Spanish Inheritance Tax: How much is it?
This is the discussion thread for the article Spanish Inheritance Tax: How much is it?
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I have read several conflicting pieces of advice with regard to the treatment of stepchildren in Spanish Succession laws. Some advisers say they are treated the same as no relation (Group 4) and some say they are in Group 3. How can I find out the correct position. It makes a big difference to me. The property in question is in Andalucia.
Spanish Inheritance Tax: How much is it?
please could you advise as to which group my cousin would be classed in
She is my mothers brothers only child
Ihave recieved differant answers and need the correct one please
Spanish Inheritance Tax: How much is it?
We have spanish wills but what happenes regarding inheritance tax if one of the partners die, we have 4 adult children that live in the UK.
Spanish Inheritance Tax: How much is it?
Hi, My parents purchased an apartment in Costa del Sol spain about 16 years ago, we live in the uk. They are both on the deeds and do not have a spanish will. My dad died 7 years ago and the apartment was not mentioned in the will. Obviously his estate went to my mum. The apartment was bought for £35,000 and at my dads time of death would have been worth about £95,000. Would my mum have to pay approx £10,000 in capital gains tax? Also we have only been made aware that there is a wealth tax, how much is this per year? This may have been paid for the first two years only. Also, what documents would we need to bring to a spanish lawyer?. My mum would like to leave the apartment in her will to myself and my sister, what would be the easiest way of doing this, or can we purchase it of her? I know this is a lot to ask all at once, any information would be a great help. Kind regards, Beverley
Spanish Inheritance Tax: How much is it?
My father has passed away. he owns a apt. in spain. I am 45 and my brother is 49. The property is paid for. We live in the USA. what should I do now?
Spanish Inheritance Tax: How much is it?
Catalunya changed the law on adopted children last year and now they are treated the same as any direct descendant..
Spanish Inheritance Tax: How much is it?
My partner and I are not married, but we have joint ownership of our property. We are both tax residents in Spain. Would it benefit us to get married with regards to inheritance tax?
Spanish Inheritance Tax: How much is it?
My husband died unexpectedly after living in Spain together for 25 years, and having permanencia. Having reached pension age and retired, our only assets are our home valued approx 300.000 euros and in joint names, other than that we lived on our pension. What sort of money is it going to cost me to have the house transferred to my name so that I can sell and downsize?
Spanish Inheritance Tax: How much is it?
Sorry..me again..if I cannot afford the inheritance tax to claim my husbands share of our joint owned property....is there any reason that I couldn't sell my half in order to raise the funds to pay the inheritance tax....I'm feeling quite desperate, and never imagined that at 70, I would be left in this situation....we did everything legal, and both thought that each other would be fairly safe.
Spanish Inheritance Tax: How much is it?
Mr step daughter mother died three days ago just as she was to sign the sale of her apartment and return to the UK. She made an english will leaving everythink to her daughter. Am I reight to assume she as to have a lawyer in Spain and one in England. Will the English will be accepted.Can the sale go ahead and what needs doing. The Spanish laywer dealing with the sale as the deeds as she died the night befiore she was due to sign and in fact they investigated why she did not turn up .and called the police to break in. My step daughter is quiet fragile and is fearful she will will be ripped off.
Spanish Inheritance Tax: How much is it?
My mam died two years ago in Spain, she bought property with my stepdad.
before she could sign her will she died.
With Spainish law who does the property go to.
Spanish Inheritance Tax: How much is it?
Her nationality is English she is married to my stepfather and there was no will made at home, the day she was to sign her will in Spain she died, my mother have one daughter to my stepfather. She had no other property in England, the only property they had was in Alicante.
Spanish Inheritance Tax: How much is it?
Dear Sir,
My father passed away in Feb 2006 and at the time of his death, his 50% of the property passed to my mother. At the time of his death, my mother was asked to pay 1700 euros (although she cannot remember now what this was for) and now she is selling the property, she is being asked to pay IHT in excess of an additional 10,000 euros. My mother has been advised that the law has recently changed whereby the surviving spouse receives a 95% allowance on IHT but unfortunately my father died before this date and as such she must still pay at the previous rate. This seems very unfair, does this sound right?
