Wills & Probate

PLEASE NOTE THAT A SEPARATE WILL SHOULD BE PREPARED FOR EACH COUNTRY THAT YOU HOLD ASSETS, e.g. If you have property in Spain and property (or even just a large bank account) in England or Wales, then it is strongly recommended that you prepare a Will in both countries. For more information please contact us.

Have you already made a Spanish Will? Due to recent changes in European legislation since 2016, it is strongly recommended that you review the provisions of your Spanish Will to ensure that it states which national laws you wish to apply to your estate upon death. Failure to do so may result in the Spanish rules of estate distribution overriding your intended beneficiaries and changing how your estate is distributed. For more information, please Contact Us.

Have you neglected to make a Will? Perhaps you have made one in the past, but your circumstances have changed (marriage, divorce, children etc).

Have you reviewed your English Will upon or after making a Spanish Will, or vice versa? In many cases, making a Will in one country can inadvertently affect or even cancel the contents of a Will in another country. When making a Will for you, we will carry out a free review of your existing Wills to ensure that there are no clashes.

Many people naturally shy away from thinking about what will happen after their death. However, it is worth sparing a thought for the loved ones who are left behind to handle your affairs.

When a loved one dies, dealing with their affairs can often be distressing and confusing. The last thing they need is additional administrative hassle, bureaucracy or tax to pay. Tenerife Solicitors can also guide executors and beneficiaries through the administrative process following the death of a loved one.

Without a Will, the assets of the estate must be distributed in accordance with inflexible statutory rules (Intestacy Rules), leading to increased uncertainty, often contrary to what the deceased would actually have wanted. In some cases, the deceased’s property can actually be transferred to the Crown (i.e. goes to the Government!).

Making a Will can greatly simplify matters for surviving relatives and friends. A properly drafted Will can also remove uncertainty regarding funeral arrangements, caring for children, making arrangements for pets, distribution of personal possessions and keepsafes and in many cases, avoidance or minimising of inheritance tax. A well drafted Will can also help to avoid potential disputes between family members or beneficiaries. A Will can also make it easier for your Executor to invest money, insure your property or otherwise deal with your assets.

Anyone over 18 years old can make a Will (or younger if in active military service).

At least one Executor must be appointed within the Will (or at least two where you have minor children). This is the person (or persons) that you wish to administer your Will and carry out your wishes. The Executor(s) may or may not receive any gift under your Will at your discretion (Beneficiaries). Hatrick & Co are happy to act as Executor or Co-Executor under your Will.

A Guardian should also be appointed to take responsibility for any children who are minors at the date of death.

UK Inheritance tax will be charged at 40% on all assets in excess of the £325,000 limit (2016-2017 tax year). There are also additional property exemptions depending on the circumstances. Also bear in mind that Inheritance Tax may be payable in more than one country on the same assets, often subject to a double-taxation relief. Tax can also often be minimised by careful planning, or by making lifetime gifts to friends, relatives and spouse etc.

To make an English or Spanish Will, or to discuss how to distribute an estate following the death of a relative or loved one, please contact us on 922 717 845 (0871 218 0063 from the UK) or by email at the above CONTACT US link.