There are four different groups for the innovation of percentages of reduction for kinship in acquisitions made as a result of death. It also offers different percentages of reduction for tax liability and the reduction for the acquisitions of goods and rights.
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.
The concept of donation is regulated by Articles 618 et seq. of the Spanish Civil Code (Cc) and it defines itself as an act of liberality under which one person …
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.
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.
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.
On September 11, 2013, the Spanish Supreme Court issued a ruling that upheld the doctrine on provisions of Article 1006 of the Spanish Civil Code. This Article provides that the …
This article aims to explain the essential elements of jurisdiction and the law applicable to inheritance disputes. This article does not constitute legal advice. Rather, it is simply a brief …
Foreigners who intend to inherit assets in Spain should know that succession laws tend to be different from country to country. Primarily, one needs to take into account that in …
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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