# Wills



## eliefostermacro (Oct 8, 2014)

I've been reading the previous posts by Baldilocks and Larryzx on this subject, and there seemed to be a little bit of contradiction between the two posts with Larryzx then confirming Baldilocks was correct, however, I'm afraid I got a little lost and I'm not sure what was being corrected. We are about to move to Spain and are trying to understand what we need to do about our wills. Our UK will needs updating and we are not sure whether to update that before we leave (only UK asset will be our personal pension) or make one first in Spain and then return to the UK to update the UK Will or do we even need one in the UK as apart from our pension pot, there are no assests here (we also have no children). I also read on one of the posts that once a Spanish will has been written, it can't be changed. Is that right? Really appreciate any advice. Thank you Elaine


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## extranjero (Nov 16, 2012)

The advice normally given is to have a UK will for assets in the UK, and a will in Spain for assets there.
If resident in Spain , if you leave it all to your partner/ spouse ( also resident inSpain)they will have to pay inheritance tax on all your worldwide assets.
Non resident inheritors in the UK will pay IHT on your assets in Spain only
Some people think that by having UK wills it somehow avoids IHT on those assets. Not true.
Also there is no double taxation treaty with IHT, as there is with income tax
You say you only have your UK pension as an asset there, but perhaps there are bank accounts, premium bonds, insurance savings plans , bonds?
You are right that Spanish wills cannot be amended.
You have to make a new one.
You should update your UK will before moving to Spain, then sort your Spanish one.


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## eliefostermacro (Oct 8, 2014)

extranjero said:


> The advice normally given is to have a UK will for assets in the UK, and a will in Spain for assets there.
> If resident in Spain , if you leave it all to your partner/ spouse ( also resident inSpain)they will have to pay inheritance tax on all your worldwide assets.
> Non resident inheritors in the UK will pay IHT on your assets in Spain only
> Some people think that by having UK wills it somehow avoids IHT on those assets. Not true.
> ...


Hi there, thank you very much for explaining it. Regards Elaine


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## larryzx (Jul 2, 2014)

Elaine, I was told by a lawyer in Spain one needs to ensure that the UK Will, which usually ( Always ! ) says, 'This is the last Will and Testament' includes a clarification that the Will only refers to the UK, as if one makes another Will in Spain, then the UK one will no longer be the 'Last Will'.


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## eliefostermacro (Oct 8, 2014)

larryzx said:


> Elaine, I was told by a lawyer in Spain one needs to ensure that the UK Will, which usually ( Always ! ) says, 'This is the last Will and Testament' includes a clarification that the Will only refers to the UK, as if one makes another Will in Spain, then the UK one will no longer be the 'Last Will'.


Hi, Thank you for the clarification. Regards Elaine


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