Property left in a will
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Property left in a will
Hi can anyone help us please we are hoping to move to spain in the future depending on answers on here. Me and my husband have both been married before and have children from our previous marraige but all the children are now grown up .If we were to buy a house in Spain in joint names and we made a will saying if one of us died that the other half of the house goes to the surviving spouse would this be honoured in Spain or does it legally go to the children of the deceased thanks
I am hoping to relocate to spain in a couple of years
- safeashouses
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I googled and found this http://www.spanishwills.co.uk/main.htm also Beachcomber covers wills here http://andalucia.com/forums/viewtopic.p ... ight=wills
Last edited by safeashouses on Wed Sep 26, 2007 9:24 pm, edited 1 time in total.
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Spanish inheritance law is quite complicated and restrictive as far as who you can leave your assets to.
A foreigner can make a Spanish will which is quite contrary to Spanish inheritance law and, by convention, it will be honoured in Spain.
However, it is possible that any potential beneficiaries, under the Spanish laws, could contest that will in the Spanish courts and have the will overturned in their favour.
Spanish inheritance law and foreign wills are well covered on this site.
http://tinyurl.com/2u6etg
Sid
A foreigner can make a Spanish will which is quite contrary to Spanish inheritance law and, by convention, it will be honoured in Spain.
However, it is possible that any potential beneficiaries, under the Spanish laws, could contest that will in the Spanish courts and have the will overturned in their favour.
Spanish inheritance law and foreign wills are well covered on this site.
http://tinyurl.com/2u6etg
Sid
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thanks for help
Thanks for the help everyone as I have been reallyworried about this and I hope to join you all in spain in the future thanks chris
I am hoping to relocate to spain in a couple of years
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Assuming that you have total trust in each other you should also consider granting mutually reciprocal powers of attorney. Although a power of attorney ceases to be valid on the death of the granter it can be of considerable help in the event of incapacity of either of the spouses.
Given the current level of inheritance taxes it can be more expedient and less expensive to transfer your spouse's half of the property to yourself prior to his/her imminent death especially if you are unmarried partners.
Given the current level of inheritance taxes it can be more expedient and less expensive to transfer your spouse's half of the property to yourself prior to his/her imminent death especially if you are unmarried partners.
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Would that not be considered a gift and be taxed exactly the same?Beachcomber wrote:
Given the current level of inheritance taxes it can be more expedient and less expensive to transfer your spouse's half of the property to yourself prior to his/her imminent death especially if you are unmarried partners.
Sid
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No, there is a procedure for transferring property from husband to wife which is only taxed at 1%. I'm not sure how it works between unmarried partners but even the costs of a normal sale would work out at less than the inheritance taxes between unrelated people.
I don't know if AEAT now accepts civil partnerships between M/F couples.
I don't know if AEAT now accepts civil partnerships between M/F couples.
- RichardCoeurdeLion
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