When a family member passes away leaving assets in Spain, you must face several procedures. These legal and tax steps can be complex due to international regulations. However, you should not worry. At Orihuela Solicitors, we are here to offer you our professional advice.
In the first place, we must consider what law applies in Spain. Well, Regulation (EU) 650/2012 is the key rule. In fact, it indicates that the inheritance in Spain of a foreign person is governed by the law of their habitual residence.
If they resided in Spain, their inheritance will follow Spanish law by default. Nevertheless, this changes if they specified their country of origin’s law in their will. For example, a British citizen living in Spain who dies without a will follows Spanish law. On the contrary, if the will chose British law, that regulation will determine the distribution.
First of all, we must check if the deceased person signed a will in Spain. To do this, we use a unique registry in our country. You must present the original death certificate and identification document. Moreover, the death certificate must be an original copy. If the person died abroad, it must be translated and apostilled.
In the event that no will exists in Spain, you must obtain one from their country. If there is no will at all, an act of declaration of heirs is required. Actually, this is an official document that identifies the legal heirs. Therefore, signing a will simplifies and enormously cheapens the inheritance procedures.
Another very important document is the original death certificate. If the document is from outside Spain, it must be translated and apostilled with the Hague stamp. Furthermore, all heirs must have a Foreigner Identification Number (NIE). Orihuela Solicitors can request it quickly and easily.
Once we identify the heirs and the assets, we will go to the Notary. Subsequently, we will sign the deed of acceptance and adjudication of inheritance. Later, we will prepare the Inheritance Tax. The heirs have a period of 6 months for its payment.
The tax amount depends on the Spanish region where the assets are located. For instance, in the Valencian Community, there is a limit of €100,000 for spouses and children. This means the first €100,000 are tax-exempt.
During the process, the bank will block the deceased’s accounts. In fact, they will be reactivated only after presenting the deed and the tax proof. Finally, with our team, you will not have to worry. We are specialists and can manage your inheritance in Spain for you.
