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Dear Sir or Madam,
All assets and rights located in Spain (or Worldwide if he was fiscal resident in Spain) are added onto the estate for IHT purposes. Bank accounts, insurance policies, stocks, works of art etc
Are you able to prove what part of the funds belonged to him in a jointly-held bank account? Banks log whose been the one who has put funds into the account. That will be subject to IHT.
More details in my article:
Spanish Inheritance Tax: Advantages of Making a Will in Spain - 3rd September 2009
Your appointed lawyer will deal with this; he will draw up a list of assets and liase with the banks. That's one of the reasons on why lawyers need a POA to act on behalf of the beneficiaries.
Yours sincerely,
Raymundo LarraĆ*n Nesbitt
Last edited by Lawbird Lawyer; 03-05-2010 at 05:47 PM.
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