IPTW’s Wealth and Estate planning services are valuable to those with assets in Spain or looking to purchase assets in Spain, whether resident or not, and can protect assets within a legal framework, using tried and tested sensible planning and solutions.
Wealth enhancement and asset protection solutions are not just reserved for the very wealthy and IPTW’s solutions are designed to be cost effective and tax efficient, while serving the purpose of their design.
Strategies for wealth and passing that wealth onto future generations typically focus upon:
Those strategies require foresight and planning, they need to be in place before any threat, event or claim on your asset takes place and better still before an asset is purchased.
Asset Protection involves the legal removal of part or all of an individual’s wealth from harm’s way. These risk threats and risks may come from people, entities or institutions who want to claim, take or tax those assets in some way.
The approach to asset protection therefore involves identifying risks, consider events that can provoke those risks and they’re likelihood and impact if they do, and look at ways to protect an asset from those threats, prioritizing the most likely and the most expensive.
The typical threats that come to mind include, business creditors, ex-spouses, the ex-spouses of your children, unwanted inheritors, tax authorities, law suits and damage claims. The reality is that when you start thinking about it, there exists any number of people that could try to make you part company with your hard earned wealth and lots of perfectly legal circumstances whereby they can actually do it.
Tax is generally a starting point and while relatively fair taxes such as capital gain or income tax may be unavoidable there exist some taxes in Spain especially which unintentionally unfairly tax foreigners, these include succession tax and wealth tax. We take into account all potential risks to a families wealth, the direct and indirect family situation and the inheritance wishes of the ultimate owners who are often unaware of the forced inheritance rules that exist in Spain.
Our detailed PDF offers a full guide to Gift and Succession Tax, Wealth Tax, liabilities and responsibilities, deductions and exemptions. It also covers disabilities, successors, new introductions to law, rates, domiciles, Trusts, Foundations, Funds and other structures.
The IPTW senior team includes accredited Chartered Accountants (recognised in both England and Spain), and through our partnership with the Willwriters’ Association we can review current structure of assets held by resident and non-resident asset-owners in Spain, and offer bespoke solutions for sound planning, new asset purchases and existing (retro-fit) assets already held.
Complete the form if you are interested in personal tax returns: Tax Return (Declaracion de renta)
IPTW provide a safe pair of hands through our team of fully trained professionals to guide you through the complexities of preparing and formalizing a will for your overseas assets. A Spaniard, a national from another EU country or a national from a common law country (including UK, Ireland, USA, Australia, New Zealand, India and Canada) who owns overseas property in the European Union will all be treated differently when it comes to will preparation and the fulfillment of their inheritance wishes.
Our Bi-lingual will writing and tax professionals understand the complexities and conflicts of Common (English) and Civil Code (Spanish) law with over 20 years experience in dealing with Spanish notaries, court officials and legal processes.
That Bi-lateral understanding and thorough analysis of the Haigue and Brussel IV directives has lead IPTW to become acutely aware of the significant impact Brussels IV has on non resident property owners and the inadequacy of their current inheritance provisions and unfortunately often incorrect local advice.
A badly written Spanish Will most probably be invalid with Brussels IV and especially BREXIT, and an incorrectly prepared English will becomes practically un-executable. So now is the time to read our detailed Inheritance PDF and take advantage of our free Will review service.
IPTW’s Spanish Inheritance Review explains in detail Brussels IV and its impact upon expats and property owners in Spain. It simplifies your options to protect your inheritance wishes and safeguard your loved ones, with a step by step guide to the most appropriate solution for your particular circumstances or contact us to speak to an advisor.
Our detailed PDF offers a full guide to Gift and Succession Tax, Wealth Tax, liabilities and responsibilities, deductions and exemptions.
The IPTW senior team includes accredited Chartered Accountants (recognised in both England and Spain), and through our partnership with the Will writers’ Association we can review current structure of assets held by resident and non-resident asset-owners in Spain, and offer bespoke solutions for sound planning, new asset purchases and existing (retro-fit) assets already held.
