I have a deceased who is UK dom with a UK Will which includes all Spanish Assets
Spanish Assets include a bank account which is held jointly with another
Does the bank account pass to the joint owner like the UK rules of survivorship ? Or does it fall under the Will
My understanding would be that no, the account doesn’t pass by survivorship as it would in the UK; and that a Certificate of Succession would have to be provided to the bank showing who benefits under the Will.
The rules are on cross border estates are complex, I’d suggest taking specialist advice.
My understanding is, immovable are dealt with by local laws, movable items are dealt via the deceased domicile country laws.
Spanish property, Spanish will/laws.
The bank account I’d suggest is dealt with by UK law as the deceased is domiciled here.
My understanding matches that of Louise Levene - the default position under Spanish Law is that the deceased’s share of joint property forms part of their estate and dos not pass to the survivor.
However, I further understand that, with bank accounts at least, the parties can elect (?) for the account to pass to the survivor.
Accordingly, I suggest the question should be asked of the bank and, if it passes to the survivor, obtain confirmation of their requirements to enable this.
I do not believe the fact that a joint account would pass to the survivor under the law of E&W would override the Spanish Law requirements and enable the survivor to claim the account if the default position under Spanish Law applies.
Paul Saunders FCIB TEP
Independent Trust Consultant
Providing support and advice to fellow professionals
PO Box 421, Wilmslow, Cheshire SK9 0EX