Setting up a spanish will

Hi

we've just bought and have been advised to set up a spanish will to ensure there are no problems should anything happen to either of us.

Has anyone done this and can they recommend a solicitor and how much are we looking at ?

The solicitor we used to complete has quoted 180euros which seems steep ?

thanks in advance for any advice

Hi Duesy

Contact Glyn Moran, works from Jennifer Cunningham's office in Benijofar.

http://www.legalandfiscal.com/index_files/page0007.htm

He seems to be very reasonable for most legal stuff. He posts on EOS too. Many of our members in the area are using him for wills & fiscal duties.

Email info@legalandfiscal.com

Just seen 145€ each mentioned in another forum at Dabai on the front in Torrevieja opposit Real Club Nautico www.dabai.es Tel 965713685

cheers mate - and just around the corner from us

thanks

Does anyone know anybody reasonable around Aguilas?  Also should something happen to me does two thirds of the property go automatically to the children.  I would prefer it goes to my husband. 

Maria De Castro from this site done ours, she was great, all we had to do was take it to the notary and it was done very quick.

If I die it goes to my husband and the same if he dies it goes to me. then when we are both gone it goes to the children.

Mojito:

That rule of the thirds would apply if you were an spanish national. If you have a foreign nationality, Spanish Inheritance law does not apply but the Inheritance Law of your nationality ( even if you are a Spanish resident of course). 

The fact of doing a  Spanish will is just to the effects of easier and quickier probate procedures for the adjudication of your spanish assets.

Regarding Spanish Inheritance tax: If you are a spanish resident your whole patrimony , all your assets at the moment of your death, worlwide will be taxed by the Spanish Inheritance taxer, if you are not a spanish resident just those assets located in Spain will be subject to Spanish Inheritance Tax.

Hope this clarifies a bit!

Maria

 leema, sorry it doesn't sound the most efficient way (Tax wise) of setting up a will in Spain. Surely it would be more tax efficient if your halves were left to the children? Otherwise you have to pay IT when one of you departs, that half will be subject to IT when the second goes and it passes to your children. Feels and sounds expensive or have I misunderstood how it works? Kevin

An answer for kev2006n ( below in bold green):

Surely it would be more tax efficient if your halves were left to the children? 

If the house was the habitual dwelling of the couple: a reduction of 95%-99% on the taxable amount  will apply.  

If not:  leaving the house directly to the childres is more tax wise for the spouse but...the  property will get into a co-ownership of many ( or at least of some), with its attached inconviniences and risks.

 I thought that would be the case. Hopefully when there are only children involved the risks are not that great.

We bought a property last year as a holiday home so it would not be our habitual dwelling. We've put the house in my sons name and we have the right to use it for the rest of our lives. He has done a Spanish will leaving the property to his brother. Hopefully that avoids paying inheritance tax both in Spain and the UK when we die! Although it would not be our problem! lol!

We have made a seperate will in England, our Spanish will is only for the property in Spain.

Further answers for you kev2006n:

Hopefully that avoids paying inheritance tax both in Spain and the UK when we die!

It will depend on if you are Spanish residents or not at the moment of your death and on if byu that moment  you have assets both in Spain and the UK or just in Spain.

 Sorry Maria, but as the Spanish property is in my sons name there should have no liability on the death of myself and my wife?

Dear Kev2006n:

Oh no! Apologies as I did not read the post correclty or read it with an absent mind and interpreted that you have made a will to and  have named your son as heir.

Yes, if your son is the owner, he does not need to worry on your ( his parents) inheritance taxes regarding the house, obviously.

Putting the house into your heirs´ name is a great idea  in a pacific family climate.

Best wishes

Hi there we have property in spain but we have not made a will yet.  how do i go about making a will in spain? i have a solictor in spain but i feel they rip us off lots of times on certain things.  can you help... we was told the price is 300 euros each from our solictor???

 I paid about that for mine. A spanish will is more complicated as it has to be notarized and this is entered in the registry of wills which of course costs a few euros.

A handwritten will is not acceptable.

Check with a few lawyers for the costings but you will find similar prices. It has to be in Spanish but ensure you have an official english translation, I paid more for that and mine is in both languages and registered.

 Dear Maria, Thank you for reply. We thought it was a good way to cut out any taxes our children would have to pay. However, I do agree that you must be able to trust your children.

Tazwildman, It may seem a lot of money. However, there does seem to be a number of steps to follow. At least by paying a lawyer you will know that everything has been put into place to follow your wishes. Just make sure you get everything in so that you do not need to revamp it in a few years time.