Wills

Inheritance tax   is strange  in Spain. When  1  member  of  a  Marriage/ Partnership  dies  the person  who  Inheritance  Property   is  liable  for Inheritance tax  and no  allowance  if  you are a non Resident.  But  recently  it has changed  in Valencia  region. Inheritance tax is  Abolished  but not read up  on fine  details  yet. 

Oh really we are resident for 7 years so maybe we'd be ok

Check   it  out. Their  is  a lot of Taxes  in  Spain. No  estate agent  will  tell you  about  but in  fairness  probably  not  aware of them

Hi Millies123,

If you own property in Spain, you should have Spanish Wills drawn up irrespective of whether the property is in joint names.  When a joint owner dies in Spain, the surviving spouse needs to inherit the other 50%.  In your case, your husband would need to inherit the property in full, i.e. 100%, if he survives you.  If you survive him, you will not need to inherit.  

In any event, as Sligogent has advised, the Comunidad Valenciana regional government abolished Inheritance Tax this year, so it's not currently an issue.  But that's not to say a change of regional government couldn't see it reinstated, so make it a priority to get your Spanish Wills sorted, and have them written with the Law of England & Wales (or those of your country of origin) prevailing, as Spanish inheritance law prioritises children over the spouse.

Kind regards,

Kim 

Inheritance tax is still levied at a nominal 1% on the residue of the estate after all allowances have been applied. You can always add a name to the Deeds. Get proper legal advice from somebody like Paul at Thy Will Be Done in Benijofar  https://thywill.es/

Bee

Not  many  allowance   for  non  Resident. But   permanent  Residents   a  lot  different. 

The 99% allowance on inheritance tax in the Valencia Region applies to residents and non residents equally and regardless of whether EU or non EU citizen.

The 1% is a bit of a misnomer. They can't abolish the tax as it is a national law but they can impose a higher level so opted for 99%.

Hello,

I need to prepare a new will over the festive break. 

Can anyone recommend a company that specialises in English wills?

Hi Jenny,

I haven't used this company personally, but Paul at Thy Will Be Done has received recommendations on CBF's sister forum, TalkQuesada:

https://thywill.es/

Kind regards, 

Kim