If you own property in both the UK and Spain, or you have made Lanzarote your home while maintaining assets back in Britain, there is a critical question you need to ask yourself: do you have valid Wills in both countries?
It is a mistake that many expats and dual-property owners make, assuming that a UK Will can simply be extended to cover Spanish assets. In theory, yes, a UK document can be written to include worldwide possessions. But in practice, this approach is fraught with difficulty. Translation issues, differing inheritance laws, and missed tax exemptions mean that relying on a single Will often creates more problems than it solves.
The Problem with One Size Fits All
Neither the UK nor Spain enjoys dealing with intestate estates – that is, when someone passes away without a valid Will in place. The process becomes slower, more expensive, and far more stressful for loved ones left behind. But when assets straddle two countries, the complications multiply enormously.
Spanish inheritance law operates differently to the British system. A UK Will that has been translated may not satisfy all Spanish legal requirements, and crucially, you could miss out on tax exemptions that are available under Spanish rules. The sensible solution is straightforward: one Will for the UK, and a separate Will for Spain.
The good news is that arranging both is more affordable than many people think. UK Wills start from £300, while Spanish Wills start from €300, with discounts available for multiple applications. For peace of mind that your beneficiaries will not face a bureaucratic nightmare, this is money very well spent.
Protecting Your UK Assets from Abroad
For those now living in Lanzarote either full-time or for extended periods, there is another essential document to consider: a Power of Attorney covering your UK assets. Without one, managing your British affairs from Spain can become incredibly difficult, particularly if illness or incapacity prevents you from travelling.
You should always appoint attorneys who are actually resident in the UK. There are two distinct types available:
Property and Financial Affairs covers everything you own – your house, car, boat, plane, bank accounts, and all other possessions. This document allows your appointed attorneys to act on your behalf when you are unable or unwilling to manage your UK assets yourself.
Health and Welfare covers medical treatment, administration of medicines (including injections should you become diabetic in later life), hospitalisation, and long-term care. However, this is only suitable if you spend part of your time in the UK or intend to return there in the future. It is worth arranging just in case.
A crucial point to remember: UK Powers of Attorney do not extend to use abroad. For that, you would need a Spanish Power of Attorney instead.
Will for Life: Updates Without the Usual Cost
Circumstances change. You might marry, divorce, have children, or acquire new assets. Your Will needs to keep pace. CJH Consultancy offers a Will for Life scheme on their UK documents, meaning that if you wish to amend or update your UK Wills at a later date, this is completely free, with only a small administration cost of £50 to arrange the changes.
Fixed Prices and No Hidden Surprises
All documents can be arranged for a fixed price, so you know exactly where you stand. You can speak directly to Colin and his team via WhatsApp on +44 7762 059608 or arrange a Zoom meeting. More details are also available on their website.
Planning ahead is not about worrying for the future. It is about making sure the future does not become a burden for the people you love.
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