spanish inheritance tax rules

LoadingFavourite

This topic contains 10 replies, has 4 voices, and was last updated by Profile photo of Anonymous Anonymous 6 years, 6 months ago.

  • Author
    Posts
  • #53821
    Profile photo of Anonymous
    Anonymous
    Participant

    hola,
    i am currently in the process of buying a house in the alicante province, which i believe comes under the Valencian province rules.
    does anyone know what really are the rules and regulations with regard to the inheritance tax.
    what are the percentages?
    there are so many “experts” out there, but if i do not complete the buying process correctly ,then it could have serious implications for my wife or children in the event of my death.
    i would be turning in my grave if i thought that not only had i wasted my hard earned, but also put my family in a difficult situation.

  • #98879
    Profile photo of Anonymous
    Anonymous
    Participant

    The situation depends if you and your heirs are resident or non resident in Spain (in this case, in Valencia region).

    Residents in Valencia are currently exempt of payment of inheritance tax.

    Non residents pay the inheritance tax to the central government regardless the location of the property.

    The criteria to calculate the inheritance tax are various: the value of the asset, the relationship between heirs and the previous owner, the value of the assets owned by the heirs prior to accept the inheritance, etc.

    There are various measures that can be taken to reduce the impact of the inheritance tax, but my advice is that you discuss your case with a professional legal advisor in a proper manner. The information you can get through forums could be worthy in general terms but at the end of the day you have to take your decisions based on accurate advice focused in your particular case.

    Best regards

    Javier Moya

    Abogado/Lawyer
    MT Legal Abogados

  • #98882
    Profile photo of Anonymous
    Anonymous
    Participant

    “my advice is that you discuss your case with a professional legal advisor in a proper manner.

    Yes, sound advise. Where do you find a professional legal advisers ? The ones that are locked up or the ones who gives advise that is detrimental to their clients and only benefit the so called professionals or the ones who taken clients money, or the ones that do not reply to emails, letters, phone calls or the ones who do not refund clients money.

    Maybe the ” colegio de abagados” can recommend a lawyer who is related to the staff working there at the colegio !!!!!!!!!!!!

  • #98883
    Profile photo of Anonymous
    Anonymous
    Participant

    @shakeel wrote:

    “my advice is that you discuss your case with a professional legal advisor in a proper manner.

    Yes, sound advise. Where do you find a professional legal advisers ? The ones that are locked up or the ones who gives advise that is detrimental to their clients and only benefit the so called professionals or the ones who taken clients money, or the ones that do not reply to emails, letters, phone calls or the ones who do not refund clients money.

    Maybe the ” colegio de abagados” can recommend a lawyer who is related to the staff working there at the colegio !!!!!!!!!!!!

    Shakeel

    I agree that there are many lawyers/tax advisors who don’t deliver a proper quality service, I see that every day. However, I don’t think this is different to any other profession (i.e. doctors, architects, etc).

    When you feel unsure about the quality of the service you may get from a professional, what I suggest to do (and this is what I do when I need any service from any professional) is to ask recommendation from somebody who I trust who has had a good experience and who could recommend that person. In any event, this will never guarantee 100% that you will get proper service anyway either…

    The colegio de abogados will not recommend you an specific lawyer in detriment of the rest, as this is not the colegio de abogados function.

  • #98884
    Profile photo of Anonymous
    Anonymous
    Participant

    “I agree that there are many lawyers/tax advisors who don’t deliver a proper quality service, I see that every day. “

    Yes, they are a minority & in most countries they dont last very long. They should also not last long in Spain. If the colegio itself was professional & rigorous in its Audit & supervision and protect the integrity of the profession.

    In a serious Countries when people take up profession is because that is what they want to do. Studying “Darecho” because you dont know what you want to do and end up being a lawyer is not going to produce bright, competent & professionals. Whilst they have their office they also become “administrator of fincas” without even becoming a member of it so that they could be governed by their code of practise. This clearly shows the lack of focus.

