Buying Property - Protecting Myself (Ongoing Divorce)

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19 Jul 2018 09:20 by stephen57555 Star rating. 2 posts Send private message

Hi all,

Currently in the midst of a nasty divorce process with soon to be ex Spanish wife, we have one child together.

Thinking of buying a property here but not sure which is the best method of doing this in order to be suitably protected. Options / thoughts below, all help greatly appreciated! Cheers, Stevo

 

1. Buy in Childs name. But with 'usofructo' for me during my lifetime. 

 

2. Use of Spanish Company / Trust Structure (UK / non resident trust attracts 3% tax so avoiding this option)

Spanish Company Structure high annual costs, company returns etc, tax on profits (of which there would be none)

 

3. UK Grandparent gets NIE here and buys in their name. UK Inheritance tax considerations. 

Also works well with custody because I can pay a fixed rental to them, costs that would be relevant in a legal / custody battle. Options 1 and 2 don't have this.

 

 

Any other ideas greatly appreciated. Just trying to protect myself having seen the very ugly side of divorce, wife is 'high conflict' and seems to want nothing but conflict in every single way possible, so all my decisions have to be well thought out now :)

 

 

 

 

 





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19 Jul 2018 10:16 by baz1946 Star rating. 2151 posts Send private message

Honestly now don't you think you really need the advice of a fully trained professional who deals in these matters rather then a forum about the ways of living in Spain.

If you did get advice from on here are you sure you could use it in, say a court of law considering how complex your case might end up being.

If you think that Spain has no professionals to help then maybe the UK has, but here with your situation you are in,  I think not.





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19 Jul 2018 17:57 by stephen57555 Star rating. 2 posts Send private message

Hi Baz,

Defintely will get proper legal advice on it I'm more just thinking out loud on here if that makes sense.

I'm going to wait until the divorce process is over before I do anything property wise but as I'll have commitments to my child and the possibility of regular assessments etc I want to make sure that I don't fall foul of anything.

I think both here and in the UK I can get good advice, will certainly make sure I do, cheers for the help





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19 Jul 2018 22:03 by baz1946 Star rating. 2151 posts Send private message

Good luck Stephen with it all.

Yes, your child is the most precious thing you will ever have, never lose that contact.

One bit of advice I can give you, which you probably know anyway so not teaching you to suck eggs, who ever with or where ever you sort your divorce out...Double Double check everything, take no one's word as gospel,  take nothing on face value, never sign anything unless you are 100% and happy..(As much as you can be in this situation)...That all is okay.





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22 Feb 2020 09:59 by Rodrigezz Star rating. 2 posts Send private message

If you are already divorced, you are safe:) Real estate in Spain has huge rental potential: the acquired area for permanent or temporary residence, renting out (tourist flow at any time of the year) or for investing funds.





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