Q. Do I need to do a Spanish Will if I have a foreign Will?
A. *Foreign citizens with assets in Spain should do a Spanish will if they want to make the probate process quicker. If there is no Spanish will, beneficiaries have to wait until the Grant of Probate is supplied, is translated into Spanish, and apostilled. If you are a foreigner with residence in Spain, having a Spanish will in place is of essence if you want to apply your national Law to your inheritance. According to The European Succession Regulation EU650/2012 (also known as “Brussels IV”) if you have your habitual residence in Spain and you want your national law to be applicable to your Succession you should have a Will where this is expressly mentioned.*
Q. Can I sell the Spanish assets if I am a beneficiary?
A. *Before you can sell them you will have to go throughout the inheritance proceeding in Spain. Then, once you have become the registered owner at the Spanish Land Registry, you can sell them*
Q. What happens if a relative passes away with assets in Spain, and we can not find a Will?
A. *We can check if there is a registered Spanish Will in Spain, as in Spain there is the compulsory Wills Registry in Madrid. If there is no Spanish Will duly registered and no foreign Will, the inheritance will be qualified as Intestate, and the Law applicable will depend on where the deceased had his/her last residence.*
Q. If I am a non-resident and invest in Spain, what happens with my Spanish Inheritance Tax?
A. *If you are a non-resident, since the ruling of the Spanish Supreme Court dated November 2018, there should not be tax discrimination between residents and non-residents, regardless if they are European residents or non-European residents. Therefore, the allowances, the deductions and all the tax benefits shall be applicable equally.*