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Poor planning, or no planning can make an
already sad situation a disaster. Dealing
with death and the transfer of an estate can
to a large extent be planned in advance,
leaving those who have to deal with it a
clear passage.
Often the fact that money is in the wrong
place is a contributory factor to difficulties,
particularly if the money is a bank in Spain
and has been frozen by the authorities.
It is a sad fact but everyone at some point
in life will deal with the transfer of an estate
probably of a loved one. It is a subject
which is rarely discussed in a timely way.
For those living in Spain and probably
owning property this often involves cross
border laws and assets and is complicated.
It is vital therefore to have proper Wills in
each country where assets are held.
There are processes in Spain to deal with
the transfer of an Estate. This usually starts
with a valid Will registered in the Wills
Registry in Madrid from where a Certificate is
required. If no Will exists then subject to the
existence of an English Will, assets will be
distributed in accordance with either English
or Spanish Law. If no English Will exists
then Spanish Law applies.
already sad situation a disaster. Dealing
with death and the transfer of an estate can
to a large extent be planned in advance,
leaving those who have to deal with it a
clear passage.
Often the fact that money is in the wrong
place is a contributory factor to difficulties,
particularly if the money is a bank in Spain
and has been frozen by the authorities.
It is a sad fact but everyone at some point
in life will deal with the transfer of an estate
probably of a loved one. It is a subject
which is rarely discussed in a timely way.
For those living in Spain and probably
owning property this often involves cross
border laws and assets and is complicated.
It is vital therefore to have proper Wills in
each country where assets are held.
There are processes in Spain to deal with
the transfer of an Estate. This usually starts
with a valid Will registered in the Wills
Registry in Madrid from where a Certificate is
required. If no Will exists then subject to the
existence of an English Will, assets will be
distributed in accordance with either English
or Spanish Law. If no English Will exists
then Spanish Law applies.
| Costa Blanca Lawyers - Estate Transfer & Probate - legal advice in English from English Lawyers |
Details of all the assets are collected,
together with all the relevant paperwork and
the beneficiaries identified. Identification
documents of the beneficiaries must be
notarised, apostilled and translated into
Spanish. Often the beneficiaries to an Estate
in Spain live abroad making the process
difficult and often lengthy.
Every beneficiary must have an NIE number
because a Notary is unable to deal with any
transaction without it. It is also possible for a
beneficiary to give Power of Attorney to a
trusted person or lawyer in Spain to deal with
the estate on their behalf.
The beneficiaries must attend a Notary for
acceptance of the inheritance and completion
of the Transfer. At this point inscription /
registration at the Land Registry of the new
owners of the property will take place
together with the transfer of movable assets,
such as money.
Funds must be available for payment at the
Notary of the Inheritance Tax. Calculated
depending upon the beneficiaries, their net
wealth and their relationship with the
deceased. Inheritance Tax must be paid
within 6 months of death If not there are
penalties which can be quite high. For help,
with Estate transfer and Probate call us today
together with all the relevant paperwork and
the beneficiaries identified. Identification
documents of the beneficiaries must be
notarised, apostilled and translated into
Spanish. Often the beneficiaries to an Estate
in Spain live abroad making the process
difficult and often lengthy.
Every beneficiary must have an NIE number
because a Notary is unable to deal with any
transaction without it. It is also possible for a
beneficiary to give Power of Attorney to a
trusted person or lawyer in Spain to deal with
the estate on their behalf.
The beneficiaries must attend a Notary for
acceptance of the inheritance and completion
of the Transfer. At this point inscription /
registration at the Land Registry of the new
owners of the property will take place
together with the transfer of movable assets,
such as money.
Funds must be available for payment at the
Notary of the Inheritance Tax. Calculated
depending upon the beneficiaries, their net
wealth and their relationship with the
deceased. Inheritance Tax must be paid
within 6 months of death If not there are
penalties which can be quite high. For help,
with Estate transfer and Probate call us today
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Grief is bad enough - Do not give your family more - Estate planning is vital.......
Beneficiaries of an
Estate need an NIE
Acceptance of
Inheritance done
before a Notary
Inheritance Tax must
be paid within 6
months of death by
the Beneficiaries
Funds should be
available to pay tax
before beneficiaries
receive the transfer of
an estate including
any money frozen in
bank accounts.
If sufficient funds are
not available to pay
taxes your loved ones
may not be able to
accept your estate or
worse could be
bankrupted
Leaving your Estate to
someone back in the
UK? Let them know
what to expect from
the Spanish legal
system and their tax
obligations beforehand
Estate need an NIE
Acceptance of
Inheritance done
before a Notary
Inheritance Tax must
be paid within 6
months of death by
the Beneficiaries
Funds should be
available to pay tax
before beneficiaries
receive the transfer of
an estate including
any money frozen in
bank accounts.
If sufficient funds are
not available to pay
taxes your loved ones
may not be able to
accept your estate or
worse could be
bankrupted
Leaving your Estate to
someone back in the
UK? Let them know
what to expect from
the Spanish legal
system and their tax
obligations beforehand
| NORTH OFFICE ALFAZ DEL PI Tel 966 860 555 Calling From The UK? 3p per minute anytime Tel 08444 257 633 Contact SOUTH OFFICE SAN FULGENCIO Tel 966 727 931 Contact |
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