Inheritance tax

Will60 wrote on Fri Jun 19, 2020 1:27pm:

It is cheap to get married ....

Bee64 wrote on Fri Jun 19, 2020 10:08am:

Good morning everyone, we are the process of buying a property on la Torre 

With regards to inheritance tax I have researched what it means but as I am not a legal professional a lot of it is quite confusing my question is

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My partner and I arnt married , buying the property in both names, if one of us dies does the remaining partner pay inheritance tax?

Even though we have been together for 22 years ,the sons I have are not my partner’s biologically  If we both die then the property would go to them

On the graphs on tax websites the percentages and sums are very confusing.

So let’s say the property is worth 170000 euros , does anyone know roughly in monitary terms what the amount of inheritance tax would be,,, sorry if this is long winded 🙄

TIA

Gem wrote on Fri Jun 19, 2020 5:53pm:

Sorry Bee, but no one on this forum can possibly answer your question.

I'm not even sure some of the 'so called' tax experts would give you the correct steer. I would suggest you request that a recommendation for tax planners/advisors on usage/experience.

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Probably not the answer you were looking for, but 'real' advice!

Regards

Gem wrote on Fri Jun 19, 2020 5:53pm:

Sorry Bee, but no one on this forum can possibly answer your question.

I'm not even sure some of the 'so called' tax experts would give you the correct steer. I would suggest you request that a recommendation for tax planners/advisors on usage/experience.

Read more...

Probably not the answer you were looking for, but 'real' advice!

Regards

PhilTox wrote on Fri Jun 19, 2020 6:04pm:

Absolutely agree, far too many responses from people whose information is out of date, wrong or from "Dave down the pub".

Talk to the professionals, we have just had our first residents annual tax returns done for us, 7 pages of check boxes on the form, no way we would have got it right for ourselves as our Spanish,as yet, is still very limited....

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crissywissy wrote on Sat Jun 20, 2020 9:07am:

Go and see Gloria Quintana at QML in the 525 square in Los Alcazares. We were advised to get married too it would make things far less complicated for whoevervis left behind!.......but at least you should have Spanish wills made for both of you...QML will do that too....

At the moment in Murcia inheritance tax is only 1% of the value ...but its obviously more complicated than that!! ...

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