Should I stay or should I go?

How many years have you lived in Spain? And how have your feelings changed over the years? We look at making that one final decision about where you will spend your final years.

• It’s a difficult decision to make but don’t put it off too long 
• Think carefully about future planning if you decide to stay
• Make sure you tie things up properly if you do decide to go

Moving to Spain to enjoy retirement has been a popular choice for many over the years. The benefits are there to be seen. The opportunity of plenty of outdoor living, healthy fresh food and, of course, the slightly slower pace of life are well- recorded. Added to that, many people have found themselves living in established communities where they can still enjoy the company of people from their native country and where clubs and activities abound.

But there must come a time when decisions have to be made about what happens next. What will you do when you or your partner are no longer able to look after yourselves? Can the remaining partner manage if they are on their own? For most people the move to Spain was a move for life and, financially secure, you can plan for yourself and your partner a path for the future should you need it.

For others, a return to their home country is preferred and the security of having more family around them. Of course, these decisions are not confined to people living in a different country. Even if you have never moved, you will still need to give consideration to the ‘what happens next?’. However, if you do live abroad then pre-planning is probably a greater necessity than if not. So, what will you do?

If you stay…

This is where you might want to consider a relocation if you are living in a rural area away from services. It isn’t essential, of course, to have them on your doorstep. But there is some security in knowing that you can reach the services you need when you need them. Having neighbours or friends close by can also be of great value in your older years.

Make sure that your family are aware of your wishes. You have probably already made a will but, if not, making a will in Spain will cut down on the paperwork for your family when the time comes. Many people also choose to pay into a funeral plan but do make sure that you have checked out the provider you’ve selected.

Some people choose to make donations to their family in preference to leaving property in a will. This is worth consideration if you want to make sure that as little tax is paid as possible and that you can have oversight of the process.  

There are organisations here that provide voluntary guidance and can steer you towards the assistance that you might need in your older years. Residential care is also available, but like in all countries, it comes at a cost. What is perhaps most important is that you don’t leave things to chance.

If you go…

The possibility of this depends on each individual circumstance and, as always, the financial security you have. Of course, a return to your native country is likely to entail more expense. However, for some people, the sense of security of being closer to loved ones provides the incentive.

In the same way that we might advise you to plan carefully for your continued residence in Spain, you should do the same for your return to your native country. Many of the issues are similar and you will need to be clear about what your forward looking plan is.

It is advisable to inform the bank and other authorities that you are leaving the country. You might wish to keep your property in Spain, for example, but will need to change your bank account from resident to non-resident.  

Whether you stay or go            

Consider giving members of your family Power of Attorney. It is so important that your family can ensure that the correct care and decisions are made on your behalf if it gets to the point when you cannot make them for yourself. Be clear with them about your preferences so that they can act for you.

Make a will and ensure that the correct procedures are followed so that it is accessible and available. Take advice on what the best decisions are for you and your family when it comes to tax and inheritance.

Your decision

Finally, it is your decision. It can be easy to be heavily influenced by the views of family and friends. Of course, these are important but, your feelings, either way, are what are central here. You need to do two things. Look carefully at the practical difficulties and also consider carefully what the benefits and disadvantages of a return to your home country will be.

Even if you do decide that a return to your native country is for the best, this doesn’t have to be a negative step. You have enjoyed your time in Spain and will have lots of positive memories, anecdotes and life experiences that you can share in the future.