided a translator for another â,¬30, but fortunately I have a friend who is fluent, gave him â,¬20 job done sends originals to Madrid, gives you English copies.

fifi

Quote from: keith edwards on April 14, 2017, 11:28:30 AM
Hi All
At last!!
Pam and I are now retired and we are coming over for 31 days next Friday  :) :)
We are non-resident, own a property in Costa Calma and have a UK will leaving everything to each other and eventually to our only son.
As far as I can see on the Forum we need 2 x Spanish Wills to cover out Costa property and that currently there is an option to pass our property onto our son now with the stipulation that we have exclusive use of it for the rest of our lives. This seems to get over the Inheritance Tax issue.
Any thoughts or advice is most welcome.
Many Thanks
Keith Edwards

There used to be a gift tax payable when passing property to children. You may need to look into this Keith. I have not kept up to date with the changes. https://www.blevinsfranks.com/News/BlevinsFranks/Article/canary-islands-spanish-succession-tax

Margie4

Can anyone please recommend someone who can do a spanish Will at a good price for us please?

Johnrgby2

Quote from: Margie4 on August 01, 2017, 17:12:46 PM
Can anyone please recommend someone who can do a spanish Will at a good price for us please?

Where on The Island are you?

cockney

Quote from: keith edwards on April 14, 2017, 11:28:30 AM
Hi All
At last!!
Pam and I are now retired and we are coming over for 31 days next Friday  :) :)
We are non-resident, own a property in Costa Calma and have a UK will leaving everything to each other and eventually to our only son.
As far as I can see on the Forum we need 2 x Spanish Wills to cover out Costa property and that currently there is an option to pass our property onto our son now with the stipulation that we have exclusive use of it for the rest of our lives. This seems to get over the Inheritance Tax issue.
Any thoughts or advice is most welcome.
Many Thanks
Keith Edwards

We did this 3 years ago in favour of our grandaughter and did not incur any gift tax. We would recommend this option.

Logitechtom

 We were advised that whilst a Spanish will was not essential, it was highly recommended to avoid a great deal of trouble for the executors of the UK wills.

If only the UK will, it would mean:
1. Get an official translation via a translator approved by Spanish embassy (costs ??).
2.  Executor or executors present translation and original will in person at the embassy (costs, time factor??) for embassy staff to endorse translation.
3.  Executor(s) present these to a Notary in Spain (cost/time), so it can be formally lodged in the Madrid depository.

That's all from memory, so I may have missed bits out.  Suffice to say, when we heard this we decided that Spanish wills was the way to go.

Tom.

Jazza64

Quote from: Margie4 on August 01, 2017, 17:12:46 PM
Can anyone please recommend someone who can do a spanish Will at a good price for us please?

Corralejo

willie5094

Johnrgby2, where abouts in Caleta did you get your Spanish wills. Need to get ours done soon, along with everything else.

Captain Sensible

We made our Spanish wills earlier this year with Fuerteventura Law who are based in Puerto del Rosario.
http://www.fuerteventuralaw.com/contacto.html
https://www.facebook.com/fuerteventuralaw/