Five Things Expats Often Don’t Realise About Probate in Spain

Many people assume that dealing with an estate in Spain works much the same way as it does in their home country. Unfortunately, families often discover important differences at exactly the wrong time.

One of the biggest surprises is that Spanish probate is not simply a matter of producing a will and waiting for authority to be granted. The process involves legal, tax and notarial requirements that can take time to complete.

Here are five points every expat should know:

1. A Spanish Will Can Save Time

Whilst foreign wills can be recognised in Spain, having a separate Spanish will covering Spanish assets often makes the process smoother and easier for families.

2. Bank Accounts May Be Frozen

Spanish banks will usually restrict access to accounts once they are informed of a death. This can create practical challenges for families who suddenly need access to funds.

3. Inheritance Tax Deadlines Arrive Quickly

In many cases inheritance tax must be declared within six months. Missing deadlines can result in penalties and interest charges.

4. Property Values May Differ From Expectations

Spanish authorities may use official reference values when calculating taxes, which can sometimes differ from market values.

5. Planning Ahead Matters

The easiest probate process is usually the one prepared long before it becomes necessary. Wills, inheritance planning and clear documentation can significantly reduce stress for loved ones.

For expat families, understanding these issues in advance can make a difficult situation much easier to manage.

Want the full story?
Read the complete feature on Spanish probate in the latest edition of Expat Lifestyle Magazine.