Owner Services - Estate Planning When Buying Abroad

Thinking of moving to Spanish territory or just buying a property for holidays or renting out?

David Wilson Associates offer a one-stop service with expertise on:

Relocation and Property Advice
Including where to buy and how to buy, legal and fiscal requirements, procedural requirements such as searches. Estate Agents just want to sell property; they are not required to give you all the information to make your purchase trouble free.

Spanish and British tax regulations
Your adviser should know both countries' regulations to give you the best advice.

Moving Capital
Where is it best to keep your assets? Where should you have your pensions paid? Where do you pay tax?

Offshore Facilities
These can be profitable to the British non-resident however it depends on what is legal and remember the recent exchange of information act!

Inheritance tax (IHT)
How do you legally protect your beneficiaries from IHT in both countries, your Spanish property will be subject to the Spanish laws of inheritance which are more severe than the British.

Wills
If you do not have a will anywhere, when you die you are intestate. This means that your possessions will be disposed of in accordance with the intestacy laws. In Spain and even in the UK intestacy laws usually favour the children rather than your spouse. Is this what you want to happen to your estate?

Does your British Will do what you want it to?
You should review your Will regularly. Avoiding care home costs and IHT are all possible and even controlling from beyond the grave by way of trusts is affordable to everyone in these times. Apart from being able to prepare your Will cheaply we can ensure its content does not contradict with the disposal of assets in other countries.

Enduring powers of Attorney
Who will look after your affairs if you are unable to do so? The law will dictate to you who will do this and you will have to pay the Court of Protection for the privilege but with this simple document you remain in charge. Everyone should have one.

Children, grandchildren and disabled person's trust
Again with advice you can set up a trust to protect your loved one's inheritance.

Spanish Will
What should it include and why do you need one? Under international law fixed assets i.e. property are dealt with in the country where they are situated. If you rely solely on a UK Will the disposal of your assets will be significantly delayed and costly requiring official translation and to be apostiled by the Foreign and Commonwealth Office. The Spanish have strict forced heirship rules but allow foreigners to draw up their Spanish Will in accordance with the laws of their own country. A Spanish Will can also help to alleviate the crippling IHT in Spain. Be aware that changes to circumstances such as marriage, remarriage or divorce can cause the Will to become invalid therefore leaving you intestate.
Intestacy rules in Spain are very fierce. The surviving spouse would be left with only a third lifetime interest in the estate and no entitlement to capital. Your children or if you do not have any, other relatives receive the balance.

Relocating
Make it as simple as possible -think before you act. Get advice before you go. Who do you inform?
What are you entitled to from the UK or in your new country?
Do you receive benefits or is your health a concern?
Do you understand the difference between domicile and non-resident status?

We have answers, and if we do not, we know where to get them from as we are qualified in British tax, Spanish tax and UK trusts. We are associated with lawyers, accountants and financial advisors in Spain, UK, Ireland and Offshore.

All advice given is totally INDEPENDENT and CONFIDENTIAL.

We do not sell anything other than our expertise, at prices you can afford.

The first step is to pick up the telephone and contact 020 8331 2716 or e-mail us. We can arrange a 2-hour overview appointment.
THE COST IS ONLY £50 OR Eu75

TO GET PEACE OF MIND IS PRICELESS AND THE POTENTIAL FINANCIAL SAVINGS ARE IMMEASURABLE

We travel through out the UK, Spain including the Canaries, also Ireland by appointment.