\nThe case of a German businessman resident in Spain<\/h1>\nThe regulation covers a wide variety of cases that can vary enormously depending on the deceased\u2019s personal circumstances. For example, a retired German businessman, Hans, a widower with two adult children, sold all his assets in Germany in 2011 and established his residence in J\u00e1vea, where he set up a single-member limited company. In 2012 he married a Spanish woman and, as a wedding gift, gave her 48% of the company\u2019s shares. In 2014 they had a son and in November 2015 he died without leaving a will. His three children will be entitled, as heirs, to 52% of the company\u2019s shares, specifically 17.3% each, and the Spanish widow to the usufruct of 17.3%. The widow\u2019s usufruct would end on her death. If, however, Hans had stated before a notary that his succession would be governed by German law, his widow would be entitled to a quarter of the shares in full ownership (not usufruct as in Spain) and another quarter by way of participation in gains, in total 26% of the shares; the other 26% would go to the children in equal parts. In conclusion, it will suit the widow for her husband to choose German law, while the children benefit from the Spanish Civil Code, as the widow would only be usufructuary of 17.3% of the company, a usufruct that will end on her death. Moreover, if Hans had made a will under the German Civil Code, it recognises absolute freedom of testation, so that, for example, he could have left everything to his widow, since there are no forced shares.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n |