Wills and Probate Lawyers Madrid

We offer services of Wills and Probate in Madrid. We are professional lawyers and we always advise our clients who own properties in Spain to grant a Spanish will before a public notary, so that they can ensure that everything is duly organized and controlled by the time of their inheritance process.

By granting the will, the probate process is not only cheaper and quicker than when a will has not been granted, but also, with the granting of the Spanish will you can ensure that your estate is distributed in the most tax-efficient way..

In the probate process, heirs will be charged with inheritance tax according to the value of the assets they inherit. In order to calculate the amount of inheritance tax due, the degree of kinship will also be relevant, as will the previous patrimony of the heir.

The inheritance tax rate goes from 7.65% to 36.5% of the value of the assets inherited; the more value the inherited assets have, the more taxes are due. Bearing in mind the above, it is essential to plan accordingly to ensure the Spanish will is granted in the most tax-efficient way, reducing taxation as much as possible, or even avoiding the payment of inheritance tax, when possible.

Depending on your case, Alejandro Law Firm Solicitors in Madrid ,after considering and studying in detail the different alternatives you have, will advise you on the best way to grant your will. For more information, please contact us.

PRACTICE AREAS

The Probate Process

As explained above, the probate process in Spain is much easier and cheaper when a Spanish will has been granted. In the event there is not a Spanish will in place, the heirs will have to go through a probate process in the country of origin of their late relative so that they can complete the inheritance process in Spain and prove before the Spanish authorities they are entitled to inherit the Spanish estate of that person. Documents required to complete the probate process in Spain:

Death certificate

Duly stamped with The Hague Apostille, and translated to Spanish

Documents related to the Inherited Assets

Copy of the title deeds, bank certificates, etc.

Original will

This document is held by the notary who legalized the will granted by the testator.

In case of real estate assets, the last council tax (IBI tax) of the properties

This is required to calculate the tax value of these assets.

Certificate from the Spanish Wills Registry

“Registro de Últimas Voluntades”

Certificate from the Spanish Insurance Registry

–

NIE

NIE number of the parties involved.

Power of attorney

Granted before a public notary, if the heirs are assisted in the process by a solicitor.

Once the above documents are in place, it will be necessary to appear before a Spanish public notary and grant the probate deeds. The next step after that will be the payment of the inheritance tax (and the Plusvalía tax in the case of real estate property).

From that moment, the heirs will be able to claim funds held in Spanish bank accounts and also register the probate deeds at the land registry in the case of real estate assets. At that moment, the inheritance process will be complete.

If you are in the process of inheriting assets in Spain and need expert assistance to complete the process, please do not hesitate to contact Alejandro Law Firm.