Spanish Tax

[simon]

I am currently re doing my will and the solicitor has asked if I know how my Spanish long leasehold berth would be handled on death. Would my beneficiaries be able to get their hands on it without any problems?

Any advice would be appreciated.

Thanks
Simon

 

[Steve Clayton]

I think you may need a Spanish will, lodged and notarised in Spain, in order for it to be recognised as legal.

Only saying this as when we bought property in Spain it was a requirement for us to have Spanish wills relating to said property.

 

[mikemcgregor]

We have a property in Spain and were advised to have a certified copy of our english will deposited with the Spanish central will depository in Madrid. The English will of course indicated our wishes regarding all our Spanish assets. I understand that by doing this our will would take precedent over any Spanish law regarding any deceased assets.

Hope this helps

 

[lovezoo]

I think you may need a Spanish will, lodged and notarised in Spain, in order for it to be recognised as legal.

Only saying this as when we bought property in Spain it was a requirement for us to have Spanish wills relating to said property.

Yep, we have a Spanish will as well as an English one. The Spanish will covers our house in Spain.

 

[simon]

Thanks all. That seems to be the general consensus, time to see a Spanish solicitor I suppose.

 

[burgundyben]

Thanks all. That seems to be the general consensus, time to see a Spanish solicitor I suppose.

I'm in the process of selling a property in Spain while acting as executor of an English will.

I recall reading that you can use an english will and specify items in there are to be dealt with in britain as a way of avoiding Spanish inheritance tax.

Either way, I'd reccomend being very careful with inheritance tax in Spain if you are non resident and make note of the relationship between you and the person you are gifting the inheritance too as this make a big difference.