What is a testamentary inheritance?
Patrick Gordinne Perez2024-12-15T04:38:17+00:00Testamentary inheritance refers to those succession processes that, in Spain, are made by means of a will.
We explain what this involves and how it differs from intestate succession.
What is testamentary inheritance in Spain?
Testamentary inheritance in Spain implies that the person transferring the estate has expressed his or her will in a will.
According to what is recognised in the Spanish Civil Code and the different regional civil laws, this can be open, closed, holographic, viva voce or special (war, epidemic, sea voyage…).
In any case, what characterises inheritance by will is that the testator indicates what he wishes to do with his estate.
Moreover, he/she can name new heirs, in addition to the compulsory heirs that must be included by law.
And this facilitates the process of distribution of the estate, given that there is a pattern to follow.
Does this mean that the will is always valid? Not necessarily.
Firstly, because special wills expire after a certain period of time.
Secondly, because a will before a notary, if it breaches any of the conditions for the distribution of assets, can be contested.
Consequently, although it is an option that provides the testator with more autonomy, this is limited.
And one should start from that basis when analysing this possibility.
Testamentary inheritance VS intestate inheritance: main differences
Testamentary and intestate inheritance have several differences, so it is important to clarify both areas.
Fundamentally, there are four:
1. Voluntariness and distribution of the estate.
An inheritance under a will is governed, if there is no counter-will, by the will of the testator, which is clearly defined.
An intestate inheritance, on the other hand, is governed by the general provisions of state and regional inheritance law.
2. Designated heirs
Intestacies with a will allow for the possibility to designate heirs who are not relatives or to disinherit (in very exceptional cases and with a justified cause).
An intestate inheritance does not allow any of these possibilities.
For this reason, if you have a special or unusual will, this is the recommended course of action.
3. Speed of the procedures
On the other hand, inheritances with a will are usually quicker because there is no need to initiate the process to locate the heirs.
Intestate inheritances are usually slower because certain documentation is required for a Declaration of Heirs.
4. Cost of the formalities
And, finally, a testamentary inheritance is usually cheaper than an intestate inheritance, over and above the deductions that may apply.
The fees charged are lower because there are not as many steps to take.
For all these reasons, the advice we give, in order for you to decide fully, is to make a living will.
In this way, you will have control over the destiny of your estate and autonomy of decision.
An agency can help you with this, especially if you are a foreigner, because you can make a will here.
Therefore...
The testamentary inheritance is the best option, but, for this, it is necessary to have some legislative knowledge.
At Asesoría Orihuela Costa we can help you to draw up the document in accordance with your wishes and avoid legal problems.
Contact us without obligation to find out more!