– A+B, British, 62 years old each, and Spanish residents, own a Spanish property. They have 2 sons. Sons are not Spanish residents.
– Both have made a “mirror Will” (A leaves everything to B, and vice versa), and if they died together they leave to both Sons “SON 1” and “SON 2” in equal parts.
Please, note that what we have considered in this topic is exclusively for Inheritance Tax calculations. On top of the inheritance tax there will be other expenses related as:
- Searches of Spanish assets, testaments, probates, etc.
- Legalisation and translation of official documents
- Obtaining NIE number from all the inheritors
- Notary and land registry fees
- Solicitor fees
- Valuation and surveys on property assets
- Updating deeds and council tax for eventual construction and extensions done at the property
- Changing of names of utility contracts and council tax
- Renovation of Certificate of Habitation
- Local Plusvalia tax
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