Inheritance matters can be difficult to deal with in your own country and language. So try and imagine having to deal with it all in Spain, in a foreign language?
Fortunately, you don’t have to, as the experts at Sun Lawyers are on hand to deal with all inheritance matters for you.
The Will
The first step is to establish whether there a Spanish Will in place. If not, then UK probate will have to be obtained. Whether there is a Spanish Will in place or not, Spanish probate also needs to be applied for and the Death Certificate is needed to be able to apply for this to Madrid.
Any document from UK, be it the Death Certificate or UK Probate, will need the Apostille stamp from the Foreign Office and will need to be officially translated into Spanish for the authorities here. This makes the process far more drawn out and can be significantly more expensive for the inheritors. That is why a Will in Spain for Spanish assets makes everything simpler, quicker and easier. Watch our explainer video about Making a Spanish Will
NIE Number
The inheritor/s must have an NIE number (Foreigners Identification number) to be able to inherit assets in Spain. Sun Lawyers can apply for NIE numbers on your behalf. It may also be sensible to arrange Power of Attorney.
Where the inheritance takes place
Whatever the assets to be inherited are e.g., property, bank account/s, vehicles etc., the inheritance is carried out at a notary office. Once the notary has all the necessary and correct documentation, (s)/he will draw up the inheritance deed to include each and every one of the Spanish assets.
Inheritance Tax
The amount of inheritance tax due, will be dependant on the region in Spain in which the assets are situated. For example, in the Valencian Community there is a threshold of €100.000 for spouses and children. This means that the first €100,000 is tax free, there are also reductions for the remaining taxable amount.
The tax forms and the payment must be submitted within six months of the date of death.
NOTE: In January 2024, the inheritance rules are expected to change and a in way that favours the inheritor(s). Once the detail is known early next year we will provide an update.
Registering the inheritance
The final step is to register the new Deed of Inheritance at the Land Registry office. The Deed and the tax forms are presented to the Land Registry office where the property is situated and the new title to the property is written.
Bank accounts
Where bank accounts are concerned, you may find that the bank had frozen the account of the deceased. In this case the bank will need to send the Inheritance Deed & tax forms to their own legal department. Once the documentation has been processed, the bank will then unblock the account.
Next Steps
However, you won’t need to worry about any of this with Sun Lawyers on your side. We are probate specialists in Spain and we can take care of everything so you don’t have to. Just email us and on our team will get in touch