![]() |
|
|
|
|||||||
| Legal & Financial This is the forum for all your legal and financial questions. |
|
|
LinkBack | Thread Tools | Display Modes |
|
|
#11 (permalink) |
|
CDThader
is back on board
Contributing Member
![]() Join Date: Dec 2008
Location: I live in Ciudad Quesada, an Urbanisation of Rojales, Alicante
Age: 68
Posts: 796
Thanks: 28
Thanked 51 Times in 50 Posts
Rep Power: 28 |
CD |
|
|
|
|
|
#12 (permalink) |
|
jawg
is....
Spain Expert
Join Date: Oct 2008
Location: Ottawa, Ontario, Canada
Age: 73
Posts: 215
Thanks: 13
Thanked 16 Times in 12 Posts
Rep Power: 25 |
I don't know Spanish law, but here in Canada, one of the main reasons for a joint account is to eliminate the possibility of the account being frozen. The account passes smoothly to the survivor.
|
|
|
|
|
|
#13 (permalink) | |
|
CDThader
is back on board
Contributing Member
![]() Join Date: Dec 2008
Location: I live in Ciudad Quesada, an Urbanisation of Rojales, Alicante
Age: 68
Posts: 796
Thanks: 28
Thanked 51 Times in 50 Posts
Rep Power: 28 |
Quote:
CD |
|
|
|
|
|
|
#14 (permalink) |
|
Playamonte
is....
Spain Expert
Join Date: Dec 2008
Location: Valencia area
Posts: 389
Thanks: 1
Thanked 39 Times in 37 Posts
Rep Power: 24 |
I heard this about a partner not being able to access a joint account in the event of the others death, so I asked our local Gestor who looked quite puzzled when I asked him if this was so ?
He smiled and said of course not ! (tis what he said) Brian |
|
|
|
|
|
#15 (permalink) | |
|
El Gordo
is trying to find his way around!
Regular Member
Join Date: May 2009
Location: Communidad Valenciana
Posts: 14
Thanks: 0
Thanked 2 Times in 2 Posts
Rep Power: 0 |
Quote:
i have known this happen to several people recently. |
|
|
|
|
|
|
#16 (permalink) |
|
JazminesII
is well actually has found lots of familiar folks
;-))
Spain Guru
Join Date: Oct 2008
Location: Costa Cálida (Hot Coast) ;-)) and UK (;-
Posts: 1,406
Thanks: 55
Thanked 94 Times in 93 Posts
Rep Power: 38 |
I think the point in the locals don't always inform.....that is probably how they avoid certain things albeit illegally ;-))
|
|
|
|
|
|
#18 (permalink) |
|
DJinSpain
is networking, social and business
Regular Member
Join Date: Feb 2009
Posts: 9
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0 |
The discussion has moved away from the original post.
Inheritance tax in the UK and ISD in Spain are very different and the lesson of my blog was a sharp and expensive one for the widow involved. Financial Pages in Spain: Expats and property owners in Spain - Your need real professional advice. DJ |
|
|
|
|
|
#19 (permalink) |
|
hippyshake
is....
Regular Member
Join Date: Oct 2008
Location: Costa Azahar
Posts: 74
Thanks: 0
Thanked 5 Times in 5 Posts
Rep Power: 23 |
The law changed this year on inheritance tax on immediate family members. I can't remember the details but I think the spouse no longer has to pay or only has to pay a very small amount.
The inheritance tax on a property only has to be paid if you are planning to sell the property and only after the deed of inheritance has been signed. If you don't sign the deed, there's no tax demand. This is how Spanish people get away with it and why so many houses end up being owned by multiple family members! My cousins are in this situation at the moment. Their mother died but as they haven't been able to sell the house (over 3 years now), their lawyer advised them to hold on to it as after 4 years you don't have to pay any inheritance tax. He also told them, at the time of my aunt's death, not to sign the deed of inheritance until they actually had a sale as you have to pay the tax once this has been done (though not after the 4 years). The change in the law came too late for them but I think now they wouldn't have to pay at all as it was their mother who died. |
|
|
|
|
|
#20 (permalink) |
|
DJinSpain
is networking, social and business
Regular Member
Join Date: Feb 2009
Posts: 9
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0 |
Useful contribution Hippyshake. The ISD rules are often applied differently in the autonomous regions. Generally, any favourable treatment only applies to Spanish residents. In my example the widow was UK resident with a second home in Spain.
The good thing about your example is that it re-iterates my main point that you need professional advice. Speaking to a man in a pub will not do! Thanks. |
|
|
|
| Bookmarks |
| Tags |
| financial advice, inheritance tax, spain, tax |
| Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
| Thread Tools | |
| Display Modes | |
|
|
|
|
||||
| Thread | Thread Starter | Forum | Replies | Last Post |
| Spanish Inheritance Tax | CDThader | General Discussion | 18 | 26-07-2009 12:42 |
| How To Safeguard Against Spanish Inheritance Tax | w.c.d. | Spanish Property Forum | 7 | 26-07-2009 10:06 |
| NEW!! Expert Investment Adviser - Must read articles and case studies | Robert Adviser | Introductions | 0 | 12-05-2009 09:19 |
| Anyone read the 14 page special in The Economist? | greg | Current Affairs | 8 | 10-11-2008 12:51 |