Pros and cons of being married in Spain (Inheritance etc)

Hi! Not sure of any pros or cons, but I highly recommend for the both of you to get a Spanish will, naming each other as heir of the entire estate. From what I understand Spanish law doesn’t automatically make the longest surviver heir even for married couples. And having no children of your own, that would make any living parents or siblings of the deceased first in line. Get that sorted soon after settling down here.

good luck,

Erik

@lindandcarl

my husband died 2 years ago and because we have no will it was very complicated so my best advice is make a will so you are all together protected

We understand the situation with wills thanks.

It is the financial benefits or downfalls when it comes to the time when one of us passes if we are not married.

We understand the situation with wills thanks.
It is the financial benefits or downfalls when it comes to the time when one of us passes if we are not married.
-@lindandcarl

If you don't have a Will, then it takes a long time to release money from the surviving partner. So that's a downfall.

Also thanks to Brexit you can not just move to the EU easily like you used to.

@lindandcarl  hello, when you move to Spain you can become Pareja de hecho, this is a legal document stating you live together. Speak with a lawyer as when you do your will you would grant each other uso fruto on the property. It is a very simple process.

Which part of Spain are you interested in?

Still quite open minded at this point. Looking at anywhere from Gandia down as far as Mojacar and inland as much as a 40 min drive from the coast...so a big area.

Thanks for the response but I dont think that helps when it comes to inheritance

My partner and I (both British) have been together 25 years and are looking to retire to Spain next year. We are not married currently and have no children.
We have tried to find any financial pros/cons to remaining as we are when it comes to inheritance etc when one of us eventually passes.
But so far have been unable to find any info....any help is appreciated
-@lindandcarl

Hello -

Inheritance taxes depends upon which autonomous region you are residents of.

I know that Andalusia has almost a zero inheritance tax, while other regions such as Valencia have inheritance taxes.

I have learned that spouses and immediate family get preference on deductions, but I’m afraid if you are not married, the survivor will pay the most if they are the beneficiary.  This is based on worldwide assets.

Some regions also have a wealth tax. I believe Andalusia and Madrid do not.

I'm not a tax attorney, and suggest that you contact one in Spain.

Thanks

All the information you need can be found here https://www.expatica.com/es/finance/taxes/inheritance-tax-in-spain-102092

Thanks