We are able to deal with Inheritance and Probate in either Spain or the United Kingdom. Probate is complicated in either country, contact us for more information. Don’t get caught out.

Probate:

Living and growing old together under the sun can be a wonderful prospect, however it is a fact of life that the day will arrive when you will have to deal with a probate.  Probates are always complicated, be they in Spain or in Enlgand, however in Spain the language barrier can cause a big problem.  Your lawyer will be able to guide you throught this process. 

For a Probate the follwing is needed:

 The Death Certificate.  The most important document.  This can be applied for from the Civil Registry of the deceased's place of residence.  With a copy of the death certificate you can apply to the “Registro de Ultimas Voluntades” (The Last Wills Registry) in Madrid, for a certificate stating if the deceased held a will in Spain at the time of death and in which Notary it is held.  (Having a will makes Probate so much easier, without one it can turn into a nightmare taking months or years to sort out).

A list of all assets (property, business, cars, boats, etc.) and the relevant documents to prove their existance and value.

Bank certificates for all bank accounts stating the funds held in the acounts at the time of death.

Documents for any debts (Mortagages, personal loans, etc.)

Any life insurance policies

Any bills for care during illness and the funeral costs can be deducted from the inheritance.

To ensure that you have all the correct documents, check with your lawyer.

All heirs must have an N.I.E number (see section on NIEs) and must come to Spain to accept the inheritance, this is done before a Notary Public.  The Notary charges for the the Ajudication and Acceptance of Inheritance Deed. 

The Inheritance Tax must be paid within six months of the date of death.  There are cases whereby the heirs have waited for four years for the payment period to expire, meaning that they paid no inheritance tax.  This practice is at best risky.  The payment period infact expires at 4 years and six months.   After the initial six months the surcharges are applicable starting at 5% and working its way up to 100%, which means that should the tax authorities claim the tax you may be liable for double the initial amount.

Inheritance Tax:

In 2007 the Inheritance Tax law changed in the Valencian Community (comprising of Alicante, Valencia and Castellón), whereby there is now a reduction of 40,000€ on the total amount of the inheritance, per person, unless your are lucky enough to be under twenty one years of age when their is a further reduction of  8,000€ for every year under the age of twenty one.  There are also further reductions for people with disabilities.

Should both the deceased and the heir be resident in the Valencian Community, on the reamining  amount after the initial allowance there is a further reduction of 99%, virtually eliminating the tax.