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Advertorial Gazette

No – it is normal life This article concerns your assets in Spain. Most of us live with almost ‘smug’ - confidence that life will ‘just about’ treat us OK. Certainly - you might think - there would be no possibly that you or your partner / wife / husband could die prematurely. Nor that they could possibly die WITHOUT leaving - everything they own in Spain to you. Then you - in turn - will pass your joint assets on to the children - when you eventually die. There are however many many thousands of families – exactly like yours – with exactly those expectations who have received a most awful shock. Because they took the wrong decision concerning their Will (and taxation) the first to die has left behind a partner / wife / husband – who is now very vulnerable - if not actually ‘stripped’ of this property - that - they expected - would be theirs. THE TWO THIRDS LAW Spanish internal succession law says that two thirds of all property in Spain MUST go to the children of the deceased NO ONE ELSE. Not to the spouse or partner. If that is not exactly what is said in the will – then any Spanish Will written and notarised in Spain under Spanish law CAN be challenged in the Spanish court. Even if the children of the deceased DO NOT WANT assets – i.e. that they see as rightfully belonging to their widowed Mum or Dad – they may not be able to control the situation. 1. If any child of yours becomes involved in a divorce – then the divorce settlement will include those assets - that Spanish law says belongs to that child – (i.e. not to the widow(er)) to whom they were left. 2. If the child becomes (accidentally) involved in ‘negative equity’ in the UK – for example - or another form of debt – than all of those assets become available to the creditor – (i.e. what Spanish law says is rightfully theirs). 3. If your widow(er) falls out with your children – they can ‘hit back’ in a Spanish court – (i.e. demanding the property that Spanish law says is rightfully theirs). If a Spanish (Spanglish) Will is written - leaving everything to a partner or spouse – THEN those children – (OR their creditors – OR their ex spouse) – can FORCE two things to happen : 1. UK or Eire court can force a child to seek its rightful property from a deceased parent under Spanish law - to make those assets available to a creditor - or - as part of a divorce settlement etc. 2. A simple claim in any lower Spanish court is likely to result in 66% - of any assets that have been left to a partner or spouse - being stripped from them - and divided between the children of the deceased person.

Your worst nightmare?

TOO MUCH RISK This may not be the most commonplace occurance – but - it is certainly not a rare or unlikely scenario either. Ownership of overseas property now has very high profile. Creditors, the Inland Revenue, and Solicitors acting in divorce actions etc, are all very aware of the potential for seizing overseas assets. This is a message that is of such importance for the security of your family and your own peace of mind – THAT - if anyone (layman or lawyer, Spanish or not) tries - or had tried - to tell you the opposite - refer them to the most famous recent case of Mrs Denny – who – in a single day in an ordinary - local - lower Spanish court - was stripped - of two thirds of the assets that her husband had given her. These were handed over to his children of his previous marriage – (with some leaving the estate altogether never to be recovered). Mrs Denny had to fight for almost nine years – and almost €100,000 was spent - reclaiming her property.

Thousands of other widow(ers) have not had the money - or time - to fight - before themselves dying - and so remarried disinherited.

THIS RISK NEED NEVER EXIST By writing the correct – international standard form - of (Quill Wills) - Spanish Assets Will and understanding Spanish taxation - you can place your children in complete and absolute security. Quill’s Wills do not rely upon internal Spanish law - but are written under the more relevant – and powerful - international private law - wholly recognised and embraced by Spain (and the rest of the world). It is ONLY under international law that your assets in Spain are safe – for your partner / wife / husband – and then – in time your chosen children or other beneficiaries. It is only then that this nightmare can be no more than an unreal dream. Simon Harris F.LLA, FWA


Spanish court strips widow of her husbands inheritance

January 30, 1995

Today a judge in Jerez de los Caballeros ruled that the children of the widow’s late husband - by his first wife - were legitimate heirs entitled to two thirds of the estate - that had originally been left by Timothy Denny to his wife - in a ‘Spanglish’ Will written and notarised in Spain. The judge ordered the land registry to cancel the entry in favour of the widow - stripping her of most of the assets her husband had left to her. From 150€ Quill can create you a cast iron Will and/or low cost Shelter structure - guaranteed to protect you from nightmares like this - as well as the ravages of taxation - both in your home country and in Spain. Call us today, you will be glad you did!

Telephone Jenny Harris on +34 928 346 544 or +34 679 278 737 or freephone UK on 0800 298 3777 for information. read more online at www.quillwills.net A Quill Group Company

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Spanish Office: Calle Argentina 9, San Andres 108, Costa Teguise 35508, Lanzarote, Las Palmas, España Tel: +34 928 346 544, Fax: +34 928 346 540, Email: jenny@quillwills.net | www.quillwills.net

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There are however many many thousands of families – exactly like yours – with exactly those expectations who have received a most awful shoc...