Spanish Inheritance Tax: How much is it?
Dear Sirs, my grandfather (mother's father) died a few years ago, leaving property in Majorca and his assets to his 2nd wife in a Spanish will. Now she has died and has left the whole estate to myself and my brother, as well as my uncle. Although we are blood relations to my grandfather and those were his wishes, we apparently are not blood relations to his 2nd wife and there is confusion over what should be happening.
She has no living family.
The Spanish solicitor has appointed himself as executor which we find surprising, and has told us to wait 24 days until the will can be read. He has locked the property up, holds the keys and refuses any person to go there until the will has been read.
He has also advised we will have to pay "high IHT" but has not quoted a figure.
Any advise would be useful as we are very concerned with all of the above.
Many thanks.
Spanish Inheritance Tax: How much is it?
My mother and father, married to each other, own a property in Alicante Province. They are both German citizens, and do have Spanish NIE numbers, as far as I know. They are both on the deed, the home valued at approx. 120,000 Euros. If one partner dies, what is the tax liability for the other partner, being that they are not Spanish citizens.
Best Regards,
Joe Hill
Spanish Inheritance Tax: How much is it?
Dear Sirs.
My partner and I bought a house near Denia, Alicante. I would estimate the house to be worth in the region of Euros 600,000 and it is in our joint names. We are not married. I have three children aged 17,19 and 22. My partner has a son aged 15. We are making a spanish Will on 28 July. We would like to leave the house to the other surving partner. Should we both die together then we would divide the house equally between the four surviving children. As we are not married, I assume that I would be considered group 4 and would have not qualify for any inheritance tax allowance. Would this be on just one half of the property as it is in joint names? Also, should we both die, please would you define which groups the children would fall into with regards to inheritance tax? We do plan to get married but thought it would be the responsible thing to make a will now. Do we have to make another will when we marry? Thank you very much. Regards, Susanna K
Spanish Inheritance Tax: How much is it?
Dear aflores
Thank you very much for your valuable advice. Please permit me one more question: When we are married, would any step-child be considered as if they were your own child? None of the children have been legally adopted. As mentioned before, the house is in Alicante district and we are non-resident at present. Thank you once again. Regards, Susanna.
Spanish Inheritance Tax: How much is it?
My husband and myself are thinking of buying a property and moving to Spain on a permanent basis. I have concerns about IHT due to be being a few years younger than myself I could be the surving spouse. We have no children so I would probably leave the property to my nieces and nephews who are blood related to my husband what category would they be appropiate for IHT.
Spanish Inheritance Tax: How much is it?
If I make a Power of Attorney over to my son, so can he sell my apartment after my demise, on the Costa del Sol without having to pay tax to take it over first. It's impossible that he could raise sufficient cash to pay the tax on the property.
Thanks a lot
Spanish Inheritance Tax: How much is it?
Dear Sir/Madam, my father passed away in December. He jointly owned an apartment in Mazarron with my mother. It was on he market before he died for 90,000 euros. Before we can sell it we obviously need to pay IHT. The beneficieries are my mother, myself and 2 siblings. I am extremley worried we cannot afford to pay inheritence tax as we have no savings whatsoever. (siblings are both at university and I am a single mother.) I dont even know how much it is? What would happen now? Can we just give up the apartment to the spanish state? It is not ideal but I am scared of us all owing huge amounts of money,
Thank you.
Spanish Inheritance Tax: How much is it?
Dear Sir/Madam,
I forgot to mention that my mother and father were not resident in spain.
Thanks again
Spanish Inheritance Tax: How much is it?
Thank you so much Raymundo for taking so much trouble with my query.
Maybe a POA would be helpful in the meantime, in case I degenerate slowly + cannot take care of my own affairs. Would a POA need to be made in Spain ? Thank you so much for your reply - I'm now going to read your articles.
Kind regards - Rosemary