All about estate planning, why is it advisable to make a Spanish will, the Spanish law of compulsory heirs, how to make a bequest in Spain, time limit to report a bequest n Spain, the usufruct, etc.
The usufruct is the right of enjoying an asset, the property of which is vested in another person, and to draw from this all the utilities which it may produce, provided that it is being done without altering the substance of the asset.
Under Spanish Law, may I bequeath some specific assets and rights to the person of my choice? what if this person is other than my children?
First of all you should seek the assistance of a Spanish Lawyer. It will be normally easier when there is a Spanish will, disposing of the deceased’s Spanish assets.
Can my foreign will deal with my Spanish property? Under Spanish inheritance laws, a certain proportion of the Testator’s estate must be left to his wife and children. Notwithstanding, foreigners can leave their Spanish property to anyone of his choice.
How can I simplify legal formalities for my heirs regarding my Spanish assets? Can my Spanish will dispose of my assets located abroad? If you have any property in Spain, it is strongly advisable that you make a Spanish will, this will speed up the legal processes of inheritance.
Under Spanish inheritance laws, a certain proportion of the Testator’s estate must be left to his wife and children. However, foreigners can leave their Spanish property to anyone of their choice.
Spanish inheritance law and procedure is totally different to that applicable to common-law systems such as the UK, the USA, Canada, Australia, New Zealand or South Africa. There are also differences with regard to other European countries.