    “When you feel unsure about the quality of the service you may get from a professional, what I suggest to do (and this is what I do when I need any service from any professional) “

    You are there & you have time to source these people, what I would call an “enchufes” another curse of Spain for which the majority of the people that suffer are the Spaniards. Why cant these so called professional be professional and if they are dealing in an area of law which is not their expertise state to the client and not take their money to mess things up for them.

    Not all laweyers can win your case or give you advise. They can however make a judgement on balance of probebality. Something I have never heard from a so called Spanish professional.

    “is to ask recommendation from somebody who I trust who has had a good experience and who could recommend that person. In any event, this will never guarantee 100% that you will get proper service anyway either…”

    I agree as you can see from above. Nothing in life is 100% certain. However if they dont even want to aim for 50%, where will it end in terms of their competance.

    “The colegio de abogados will not recommend you an specific lawyer in detriment of the rest, as this is not the colegio de abogados function”

    Yes, I know it is not done officially. One wonders what is there function in theory !!!!

    Sorry, I am not trying to be unkind to you. The above situation has destroyed the trust in Spain. As a result coming generations will suffer. Spain cannot rely on sun, cheap holidays or fruits from Murica.

  • #98885
    Profile photo of Anonymous
    Anonymous
    Participant

    It is my experience that the Collegio de Abogados do absolutely nothing to bring about the cleaning up of crooked lawyers, particularly in the Marbella region, by bringing them in and taking away their practicing certificate in order to stop trusting clients being conned by them and having large sums of money taken from them.

    Javier, what exactly is the roll of the Collegio? They do not appear to oversee a code of practice.

  • #98889
    Profile photo of Anonymous
    Anonymous
    Participant

    The Colegio has several rolls, one of them the disciplinary control of lawyers according to our professional rules stated in the Estatuto de la Abogacía:

    http://www.icamalaga.es/portalMalaga/archivos/ficheros/1245838849001.pdf

    If the infringement commited is very hard, the lawyer can be banned to practise up to 2 years or even see how his license is revoked.

    Unfortunately, I only have access to a Spanish version of the Estatuto.

  • #98890
    Profile photo of Anonymous
    Anonymous
    Participant

    Claire, I know in certain professions including the legal profession in Spain, practising certificate have been taken away and unqualified peolpe carried on their profession or shall I call it vocation.

    There are some qualified from highly suspect Universities or countries whose qualifications are officially not recognised in Spain/EU, have practised their trade openly.

    Sadly, this is how the Spanish society works unchecked.

  • #98891
    Profile photo of Anonymous
    Anonymous
    Participant

    “If the infringement commited is very hard,

    What is their definition of hard ???? Hundreds of people that have swindled for thousands or have suffered due to down right incompetence, they have taken the matter to the colegio.
    The colegio has not found their complains to be hard !!!!! In some cases their complains have not even been acknowledged.

    “the lawyer can be banned to practise up to 2 years or even see how his license is revoked “.

    So, a lawyer can take a financial view that he/she could be banned for two years & return and carry on their merry ways. As you very well know that even some lawyers whose license has been revoked have carried on. The colegio had been notified and yes took no action.

    The above is an open invitation to be corrupt.

  • #98892
    Profile photo of Anonymous
    Anonymous
    Participant

    muchas gracias Javier,
    also thanks to everyone else, but I seemed to have opened a forum for character assasination of dodgy lawyers.
    I prefer to believe that a lot of them are misinformed with regard to Inheritance Tax, and probably corrupt in other ways

  • #98899
    Profile photo of Anonymous
    Anonymous
    Participant

    Jenko. It was not character assassinated anyone. It is the reality. The amounts involved wheter its IHT or purchase of a property are large a wrong advise can be devastating for people. Look at the case of Mr & Mrs Prior.

    For the so called professional to cold bloodily swindle people. What else can one say. I sincerely hopes that ” Javier” does not take this personally. It is his profession, it is his future earnings and the future of his children & the others.

    The truth can be harsh & can at times encourage us to self reflect. I do not wish to bring Spain done. I love the Country and had been fortunate to not have been caught out in the mess. But that does not warrant of taking an attitude of I am alright Jack.

You must be logged in to reply to this topic.