My wife and I own a property in spain Approx value E 130,000. We live in Ireland.
We have 3 sons one in Canada and 2 in England.We would like to arrange if either one of us die the property transfers to the other and if we both die the property transfers equally between our sons.
We know of one method via a Ltd Company ownership. Is this the best method and if so could you let me have costings of same or if you have any other suggestions please advise with costings. Sent on the 1st November 2010 @ 12:47 p.m.
REPLIED on the 2nd November 2010 @ 9:19 a.m.: Answering to your question, please, be kindly invited to visit our study made in the different ways to reduce/avoid Spanish IHT, clicking below: http://www.spanishsolicitors.com/ways-to-avoid-or-reduce-spanish-inheritance-tax-analysis-of-the-different-ways/
As you can see, creating a company is not the best option, because expenses can be high. In my opinion, and taking into account that the only property you have is a Spanish one, for a value of 130.000 EUR, the way I recommend you to organize this inheritance will be simply making Spanish Wills from you and your wife, passing the ownership one each other (mirror Wills), and, if both of you die in the same time, to your sons. Let us know if you decide to proceed in this way, and we will contact you to give you a personalize study.
Thanking you again for your trust in our company and service. Please, do not hesitate to contact us for further explanations and help in this matter.
Kind Regards. TLACorp – LAWYERS