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Life Events in Spain
Write a Will 10.Sep.08 - 12:30pm A will is a legal document that describes how you want your propertiy and belongings to be disposed of when you die: it tells the world "who gets what." Everyone should have a will. Requirements for a valid will In Spain there are formal requirement for preparing and signing a will :
What should my will include? Your will should specify and state:
When should I update my will? There are numerous reasons for you to update your will, but some of the most common are when:
Revising a Will You can change your will by:
Who should draft my will? Only an attorney can legally draft a will for a person, unless a person draft his own will. Personally drafted wills are often incomplete, and therefore invalid under the Spanish Law. An invalid willis worthless. Kits for writing a will are normally not specific. If your will fails to follow Spanish Law, it will be invalid. How can I stop fights over what I leave? The people you leave your property to can not be stopped from challenging your will in court. However, you candiscourage potential contestants from challenging your will by placing a no-contest clause in your will. Other options to mimimize fights after you´re gone include making an agreement with your beneficiary or using a living trust.
Intestacy is the situation that arises when someone dies without having made a Will. When someone dies in this situation, their property (the estate) must be shared out according th certain rules. These are called the rules of intestancy. A person who dies without leaving a Will is called an intestate person. The Rules of Intestancy will determine the beneficiaries of the estate. In Spanish Law are regulated on the Civil Code.
Rules of Private International Law/Succession. Succession on the ground of death shall be goberned by the national law of the decedent at the time of the death, independently of the nature of the assets or the country where they are located. However, testamentary dispositions and succession covenants made in accordance with the national law of the testator or of the covenanter at the time of their executions shall continue to be valid even if a different law governs the successions, excepts for the legal portions, if any, which shall be in the conformity with the law governing the succession. Rights of the surviving spouse granted by operation of law shall be governed by the law that regulates the effects of the marriage; however, the legal portion of descendants shall be respected. |
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Wills & Probate: FAQ
What is a personal representative? The person who represents the estate is called executor/executrix. A person appointed by a court to represent the estate of a person who doesn,t have a will is called a personal representative, or administrator. Givin the proper notices to the proper parties Collecting all the decedent´s property Receiving claims against the estate Paying just claims and disputing others Distributing the estate property according to the will or state law Along the way there may be other necessary actions, like selling estate property to cover debts or allow for proper distribution |