Legal tip 1296. Should I grant a new Spanish Will?
Monday, May 11, 2015 @ 10:40 AM
What is all that about European Inheritance Law being compulsory from August´15 on? Do I need to grant a new will for my Spanish assets?
Not always. Do not panic.
Read below:
EU Regulation passed in 2012 (650/2012, also knows as Brussels IV) brought simplicity and easiness to international inheritances. For:
1. Every succession to be treated under a single Law and by one authority.
2. Citizens to choose between law of residency and law of nationality for their inheritance affairs.
3. Creation of the European Certificate of Succession
SOME IMPORTANT IDEAS TO CLEAR YOUR MIND:
- It does not imply, in any sense, the alteration of the substantive National inheritance Law of every European Country.
- Matters such as who are inheritors, or how taxes apply are not impacted in any way by this new European regulation.
- This regulation also creates the European Certificate of Succession, which will facilitate the proving of status and rights as heir/ administrator of the estate/ executor of will. This certificate will be issued by the country where the deceased had habitual residency and will provide proof of entitlement in the estate to all signatory countries.
These rules will obligatorily, by virtue of Law apply to all persons dying after 17th of August 2015 so it is important that you make the necessary preventive changes in your will before that date.
You can use this new regulation and choose Nationality Law now, always provided you perform the change according to rules set up in the regulation/ applicable private International Law.
Residency status is determined by facts: duration and regularity of the deceased´s presence in the country. Residency requires close and stable connection with the specific country.
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UK, Ireland and Denmark did not sign the regulation but, any
UK national having habitual residency in Spain and with Estate assets just in Spain is forwarded by UK Law to Spain.
Spanish Courts might understand that the Spanish assets needs to be under Spain Law by virtue of Brussels IV; so,
if they want their national succession Law to be applied to their whole estate,
they need to:
grant a new will stating this.
If they had assets in the UK, Ireland or Denmark a grant of probate will be obviously necessary to administer the UK, Ireland or Denmark assets.
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If you or any of your friends want us to perform an initial free appraisal of the need to grant a new will, you can let us know
Bubión, Las Alpujarras, Granada, South eastern Spain, at facebook.com