Talk Quesada forum

I saw this recent article in my Fiscal Representatives magazine (August 2013) about a new succession law that could define who actually inherits property in Spain. As I understand from the article and if I am correct, I don't think it affects non-residents, as long as we already have a Spanish Will (including a Will in our home-country). However, it could be of interest to Residents in Spain to ensure that they have the correct Wills in place. I thought it was worth putting on here for those don't know about it already (click until enlarged enough for reading):

With credit to Abaco Advisers: http://www.abacoadvisers.com/

Yes Jan this is correct as my lawyer has already informed me that i need to go into the office and make an appointment with the Notar to write a new will which will then be administered under British law. It comes into effect in 2015 and means you can leave your money and possessions to anybody you like and the Spans law will not apply. Mike

mike wrote:Yes Jan this is correct as my lawyer has already informed me that i need to go into the office and make an appointment with the Notar to write a new will which will then be administered under British law. It comes into effect in 2015 and means you can leave your money and possessions to anybody you like and the Spans law will not apply. Mike

Hi Mike, I thought it was interesting that they are changing the rules for foreign residents living in Spain. I heard a few years back that if you don't have a Spanish Will, among all the problems that could cause, it's likely that with the Spanish system of inheritance the eldest son (if there is one) could inherit everything, above any spouse or other siblings - not sure how true that was(??)

Jan.

I think under Spans law all the family members get a share irrespective of what you wrote in your will. You need to go and see your Notar to make a new will to be administered under UK law from 2015. Mike

Yes the article states that this new law covers "EU citizens that reside in a different country to where they originated from"..not for non-residents then..

partygoer wrote:Yes the article states that this new law covers "EU citizens that reside in a different country to where they originated from"..not for non-residents then..

Yes..exactly......That's how I understand it too. Not for non-residents.

We have been recommended to use Nick Bateman at Trans Lingua, Benijofar, to do our Spanish wills. They are in the same building as Affordable Homes. Seems a bit weird to go to a lawyer at a estate agents, but is the Spanish way!

Has anyone else used this lawyer at all? I believe he charges around 250 euros which seems about par for the course for a couple.

Nick is not a lawyer as you dont need a lawyer, its a Nota that does the will. He will arrange an appointment with a notar and he will take you from his office for the appointment. His office is opposite the citoen garage in Benijofar. His charge actually is 90 Euro for one will and 175 Euro for 2, Its takes about an hour to complete. Nicks tel no is 965 992 301, cell 634 174 978 and email [email protected]. Mike.

Hi, a very interesting bit of information. What is the situation regarding paying tax on a property or part that you have inherited ? ie living in the UK, property in Spain and one half married couple dies and leaves entire estate to partner. Do they still get clobbered for tax on what they inherit ?



Many thanks,
Bob.

bobsiesue wrote:Hi, a very interesting bit of information. What is the situation regarding paying tax on a property or part that you have inherited ? ie living in the UK, property in Spain and one half married couple dies and leaves entire estate to partner. Do they still get clobbered for tax on what they inherit ?



Many thanks,
Bob.

Hi Bob,


It seems that the law on inheritance tax between a married couple in Spain depends on whether you are Resident or Non-Resident. You pay the tax if you are Non-resident but not if you are Resident. Apparently the EU has ruled this as discriminatory to Non-Residents but Spain, so far, has not changed this rule, as far as I know. There is some thought that this may change in the future, hopefully, but Spain are not the only country to apply this discriminatory law, Germany is another country.

In the meantime, there is some tax to pay between a Non-Resident couple if one dies. It goes without saying that having a Spanish Will is really a necessity and saves time and worry at a difficult time.

There's some information & examples here on my Fiscal representative company's website to give an idea:
http://www.abacoinheritance.com/spanish ... x-examples


Hope this helps,

Jan