Buyers Guide ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

Wills and the importance of one in Spain

One of the first things you must do upon purchasing a property in Spain is to have a Spanish Will (testamento), drawn up by a Spanish lawyer and witnessed by a notary. Each adult (husband and wife) should make a separate will regardless of how large or small the estate is. Under Spanish law, if a foreigner, resident in Spain dies intestate (i.e. without a will), his/her estate may automatically de disposed of under Spanish law and the law of compulsory heirs.

Once a Spanish will is made it is possible for assets to be dealt with immediately. You should only include your property and any other assets held in Spain in the will and deal with any assets held in other countries by a will drawn up in that country.

The Open Will

An Open Will (testamento abierto) is the normal and most suitable kind of will for the majority of people. The contents must be made known to three witnesses and the notary, each of whom must sign the will. It's not necessary to use a lawyer to prepare an open will, although it is advisable. A notary who is responsible for ensuring that it is legal and correctly drawn up must prepare it. Once executed, the notary will give you a copy (copia simple or copia autorizada) and send a copy to the general registry of wills (Registro General de Actos de Ultima Voluntad) in Madrid. The original remains at the notary's office. If you do not speak Spanish well, you will need an official translation.

The Closed Will

A closed will (testamento cerrado) must be drawn up by a Spanish lawyer to ensure that it meets the requirements under Spanish law. The contents remain secret and it is placed in a sealed envelope, taken to the notary and then treated in the same way, as an open will.

The Holographic Will

A Holographic Will (testamento ológrafo) is a will made in your own handwriting. It must be signed and dated and clearly drafted so that your wishes are absolutely clear. No witnesses or other formalities are required. It can be voluntarily registered with the registry of wills. On the death of the testator it must be authenticated before a judge, which will delay its execution. A verbal will can be made in the presence of five witnesses who must then testify to notary the wishes of the decease. The notary then prepares a written will and certifies it.

For anyone with a modest estate in Spain (such as a small property) a holographic will can be sufficient. The cost of preparing a simple Open or Closed will is around €125 to €250 for a couple (each of whom must have separate wills) plus the cost of any translation.

Keep a copy of you will(s) in a safe place and another copy with your lawyer or the executor of your estate. Don't leave it in a bank deposit box, which will be sealed for a period under Spanish law.

Finally, note that Spanish inheritance law is a complicated subject and it's important to obtain professional advice when writing or altering a will.

Thinking Life in Spain? Think Orangestate!