8 step guideline for ex-pats in Spain wishing to leave everything in good order for their loved ones: wills, powers of attorney, etc

Guideline of the things to look into to keep things simple for your beneficiaries:

I am Over 70 and wish to make sure my will, paperwork  etc is in good order in case I  “pop  my clogs” tomorrow:

As a probate lawyer for 25 years ,from experience  I can say withoght doubt:  If clients all spoke to their solicitor  for half an hour about the 8 points below, probate lawyers , inheritance tax experts  and those dedicated to inheritance related litigation would  make less money but would have much happier clients.

It is a fact. Sooner or later we will all die.  In my case not before I am 200 but in all case inevitable.

We all know that from a certain age onwards we need to visit the doctor to have certain routine checkups that we do not like.

Clearly not as important or as uncomfortable as the doctors checkup, but you should also run a  “Spanish will check up “with your family solicitor every known and again and specially as you get older. This is even more important if you are an ex-pat in Spain.

People in general do not like facing the inevitable and feel uncomfortable  discussing .  We  are often  get confronted with situations in which clearly what the family needs /wants is for us to run through things and make sure that matters  in Spain are in good order from a legal point of view , so that if mom or dad deceased there is nothing that should be done from a legal perspective  that could cause problems if unattended.  Sometimes they call about a will , sometimes about a power of attorney , others about their parents deeds but what they need is a check up of all matters explained below . The truth is that normally  we see the complete family  all again five years later and nothing has changed but as we never know when the time will come it is  better after a certain age to always be prepared. In other words it is about being prepared for peace of mind  but not bringing the moment forward.

The question that we would like to hear more often would look something like this ?

We are over 70, and not getting younger . Apart from making a will, what things should we be looking out for to make sure that my spouse /children etc. find things from a legal point of view as simple as possible and pay the minimum amount o taxes etc if I /we decease ?

Make sure you discuss these 8 points:

1. Make sure Spanish wills are in good order (there have been some legal changes lately that have made a visit to a solicitor in relation to the will necessary, and if they have been ill and thinking of other things this will not have been a priority and may not have bee done ).   Ask a solicitor if  it complies with Directive 650/2012 that came into force on the 17 of August of 2015 and ask your solicitor if you can make better use of the new situation in relation to exemption rates for non residents created after the sense of E.C.J. of 3/9/2014.  (European court of Justice of 3/9/2014) Even if the will does comply  they are, it may be time to reconsider the clauses. If for example one of your parents is very ill it may not be convenient for the other partner to name him /her beneficiary , etc.   https://www.daviessolicitors.com/11-things-you-should-know-about-spanish-wills-2/
2. Locate all the assets :  the title deeds to the property,  NIE numbers, bank accounts , car papers , life insurance policies etc  and make copies and leave them with  your beneficiaries or at least have them somewhere they can find them .  People would be surprised at the amount of assets that can simply go unclaimed because nobody knew of their existence. It happens people hide money from their spouse , from the tax office, from their children etc . Remember if it can not be found it may to unclaimed. You need to devise a system so that this does not happen.
3. If yo have a life insurance policy make sure you have named beneficiaries and that they are up to date with your wishes.
4. You may wish to consider reciprocal powers of attorney  between spouses or in favour of  your children in case you one one day become incapable of granting consent. Power of attorney can be very important if you have recently been diagnosed with an illness like alzheimer. Alzheimer and the Law.
5. Take into account that if you are resident and over 65 they are entitled to sell your Spanish  property free of capital gains tax  Talk to your solicitor about capital gains tax. If you are going to sell the property try to do it withoght  loosing  resident status before you sell .Capital gains tax for residents when selling.
6. Look into your situation in the U.K. also . Both your U.K. wills and possible powers of attorney.
7. If possible introduce your future beneficiaries to your solicitor in Spain.  It is always easier both for them and your solicitor to have met before having to deal with things, specially if you make the solicitor the  executor of the will.
8. You may wish to consider a funeral plan. There are various English speaking companies operating along the coast.

These  eight points are essential things that come to mind and that we always address in these situations  but there could be more depending on their specific circumstances. A chat with a specialised Spanish probate lawyer  with  all documentation available is recommendable to avoid the pitfalls when inheriting.