All of us at AGE CONCERN MARBELLA-SAN PEDRO want our members to live their best possible lives. To ensure that each one of us can minimise worries about such things as what happens to our “estate” and who gets what etc., we have prepared this short Guide.
It should be said at the outset that this Guide is NOT definitive and is in NO WAY a substitute for professional legal advice. However, we hope that it answers some questions and points you in the right direction.
Your “last will and testament” is a binding document setting out how you wish for your “estate” – money, property and possessions, is administered after your death.
Please be aware that if you have a serious/terminal illness you should advise your lawyer, because you must be of sound mind to ensure your will is valid. It is possible that you may require a doctor’s certificate confirming that you know what you are signing.
If you have assets in both Spain and the UK, it is recommended that separate wills are drawn up, witnessed in accordance with relevant laws and in the presence of a Notary. Your Will will then be formally registered with the Central Registry of Wills in Madrid.
As for your assets in Spain, you may wish to have them disbursed under UK law and this should be made clear at the outset. Failure to do so could well mean that Spanish law will apply!
There can be a number of complex issue arising and therefore it is advisable to secure the services of a bi-lingual lawyer experienced with drafting Wills and expertise with cross border succession, if you have assets in the UK.
There are 3 types of will in Spain but the most secure is known as an “open will” where only the Notary has access and no other persons. It is always best to prepare some information in advance starting with listing your Assets.
- Details of any property you own here or abroad
- Savings in banks, building societies or elsewhere (Premium bonds)
- Insurances including life or an endowment policy
- Pension funds that include a lump sum payment on death
- Investments e.g. stocks and shares or investment trusts
- Vehicles
- Jewellery, Antiques and other valuable personal belongings
- Furniture and other household items
- Debts might include
- A mortgage or equity release
- A credit card balance
- A bank overdraft
- Any loans
Just a reminder – do you have a pre-paid Funeral package? Consider that the kindest action you can take is to make your wishes clear to the loved ones you leave behind, to relieve them of the worry of what your wishes are and to take care of the financial cost involved in arranging the funeral.
You will need to appoint an executor but should discuss this seriously with potential candidates as the role can be complex.
NIE details are required by both Executors and beneficiaries
Leave a gift in your Will
If you wish to leave a bequest to AGE CONCERN MARBELLA-SAN PEDRO our full details including our Charity name, Address, Registration and Account details can be found below:
- Asociación Age Concern Marbella y San Pedro
- Urb. Aloha Golf s/n, Aloha Pueblo, Apto. 84, Nueva Andalucia
- 29660 Marbella, Málaga.
- Número de Registro de Asociaciones 13030 NIF: G93600559
Bank account details:
- Banco Sabadell Solbank
- Account name: Asociación Age Concern Marbella y San Pedro
- IBAN: ES15 0081 2097 6700 0125 3229
- BIC: BSABESBBXXX
It´s always advisable to look at your will every 5 years or so as your personal circumstances may have changed
For example if you marry, re-marry or enter a civil partnership this CANCELS a previously existing will.
We hope that this article has proven helpful but would remind you that this is NO substitute for professional legal advice. We also have a free leaflet with many other useful details called A Death in the Family, with facts about what you need to know about the process in Spain when someone dies and advance planning for succession tax. You can apply for a digital copy by email to info@ageconcernmarbella.com or pop into our Community Centre in Pasaje Armando in San Pedro Alcántara and pick up a copy. There is a map with directions on our website www.ageconcernmarbella.com
