Your Local Community Magazine
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On August 17th 2015 European Union Regulation 650/2012 will come into force which will impose a new regime for succession in all countries of the European Union except for the UK, Republic of Ireland, and Denmark. Although the new regime will not apply inside those countries, it will affect everyone who has assets in the countries where it will apply, including Spain.
If you die after 17th August your estate will pass either by the law of the country where
you were
“habitually resident” before your death, or if you have chosen in your Will, the law of your nationality.
Long-time British residents of Spain may find that their Spanish assets could be divided according to the Spanish rules which impose a regime of “forced heirs”. What this means is that a certain percentage of a deceased’s assets in Spain must be transferred to their next of kin and/or children.
If you have been married or in a relationship more than once, then your children of previous marriages or relationships may have a right to inherit a share in your estate which you acquired during that marriage or relationship. This right is governed by Articles 968 to 980 of the Spanish Civil Code. There is also a right established in Article 811 of the Spanish Civil Code for parents whose children die before them to inherit a defined share in the estate of the deceased child.
There are some situations where Spanish Law will always apply even to foreigners, for example where the deceased had no assets outside Spain. The purpose of imposing this rule is to prevent conflicts between rules of inheritance.
British citizens are accustomed to having the freedom to leave their property in their Will to whoever they want, or that even if they have not made a Will that their estate will all go to their spouse or children. These new rules could have unintended consequences which could lead to costly family disputes. It is now more important than ever for British citizens with property in Spain to make a valid Spanish Will.
For more information in Spain please contact Ana Gay, Linkpoint Legal 96 626 0500
anagay@linkpointlegal.com or in the UK Michael Olmer, Clapham & Collinge Solicitors 01603 693592
mo@clapham-collinge.co.uk.
Female Focus Widows, Orphans and Wills – By Michael Olmer, Solicitor
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