PDA

View Full Version : lawyers fees for dealing with inheritance issues



Unregistered
06-30-2009, 11:43 AM
Hi,
My husband, who died last year, had made a Spanish will leaving his share of our jointly owned property to his 4 children. I would like to know what are considered reasonable fees for the work the solicitor will need to do to transfer his 50% share of the property to the children. I have been told that their fees will be calculated as a percentage of the value of the estate but that they can charge this fee twice, under "clause 26", because the will is following foreign legislation, ie. not obligatory inheritors, even though the estate has passed to his children. Also, they will include the outstanding mortgage as an asset of the estate for the purposes of calculating their fees, although this will be classed as a debt for inheritance tax purposes. I'd be grateful for any views on whether this is common practise in dealing with Spanish wills of foreign nationals who have mortgaged property.
Thanks,
Alison

Lawbird Lawyer
06-30-2009, 01:06 PM
Dear Madam,

This is a free market economy, you can choose whichever law firm pleases you.

It is normal to have a minimum standard legal fee for this service which is tweaked and adjusted dependant on the value of the estate, yes, and also on the complexity of the matter.

Regarding charging twice for the same thing you have me at a loss there.

We only charge once (!) and we give a detailed breakdown of fees & expenses on signing our Letter of Engagement which avoids any misunderstandments.

I take this opportunity to offer you our legal services on estate transfer to heirs. (http://www.lawbird.com/services/view/10/Estate-Transfer-to-Heirs)

To have the property transferred over to the names of your four children a legal procedure must be followed in Spain.

If there's no Spanish will, firstly a Grant of Probate must be obtained in the UK. Following that a Deed of declaration of heirs has to be signed before a Spanish Notary public. Following that Death duties have to be calculated, paid and filed. Only then will the property be lodged under their names. For more details, please read my article:

DRAWING UP A SPANISH WILL: THE ADVANTAGES (http://www.levantelifestyle.com/html/?p=1432)-5th of May 2009

Our minimum standard legal fee for this service is 5,000€ plus 16% VAT. The amount will vary depending on the value of the estate bequeathed as explained above.

We offer you our legal services should you be interested (please click on the blue link):

Estate Transfer to Heirs (http://www.lawbird.com/services/view/10/Estate-Transfer-to-Heirs)

This service is intended for those who are inheriting the Spanish assets of a deceased person, whether as the legal heir to an estate or by means of a will


The Estate transfer to heirs service includes

• Requesting of copies of the Death Certificate, in the event that the death took place in Spain.
• Requesting of a Will Certificate information and location from the Central Registry of Wills in Madrid.
• Obtaining of the Will from the Notary Public where it was signed / Estate Heirs Statement (in those cases where there is no will)
• Compiling assets list
• Inheritance Acceptance
• Partition of the inheritance according to what the will states, or, where there is now will, to the desires of the inheritors .
• Applying for beneficiarie's NIE number to fila and pay Death duties
• Arrangement of payment of the applicable Inheritance Tax.
• Inscription at the Land Registry of the new owners of the Estate inherited.

Please read the following articles written by us on the matter of Spanish inheritance:

DRAWING UP A SPANISH WILL: THE ADVANTAGES (http://www.levantelifestyle.com/html/?p=1432)-5th of May 2009

Free Testamentary Disposition for UK Citizens: Only if You Own Property in the UK (http://belegal.com/blog-by-antonio-flores/free-testamentary-disposition-for-uk-citizens/) - 22nd October 2008

Ways on How to Avoid Inheritance Tax on Spanish Property (http://www.marbella-lawyers.com/articles/showArticle/how-to-avoid-spanish-inheritance-tax-on-spanish-property) - 22nd June 2005

Applicable Inheritance Law to Estate Located in Spain (http://www.marbella-lawyers.com/articles/showArticle/spanish-estate-inheritance) - 16th April 2004

Spanish Inheritance Tax: How much is it? (http://www.marbella-lawyers.com/articles/showArticle/spain-inheritance-tax) - 1st February 2000



Yours faithfully,
Raymundo LarraÃ*n Nesbitt