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Hello everyone,
before I attempt to get professional advice on this I would appreciate any pointers that you can offer.
The situation isn’t a great one. After many wonderful years in the sun my father in law looks like he may be enjoying his last few months in Spain before his medical problems overtake him. He is based in the Alicante area with a small house worth around €130,000 at current market rates, no debts. His daughters are both UK based and his plan is to pass the property onto them to enjoy as he has done. I have 2 questions,
a) When he dies will there be death duty payable on the 130,000 euro property ? any ideas how much ? Just approximate answers are very useful pointers for us
b) his will. Getting him to address this has been difficult and he may not be able to face getting a will arranged. I know a will is formally needed, but trust me, this is not something that I think he will be able to face up to. If he doesn’t make a will I assume under spanish law the property would pass to his daughters anyway. Any views/comments here would be appreciated.
Finally, if anyone does know (or if you are) a spanish lawyer with good english then I would be grateful for the contact number.
I should also say that the time he has spent in Spain has been fantastic for him, he has had a new lease of life thanks to the sun and the relaxed way of life, I think only the standard of driving in Spain has upset him !. These last few years have been unbelievably good for him so we are doing our best to celebrate the time he has had rather than worrying about what may happen next.
appreciate any comments/views.
Kingy
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Not sure if the rules allow this (I have never read them 🙂 )
Why don’t you post here..
http://belegal.com/forums/forumdisplay.php?f=17
Yes they are fishing for business by appearing helpful. But they might give you a broad indication to your question.
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@kingy wrote:
Hello everyone,
before I attempt to get professional advice on this I would appreciate any pointers that you can offer.
The situation isn’t a great one. After many wonderful years in the sun my father in law looks like he may be enjoying his last few months in Spain before his medical problems overtake him. He is based in the Alicante area with a small house worth around €130,000 at current market rates, no debts. His daughters are both UK based and his plan is to pass the property onto them to enjoy as he has done. I have 2 questions,
a) When he dies will there be death duty payable on the 130,000 euro property ? any ideas how much ? Just approximate answers are very useful pointers for us
b) his will. Getting him to address this has been difficult and he may not be able to face getting a will arranged. I know a will is formally needed, but trust me, this is not something that I think he will be able to face up to. If he doesn’t make a will I assume under spanish law the property would pass to his daughters anyway. Any views/comments here would be appreciated.
Finally, if anyone does know (or if you are) a spanish lawyer with good english then I would be grateful for the contact number.
I should also say that the time he has spent in Spain has been fantastic for him, he has had a new lease of life thanks to the sun and the relaxed way of life, I think only the standard of driving in Spain has upset him !. These last few years have been unbelievably good for him so we are doing our best to celebrate the time he has had rather than worrying about what may happen next.
appreciate any comments/views.
Kingy
Hi Kingy, sorry to here about your father in law. The taxes and amounts that will have to be paid will vary depending on who is inheriting the property. I beleive the amount that would have to be paid would be calculated based on the Valor Catastral, not on the market value. The fact that there are 2 inheritors as opposed to one i beleive the tax should be lower. inheritance law is complex.
Sorry cannot recommend any lawyers in your area. I can recommend a great one down here, but i assume you want one who is more local?
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