Will and testament in Spain – draft your wll before 17 August 2015 and let CS Abogados lawyers with offices in Torre del Mar and Torrox Costa assist you
The European Council have been discussing improving the status quo and on the 4th of July 2012 a new legislation was passed, colloquially known as the Brussels IV. The new European Union rules now known as EU 650/2012 regulations are applicable to successions to all member states (ECS state) as of August 17th 2015. The UK, Eire and Denmark have opted out suggesting incompatibility between the differing legal procedures.
Article sponsored by Malaga Estates.
Expats in Spain can and this has been the case to date have the choice to apply either the law of nationality or the law of habitual residence to their succession. The habitual residency choice leaves many inconsistencies as to whether your habitual residence is in the country of residence or the country you were most associated with at time of death. In the latter case the law of succession of that country will govern the succession.
The new regulation will be applicable to all assets in the EU. Mutual recognition of decisions relating to succession in the EU is ensured. Important to note that the regulation is binding and directly applicable in the Member States. Spain for example will be subject to these EU regulations.
We at out lawyers offices in Torre del Mar and Torrox-Costa have received many enquiries about the drafting of wills in Spain, this has been in relation to the new EU regulations on Succession coming into force at midnight 16 August 2015.
Drafting a will is one of the most important duties that you will undertake. Do not leave this to chance, besides the very important clause, there is also to matter of the translation.
This will ensure that the law of nationality will be applied to assets in the Inheritance.
For those concerned about these matters, should seek the advice of a lawyer with expertise on EU successions.
Take note that wills of habitual residents who do not have the clause mentioned above written into their wills, that the inheritance will be executed under Spanish law on succession.
Although the Regulation came into force in 2012, the provisions will not apply until 17th August 2015. That said, Wills can be prepared and executed now, but do take note that up to that date the will you will draft your will stating that you wish for the law of your birth country or nationality to govern your succession. Your present will remains valid if death occurs before midnight of the 16th of August of 2015. There is no guarantee that your wishes will be respected even if the clause is added. For peace of mind, contact with our English speaking lawyer with expertise in this field.