spanish will/inheritance tax

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02 Mar 2007 12:00 AM by mariadecastro Star rating in Algeciras (Cadiz). 9419 posts Send private message

mariadecastro´s avatar

http://www.eyeonspain.com/spain-magazine/spanish-will.aspx

Convinient to have a spanish will.

Convinient to have spanish residency for some tax benefits. Take into account that legally, all your patrimony ( even the UK assets) will accrue the Inheritance taxes here in Spain, but the substantive  inheritance rules ( LAw) will always be the one of your nationality.

Art 6 of Inheritance Tax:

1.- TAx payers with residency in Spain will be obligued to pay the Inheritance tax in Spain, regardless  where the assets or rights are.

Best,

Maria

V


_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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26 Aug 2009 11:26 AM by Sunjoy Star rating. 2 posts Send private message

What happens if someone cannot pay inheritence tax.

I have a friend who has remarried. She has two children (from 1st marriage) and her husband has two from his 1st marriage. They have  a villa in joint names.

If her husband dies before her what happens to the property if his children(30 &32) are unable to pay the inheritence tax as they have no savings nor any way of getting any money.

 





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