Expats living in Spain have been alerted to the need to make sure their will is in order.
Shelter Offshore reports that it is essential that a will is correctly structured and worded to avoid falling foul of the Spanish civil code and taxation laws on property.
One of the essential aspects of reworking a will in this way is ensuring that a named beneficiary of any property held in Spain is nominated.
Failing to do so could result in a lengthy and costly process to claim inheritance, while in certain circumstances someone other than the beneficiaries may be entitled to claim the property.
The site also reported that failing to put one’s will in order is a common occurrence in the Spanish expat community, with more than 50 per cent believed either to have not made a valid will or not updated it to take account of all assets owned.
Shelter Offshore has also recently reminded expats of the importance of international health insurance, particularly for those who travel between different countries regularly.
Moving abroad? Get a free quote for your international medical insurance online.