Q.- I am an Englishman living in Spain with Spanish Residency. Some time ago I made a Last Will & Testament with my UK solicitor.
I have also made a Spanish Will with my Spanish Assessor here in Spain. Last year I gave my only son Power of Attorney through his UK solicitor. My question is: On January 1, 2021, will both wills be applicable or only one of them?
B.J. (Costa del Sol)
A.- Brexit will have no effect on wills. But be careful. Does your English will specify that it disposes only of your estate in the UK? Does your Spanish will specify that it disposes only of your property in Spain? If so you should be all right.
If not, the will dated last will take precedence. Be warned that a power of attorney dies with its maker.
We are assured that UK citizens residing in Spain will continue to enjoy their EU rights after Brexit but you might want to confirm that your inheritance tax exemptions still apply. If your Spanish estate is substantial you may face inheritance tax.
Send your questions for David Searl through lawyers Ubeda-Retana and Associates in Fuengirola at Ask@lawtaxspain.com, or call 952 667 090.