Legal 4 Spain

Can it be too late to make a Will of Spanish Assets?

anne — Thu, 17 Dec 2009 16:28:40 +0000

At Legal4spain, we have facilities for making valid Wills of Spanish assets for as long as the signatory has the necessary mental capacity, irrespective of physical state of health and location. Clearly, it is always best to plan ahead. However, in some cases we are approached by clients facing terminal illness, who quickly wish to put their affairs in order. It is a great relief and comfort to them and to their families, under these difficult circumstances, to ensure that their wishes in respect of their beloved Spanish properties will be carried out. Also, there are opportunities in many cases to structure arrangements, so as legally and legitimately to minimize the family’s Spanish Succession Tax liability.

Do I have to update my Will if I re-marry?

anne — Tue, 03 Nov 2009 21:15:20 +0000

Yes.
For English Wills, unless there is a specific provision in the Will anticipating the marriage in question
Yes (usually).
For Spanish Wills (in relation to non-Spanish testators).
In both cases, as this is such an important issue, to avoid any uncertainty, Legal4spain recommends always on remarriage, to seek advice on all Will documentation and we will be happy to assist with this.

Do I have to come to Spain to inherit Spanish assets?

anne — Mon, 05 Oct 2009 10:11:01 +0000

No.
Legal4spain has agreed form documentation with all 3 Spanish Consulate offices in the UK (and also the Spanish Consulate offices in various other countries) for initiating the legal procedures, thereby avoiding the requirement for beneficiaries to come to Spain. Even for those who are unable to attend a Spanish Consulate office, we have alternative procedures in place with Public Notaries throughout the UK to achieve the same objective.

Is it true that my (same sex) partner will have to pay 80% inheritance tax on what I leave him?

anne — Mon, 14 Sep 2009 21:58:21 +0000

Spanish Tax law can indeed lead to very unfortunate (fiscal) consequences in the context of inheritance by same sex partners- particularly if the relationship is not “recognised” with civil status. (It has to be said, an 80% marginal rate is not impossible, but it is virtually the worst case scenario). In any event, Spanish estate planning in the context of same sex relationships is a very complex and specialised area of practice, especially without the correct advice. At Legal4spain we are able to provide the best (and most tax efficient) solutions.

Does a new passport mean a new Will?

anne — Thu, 18 Jun 2009 09:35:10 +0000

No!

Unless there are other reasons for wishing to make a new Will- (eg. change of beneficiaries). However, we always recommend in these cases for old (expired) English passports to be retained with your personal papers for easy evidential purposes in probate. Also, in all new Spanish Wills we provide, we include N.I.E. details (if available) for the beneficiary, as this form of identification does not change.

Is it true that I have to leave my Spanish house to my children?

anne — Thu, 07 May 2009 14:45:06 +0000

No

In the vast majority of cases, English nationals are not subject to the Spanish law of succession (which does require parents to leave specified proportions of their estates to their children). This is something which we carefully consider in each case (it needs Spanish and English legal input to advise properly, which we provide as part of our service.

If a death goes unreported for 4 years, can you avoid inheritance tax in Spain?

anne — Thu, 02 Apr 2009 16:47:57 +0000

NO!
Whilst some believe that the Spanish Tax Authority might have been easily fooled in the past, that is not the case now. The reality is that for a tax debt to be ’statute barred’, the period is longer than 4 years. Hacienda have strong and far-reaching investigative powers these days. Resources are very serious indeed about collecting Succession Tax when it is due. At Legal4spain, we would never recommend such evasive measures, simply because they are unwise, as well as unnecessary. There are totally legal and legitimate ways to reduce your tax exposure by planning ahead. Not to mention, the benefit of helping you sleep at night without fearing Hacienda’s knock at your door!

How important is your N.I.E.?

anne — Mon, 09 Feb 2009 23:27:35 +0000

In relation to estates with Spanish assets, the Spanish N.I.E. (Número de Identificación de Estranjeros) number is the foreign individual’s fiscal identity number. If you have a Spanish property and/or a bank account, you will probably already have this number so you do not need to take any action. Otherwise, it should be applied for as soon as possible. Also, any beneficiaries, who are intended to inherit Spanish assets under your will, require an N.I.E. number. It is highly advisable for all beneficiaries to have N.I.E. numbers at the earliest stage possible- i.e. during the lifetime of the testator, as this speeds up the probate process and can therefore significantly reduce costs and the likelihood of delays. We can provide support for obtaining N.I.E.s both in Spain and without the applicant even leaving home.

Hello world!

admin — Sat, 17 Jan 2009 22:08:52 +0000

LEGAL4Spain is go!
Since the launch of LEGAL4Spain, the company has been busy providing Wills, estate planning, probate services and advice for clients with assets in Spain. Managing Director Andrew Eastwood is delighted to announce the launch of their new web site at LEGAL4Spain.com.
This unique business has already provided reassurance and proficient legal and commercial advice to people who live around the world and own properties and other assets in Spain.
Andrew has commented, “Our team is committed to helping clients feel confident that their property will be passed down to their beneficiaries in the most effective and tax efficient manner. Our task is to ensure that the wishes for the inheritance of their assets are fulfilled exactly as they intended.”