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Inheritance tax

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Old Sep 22nd 2009 | 8:12 pm
  #16  
CLR
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Joined: May 2009
Posts: 235
From: Shetland/Granada Province and orginally the right side of the border.
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Default Re: Inheritance tax

Originally Posted by erisaman
It is so easy to become complacent when looking at IHT or rather, the tax known in Spain as ISD. Yes, some folk are able to become resident and thus gain certain benefits, others are 'holiday home' owners and, for a variety of reasons, cannot commit to becoming residents.

It is those folk who will be hardest hit by the ISD, in my case, or rather that of my wife, it would have amounted to several thousands of pounds, with the added disadvantage that she would not be able to dispose of the property until the tax was paid.

Okay, the situation was/is made worse in our case as we own two properties, exacerbated by the fact that one is shared 50/50 in joint names, but the other (the more valuable property) is 100% in my name.

Having had a heart attack - I am thankful I have been spared and am endeavouring to counteract the situation, seemingly becoming a Philadelphian Lawyer, or rather - an Andulcian Lawyer.

I've not yet settled on a solution, my legal advisor did not give me the advice I was seeking, so I will have to look elsewhere. If the OP wishes to PM me then I will bring her up to date with my discoveries thus far.
Thank you for this, yes residency is not an option for us - I will pm you at the weekend. Current thinking at the moment is my OH gets an insurance policy, I know with your health this is probably not an option. I trust you are in good health, and I hope you many years to come.
 

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