If you own a property in Spain and have other assets in Spain it is an expensive and slow procedure to have your UK will recognised in Spain. If you die without leaving a Will, then under Spanish Law all assets will be applied under Spanish Law. This differs from country to country and it may be more beneficial to have your assets dealt with under the laws of your Nationality (i.e UK). For someone who has property and other assets in the UK this may be beneficial to you (but really important to obtain professional advice first before any changes are made).
Types of Spanish Wills
This is the normal will most people in Spain adopt. It has to be made before a Notary who keeps the original document and sends notification of the Will to the Central Registry in Madrid. The client is given a copy.
This type of will is handwritten. It must be signed and dated on each page by the Testator and then verified before a judge. The Deceased’s closest relatives must verify the deceased’s handwriting and afterwards a Judge will enforce the provisions of the Will
With a Closed Will all details of the Will are kept secret by sealing them in an Envelope. The Testator declares before a Notary that the will has been declared by the Testator and sealed in the envelope. Confirmation of whether it has been written by a 3rd party or the Testator and who has signed it. This is then filed by the Notary and is registered with the Central Registry of Spanish Wills.
Depending upon which will you choose and whom you use, costs are as low as 40 euros to over 500 euros. A simple Open Will can be declared in a local Notary office at a cost of 40 euros per will.
Liberty Funeral Plans: Cover for a funeral plan with Liberty can be as low as 10 euros a month (depending upon where you live in Spain) and includes a Will (all costs borne by Liberty – plus Notary Costs). If you haven’t thought about a Funeral Plan yet, it can also sort out your Spanish Will too!
LIFE INSURANCE AND HOW TO MINIMISE INHERITANCE TAX ISSUES
Inheritance Tax is an issue which leaves us very confused, but if we own property and assets whether in Spain and/or in the UK professional advice should be sought to minimise the financial damage it can cause to those left behind. One of the way to minimise IHT is to take out a life insurance policy so that in the event of death the proceeds of a life insurance policy can be paid out and used to settle an Inheritance Tax bill.
Even to have some cover in the event of such a tragedy is important. Life Insurance in Spain has been seen to be expensive but for 150 euros a year for Death and Disability cover the following benefits are available:-
COST 150 EUROS A YEAR
(CAN BE PAID MONTHLY) DEATH & DISABILITY COVER
Age 30: cover of 156,320 euros
Age 40: cover of 85,079 euros
Age 50: cover of 33,757 euros
Age 60: cover of 14,124 euros
Age 70: cover of 11,327 euros
For policies with cover up to 60,000 euros, the underwriting process is a very simple questionnaire with only 3 questions, hence the underwriting process is very fast and straightforward.
If you require a personal quote do let us know.
INHERITANCE TAX – ANDALUCIA IS BECOMING A LOW TAX REGION
ON 11 April 2019 there was a big change on inheritance and gift tax in the Andalucia region of Spain. Inheritances and gifts between spouses, parents and children will now have a 99% reduction of the total tax payable.
The previous 1m deduction per beneficiary also remains so that most taxpayers will not pay any tax at all.
For detailed information about the Andalucian tax laws please go onto www.spenceclarke.com. Well worth a read. They also have lots of information on other tax issues, general income tax, Capital Gains etc. Everything is in English on their website. They post really useful updates too on a regular basis so a helpful and reliable source of information for clients and businesses alike.
UPDATE ON NEWS FROM ENERGY NORDIC – EXPANSION INTO BALEARIC ISLANDS
Want to save money on electricity bills, try Energy Nordic, they have now expanded into the Balearic Islands as well as the whole of mainland Spain, their growth over the last year has been huge due to their competitive rates, ease of change of supplier and customer service. Everything in English too.
Want to see if you can save some money on your electric bills? Send us your latest bill with contact details and we will ask the question for you, no obligation to change. Its not often we find a genuine supplier able to save us money on a service we cannot do without. Simple changeover and no tie in period of contract. Lots of happy customers with lower bills!
CALL EUINSURANCE DIRECT ON 952830843/951080118 OR MOBILE 635592610
SPEAK TO WENDY OR ASHLEY OR EMAIL
Come and join us for our Annual Charity Dinner, this year in aid of a very worthwhile charity Knitted Knockers www.kkscostadelsol.org Tickets are available now and must be pre-paid before the event. Sai Indian Restaurant have very kindly given us the restaurant exclusively for the evening which will be a fantastic night of food, drink, music and entertainment, rounded off by a great charity raffle. If you would like to attend or donate a raffle prize please contact us at email@example.com or call on 0034 608 69 10 47
For all your insurances under one roof in English offering the cheapest quotes on the coast with the most competitive and friendly service!! Renewal due? Give us a call!!!
Life cover – Bank life cover
We have received several calls this month from clients looking to change their life insurance, currently with their Bank and paying extortionate rates. If you have a renewal due that is with another company or through your bank let us quote to see if we can reduce your premiums. In some cases we have managed to save clients 100s of euros per year!
Cashback Campaign– till mid December only
We still have our Cashback campaign running till 20th December for existing clients and new clients offering 40/60 euros cashback for any NEW policy for car or home taken out with Liberty with a start date of 20th December or before. Premiums for car insurance has to be over 400 euros and home insurance over 200 euros a year and must be paid by direct debit through your Bank. If you have a second car coming up for renewal with another company or want to change your home insurance to Liberty, then you would qualify for the cashback! (Not for replacements or renewals)
Pensions for Ex-Pats living in Spain and Brexit
There has been an agreement for all British pensioners who live in the EU will continue to see their state pension payments increased each year after Brexit, the Government has indicated.
