Inheritance and Legacies

Types of Wills in Spain: Common or Special

A will is a legal act in which the deceased or testator disposes of his or her property, rights, and obligations. According to the State, the modalities of wills may vary. In Spain, the Spanish Civil Code regulates wills, which creates differences between the common and special wills.

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The Inheritance Rights of the Widows in Spain

To ascertain the share of the inheritance allocated to the surviving spouse, it is crucial to establish the marital status at the time of the deceased’s death and whether it aligns with the inheritance rights of descendants or ancestors.

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Testament-diccionario

Inheritance or Donation in Spain?

In Spain, the highest tax rate for inheritance acquisitions is 32% for the portion of taxable income surpassing 800,000 Euros. Although the discussed bonus can mitigate the tax liability arising from hereditary acquisition, the taxation associated with inheritance might still exceed that stemming from a donation.

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How to execute a will in Spain

Articles 657 et seq. of the Spanish Civil Code regulate Inheritance Law in Spain. It governs the transfer of a deceased individual’s assets, rights, and obligations to the heir, either through a will or applicable provisions in the absence of one.

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Procedures to retrieve a heritage in Spain

To determine the assets of a deceased party in Spain, take the following steps: create an account on the Registry of Movable Assets website to access their registered assets, and check for company ownership and financial status through the Registry of Commerce using the same process.

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