If you live in Italy, but are ’non-resident’, one course of action to you would be to make a May to ensure that your own Spanish assets are dispersed exactly as you want in the event of the death.
Spanish Laws about Inheritance state that, on your death, your estate will be shared among your own heirs based on the rules of your country of source. Most Eu countries’ Laws of Inheritance : with the exclusion of the UK : state that children have an automated right to an element of your estate on your death, even if they are not expressly mentioned in your Will. In Italy your children will automatically get a share of the Spanish resources.
Of course, should they do not wish to say their authorized share of their own ‘Spanish’ inheritance, they can ‘renounce’ their particular right at a Spanish Notary public and the estate will then be distributed among whomever else you might have designated in your Will (this really is known in Italy as the ‘Legitime’ - that percentage of inheritance reserved for legal reasons for your spouse and kids, or, failing these, with other descendant or perhaps ascendant associations).
British homeowners should also remember that although The spanish language Law claims that British Regulation applies in the big event of your loss of life, British Law also claims that it is the Law in the country where the asset is situated (eg Italy) which decides your lawful heirs.
What are the results When Someone Will not Accept Their own Inheritance?
Not everyone is pleased to receive an inheritance. Depending on your personal situation, you might elect to refuse or even disclaim a bequest made to you with a loved one for a range of reasons. If you’re younger, the actual windfall might affect your eligibility for college student aid, even when it's not you'll pay to you right away. If you’re more mature, it might prevent you from qualifying for Medicaid. Further, if you're already prosperous, an inheritance will increase the estate's value, that could mean your personal estate will end up having to pay additional government estate taxes once you die. Regulations recognizes these problems sometimes occur and you normally do not have to take an inheritance if you don’t wish to accomplish so.
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(bienes de la herencia) estate of inheritance.