Estate planning involves planning how a person’s assets will be managed and distributed immediately after his or her death. First, the management of an individual’s property in Costa Blanca and financial obligations must be considered.

Assets in Costa Blanca that constitute the estate include all assets that the individual has or is able to show that they belong to him (houses in Altea, cars, paintings, life insurance, pensions, debts…).

The most normal step in estate planning involves drawing up a Will in Notary. A will is a legal document created to give instructions on how and in what manner an individual’s assets and custody of minor children, if any, are to be treated after death. The individual expresses his or her wishes through the document and appoints a person (executor) whom he or she trusts to carry out the stated intentions.

The authenticity of a will is determined through a legal process known as probate. Probate is the first step in administering a deceased person’s estate and distributing the property to the beneficiaries. When a person dies, the custodian of the will must take the will to probate court or to the executor named in the will within 30 days after the death of the testator.