There had been fears that millions of expats who live in Europe would see their pensions “frozen”, meaning their value would be steadily eroded over time. This is the situation in countries such as Canada, Australia and New Zealand, where British state pension payments to expats are not increased each year in line with inflation.
But an official update, published quietly last month, confirms that the British government intends to continue increasing state pensions to expats in the EU after the UK leaves the EU in 2019. The update showed that Britain and the EU had the same position on annual increases: that they would continue to be made as now after Brexit. (The Telegraph 13 Sept.)
Brexit healthcare deal is ‘good news for pensioners’
Brexit negotiators have agreed to maintain reciprocal healthcare for British and EU retirees affected by Brexit
The deal applies to British retirees living in other EU countries, and people from those states who have retired in the UK. British pensioners who have retired to other EU countries will continue to have their healthcare paid for by the NHS post-Brexit, after a deal in principle was agreed by negotiators in Brussels.
In one of the few advances made in discussions about EU citizens’ future rights, the Brexit secretary, David Davis, said there had been agreement on four key areas, including reciprocal healthcare for British and EU retirees affected by Brexit.
“This is good news for British pensioners in the EU,” he said.
Other areas of agreement included protection for “frontier workers”, those who live in one EU member state and work in another. This would include people who live in the UK and commute to Europe, or Britons settled in one country, for example Germany, who commute to work in another, say Luxembourg. (The Telegraph 13 Sept)
Christmas Dinner Spain – v – Christmas Dinner UK
Wherever we are in the world Christmas is celebrated with family and friends (hopefully) and an abundance of food and possibly the odd tipple…. If you are in Spain for Christmas there are certain different foods on the menu…
In the UK our traditional Christmas menu consists of Turkey and cranberry sauce or Chicken or other roasted meats with roast potatoes, 2 veg, gravy and Christmas Pudding or Mince pies…
In Spain, Christmas Eve is called La Noche Buena or The Good Night and is celebrated with a large family feast that is eaten late in the evening and lasts a couple hours. It is more important to Spaniards than Christmas Day. Spaniards exchange their Christmas Gifts 13 days after Christmas on January 6th and there is more celebrations then too with a cake made to resemble a King’s crown.
The popular dishes for a Spanish Christmas include cold meats, soft Goats cheese and Manchego, Pate and crackers and various types of sausages. Seafood and Seafood soups are popular with boiled shrimps as classic examples eaten with warm crusty bread. Homemade Cheese puffs are also popular.
Main course is generally traditionally Turkey but it is normally stuffed with a mixture of nuts, dried fruit and grated cheese. This could also be accompanied by roast lamb or pork too. Salad is also served in many different varieties.
Sweets or Puddings?
Chololate sponge cake rolled in a log with fondant and cream is popular and almond based sweets. Orange Olive oil cake is also a popular sweet addition at Christmas.
All washed down with sherry or beer!
However you intend to celebrate Christmas, eat , drink and be merry!!
For all your insurance needs in Plain English call us:-
Work from home for a successful multi-national company as a Customer Services Agent. You will be dealing with inbound calls only, assisting clients and handling their enquiries.
You will need to be completely fluent (spoken and written) in both English and German or English and French, with Spanish an additional benefit but not mandatory. If you live in and around the Malaga province this is a great opportunity to work from home for a stable international business together with all the benefits of a full time contract.
Multiple positions available but be quick as this is a great opportunity for the right candidates.
Email your CV today to firstname.lastname@example.org
Business Development Manager
T: 951 400 234
T: 671 825 194
Ruth Forder, Business 1st member, La Cala was running at the London marathon – her time was 4.55, she secured her place, with her running mate, Andrew Barton for Prince’s Trust. Well done Ruth from all of us at Business 1st!!!
Money is still coming in so if you would like to support please go to Virginmoneygiving/ Ruth Forder
Think about your eyes on World Health Day
Specsavers Opticas on the Costa del Sol are offering free eye tests including a visual health check throughout April for World Health Day.
The stores in Marbella and Fuengirola are offering the service for free to raise awareness about the different medical conditions which may be detected using optical equipment and to make people think of an eye test as an important health check, not simply as a test to see whether you need glasses.
Amrik Sappal, Director of Specsavers Opticas in Fuengirola says: ‘The equipment we use is now very advanced and doesn’t just test people’s vision, it’s an eye health check too. We do specific checks for things like cataracts, glaucoma and macular degeneration and can now photograph the back of the eye using a digital retinal camera, which combines a specialist microscope and camera. This enables us to detect the signs of a range of important health conditions before they become serious.” If necessary, the optician can refer patients directly for further medical examination to their hospital or general practitioner.
Recent research undertaken by Specsavers revealed that millions of people are risking losing their sight unnecessarily because they fail to have regular sight tests and make poor life style choices. Almost half of all sight loss cases are preventable – and a simple eye test can be the first step in prevention.
“Take a step to safeguard your health and eye sight and book a free eye test this World Health Day!” adds Mr Sappal from Specsavers Opticas Fuengirola.
All Specsavers Opticas stores in Spain now offer digital retinal photography as part of their complete eye examination. Visual health checks with digital retinal photography are usually 15€, but are free throughout April.
To find your nearest Specsavers Opticas and book a free eye test visit www.specsavers.es