cross parfty life insurance and inheritance tax
Jan 21st 2008, 5:46 am
#16
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Joined: Aug 2007
Location: Los Martinez
Posts: 858
Re: cross parfty life insurance and inheritance tax
The alternative is to sell when you reach a certain age and then rent someplace. In this instance I am looking at covering the eventuallity of a sudden unexpected death.
Big bloke I'll pm you for details
Jan 21st 2008, 3:50 pm
#17
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Joined: Oct 2006
Location: Sunny Manchester
Posts: 3,831
Re: cross parfty life insurance and inheritance tax
This is obviously serious stuff - where can I read up on it - or can someone post a brief resume??
Jan 21st 2008, 4:59 pm
#18
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Joined: Jun 2005
Location: Puente Esuri
Posts: 6,906
Re: cross parfty life insurance and inheritance tax
As I understand the laws in Spain. Property can't be sold in order to pay inheritance tax.
One way round it is to see a specialist financial advisor based in Spain. I can personally recommend
the firm who usually have a full page ad advising on all tax/investment matters in most free English papers.
Depending on your wealth and circumstances they could be able to set you up with a trust fund in order to avoid paying Spanish inheritance tax altogether.
It may be classed as advertising if I were to mention them here by name, but if anyone would like their contact details to arrange a free consultation, send me a pm.
One way round it is to see a specialist financial advisor based in Spain. I can personally recommend
the firm who usually have a full page ad advising on all tax/investment matters in most free English papers.
Depending on your wealth and circumstances they could be able to set you up with a trust fund in order to avoid paying Spanish inheritance tax altogether.
It may be classed as advertising if I were to mention them here by name, but if anyone would like their contact details to arrange a free consultation, send me a pm.
Do I remember you posting that you were going for an initial free session with BF? It turned out well then?
I think my problem with that approach would be that I am asset rich but cash poor! No cashless would be a better description.
We have tried to arrange our ownership as IHT efficiently as possible but if say we last another 20yrs and the downturn has turned up by then our mature kids will still have to find something to placate the Hacienda and I do think there is some way of realising the asset to pay the tax but I don't know the ins and outs.
Of course IHT may have gone in Andalucia by then if all the rumours put about by solicitors and their ilk come true so it may be panic about nothing!
Regards,
John.
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Last edited by EsuriJohn; Jan 21st 2008 at 5:01 pm.
