At Welex, you will find everything related to inheritance in Spain. We explain inheritance laws and inheritance tax in Spain. Watch out that the Spanish Inheritance law could be different than the one your nationality and therefore it is relevant to choose the one you wish to apply.
The Regulation of European Union in matters of Succession No. 650/2012 of 4 July regulated the jurisdiction, applicable law, recognition and enforcement of resolution and public documents in matters of succession and the creation of a European Certificate of Succession.
On 17 August 2015, Regulation number 1329/2014 came into force, which regulates the forms mentioned in Regulation number 650/2012.
This Regulation 650/2012 and its regulation of execution is for direct application by all Member States of the European Union from 17 August of 2015.
There is no doubt as to the practical consequences that this regulation has on the succession for all citizens of the European Union in determining that the law applicable to the whole of the succession will be that of the State in which the deceased had a habitual residence at the time of death.
For example, if a French national residing on the Costa del Sol has not drawn up a Will either in France or Spain, the law applicable to his succession after his death would be the law of his or her residence (Spanish law).
The fact that he or she had not expressly designated by testamentary disposition which law would apply after his or her death, by virtue of this Regulation of the European Union, by default, the law of the person’s residence, and not his or her nationality, would apply.
The Regulation states that the choice of the applicable law must be made explicitly in a statement in the form of a disposition mortis causa, which in the normality of the cases, is made by means of a Will.
If a Will was drawn up prior to the entry into force of the Regulation, which is 17 August 2015, review it to ensure that it is clearly drafted and explicitly and clearly states the applicable law, i.e. the law of habitual residence or the law of nationality.
Do you wish to obtain additional information on your Will in Spain? Do you need legal advice on your Spanish Inheritance? Do you wish to receive a breakdown of Taxes and disbursement to take into account at the time of signing an Inheritance acceptance Title Deed in Spain? Contact Welex, legal and tax experts now!