Wills
May 16th 2007, 8:27 pm
#16
Joined: Dec 2006
Posts: 5,359
Re: Wills
The problem comes if you are not married and you both die at the same time (e.g. car crash). Then the eldest is deemed to have died first so the assets would pass to the younger partner and from there to their children. So the children of the other partner might miss out. That was the complication explained to me by my Spanish lawyer and your wishes in that situation need to be written in the will.
Jun 14th 2007, 3:21 pm
#17
Just Joined
Joined: Jun 2007
Posts: 13
Re: Wills
I thought that the latest Will would be the current one, as afer all it is the LAST Will & Testament. So the oldest one would fail in a court of law.
Jun 14th 2007, 4:09 pm
#18
Joined: Jun 2006
Location: Granada Costa
Posts: 10,901
Re: Wills
I depends on the wording.
My Spanish will contains three relevant clauses.
The first says:- ... leaves, in their entirety, all present and future assets, rights, credits and shares, held in the name of the bequeather, in Spain.
The second says:- The bequeather states that this will does not prejudice or obstruct any will executed outside Spain.
The third says:- Such is the last will and testament of ...... revoking any previous will which may have been drawn up in Spain.
So if you had a UK will that did not specifically limit itself to non Spanish assets then that will might stand rather than the Spanish will.
My Spanish will contains three relevant clauses.
The first says:- ... leaves, in their entirety, all present and future assets, rights, credits and shares, held in the name of the bequeather, in Spain.
The second says:- The bequeather states that this will does not prejudice or obstruct any will executed outside Spain.
The third says:- Such is the last will and testament of ...... revoking any previous will which may have been drawn up in Spain.
So if you had a UK will that did not specifically limit itself to non Spanish assets then that will might stand rather than the Spanish will.
Last edited by Fred James; Jun 14th 2007 at 4:12 pm.
Jun 14th 2007, 5:25 pm
#19
Just Joined
Joined: Jun 2007
Posts: 13
Re: Wills
Thanx for that info, better get mine & the wifes out and check them.
Better get the Tippex out !!!
Better get the Tippex out !!!
Jun 14th 2007, 6:16 pm
#20
RETIRED ;-))
Joined: Jul 2003
Location: Benalmadena Pueblo,Spain
Posts: 20,156
Jun 14th 2007, 11:37 pm
#21
Ex Expat
Joined: Oct 2006
Location: West Midlands, ex Granada province
Posts: 2,140
Re: Wills
We each had a Spanish Will with English translation drawn up for our Spanish assetts and an English will for our English assetts. Each specifies 'in Spain' or 'in the UK'.
We had them done by a professional will writer with a business on the Costa del Sol.
We had them done by a professional will writer with a business on the Costa del Sol.
Jun 21st 2007, 11:49 am
#22
Just Joined
Joined: Jun 2007
Posts: 1
Re: Wills
I wonder how many couples have left their half share in the spanish property to their surviving spouse and accordingly racked up their potential liability to UK Inheritance tax. This is the common clause in spanish wills.,..spouses leave their share to each other and consequently push themselves over the nil rate band in the Uk...you just cannot walk into a lawyers office and get a will done without a proper financial in depth assessment of ALL of your assets if you wish to mitigate potential IHT in the UK
