Inheritance
When an international family owns a home in Spain, the inheritance can get complicated if it hasn't been prepared. The good news is that European law has brought order, and that a couple of timely decisions spare the heirs an ordeal of translations, apostilles and deadlines.
The European Succession Regulation. Regulation (EU) 650/2012 allows you, in your will, to choose that the whole succession be governed by the law of your nationality (the so-called professio iuris). If you choose nothing, the law of your country of habitual residence applies by default. Choosing, or not, completely changes who inherits and in what share.
The Spanish will. Our usual recommendation is to make a Spanish will dealing only with the assets in Spain. It greatly speeds up the process, avoids having to translate and legalise foreign documents, and reduces costs and time for the heirs at an already difficult moment.
The tax. Inheritance Tax is administered by the autonomous community, and Andalusia has very significant reliefs for close relatives. It's worth calculating the impact in advance, not once the owner has passed away.
Legal analysis. Three nuances. One: the choice of law under article 22 of Regulation 650/2012 must be expressly stated; many problems arise from not having made it. Two: the United Kingdom, Ireland and Denmark are not bound by the Regulation, but it does apply in Spain to the assets located here of their nationals, which requires coordinating two legal systems. Three: for non-residents, competence for Inheritance Tax lies with the autonomous community where the greatest value of the Spanish assets is located, so being in Andalusia can be very advantageous. We prepare it both for those who want everything in order and for heirs who already have to process a succession.
Do you have a home in Spain and family abroad? We help you plan it out, with no surprises.
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