Extract from ETERNAL STORIES FOR LEARNING TO LEARN by José María Doria. A selection of stories of multiple cultural roots, which form the Ethical Heritage of Humanity.

One day a troubled young man appeared before an old man who had the reputation being wise man, who hastily told him:

“Teacher, I am desperate, I feel so miserable that I lack the strength to do anything. I think that I don´t serve for anything and that my life is a failure. Actually, nobody listens to me nor appreciates the good intention of my words. I have been told that your remedies and teachings are very special. I am willing to serve you in whatever you need, but please guide me to the solution of my problem. What I can do?”

The old man, hardly looking at him, said:

“How sorry I am, young man, but I cannot help you because I must solve my own problem first. Maybe later … “ Pausing, he added, “If you want to help me, I could solve my problem quicker and then, maybe I could help you.”

“Agreed Master,” replied the young man with a ray of hope: “What can I do for you?” 

The Master took off the ring he had on the little finger of his left hand handed it to the youth and said:

“This ring must be sold to pay a debt. Go to the market and try to get the highest possible amount, but do not accept less than one gold coin. Go as soon as possible and come back with that coin as fast as you can!”

The young man took the ring and when he reached the market, he began to offer it to the people who at first were interested, until the young man asked for a gold coin, when they lost interest. Some laughed, others turned away. Only an old man was so kind as to take the trouble to explain that a gold coin was too much for that ring. In an effort to help, someone offered him a silver coin and a copper pot, but since the young man was instructed not to accept less than one gold coin, he rejected the offer.

After offering his jewel to every person who crossed the market and feeling dejected by his failure, he returned to the wise man´s house, saying to himself: “If I had a gold coin, I would give it right to the old man. “

He entered the room and said:

“Master, I’m sorry, it’s not possible to get what you asked for. Maybe I could get two or three silver coins, but I do not think I can fool anyone about the true value of the ring.”

“What you said is so important, young friend” -the teacher replied smiling-. “We ought first to know the true value of the ring. Go back to the market and go to the jeweler. Who better than him to know it? Tell him you want to sell the ring and ask him how much he gives for it. But whatever he offers you, do not sell it. Come back with my ring“.

The young man ran to a jeweler, who examined the ring by the light of a lamp, looked at it with his magnifying glass, weighed it and then said:

“Young man, tell the Master that if he wants to sell it now, I cannot give him more than 58 gold coins for his ring.”

“¡¡¡¡58 coins ???!!!” exclaimed the young man. “Yes,” replied the jeweler, “I know that with time we could get about 70 coins but if the sale is urgent …”.

The young man ran excitedly to the Master’s house to tell him what happened.

“Sit down” -he said after listening-.”You are like this ring: A jewel, unique and valuable. And as such, only you can consider yourself to be a true expert.” And saying this, he put the ring back on the little finger of his left hand.

The young man left the house smiling, while deep down he said to himself: “What are you doing, going through life letting anyone else discover your true value”?

Madrid is one of the large cities with the greatest increase in apartments for tourists. Here are the key characteristics of this social phenomenon and a practical detailed guide of the steps required to initiate the business of apartment rentals for tourists in compliance with the legal dispositions in the Autonomous Community of Madrid.

A phenomenon which is gaining growing interest is apartments for touristic use. Nowadays touristic activity represents 7.7% of Madrid GNP (124.780 million euros in January 2017): within this framework, the supply of apartments for touristic use in Spain has been overtaking the supply of hotels, due to several factors:

Increase in demand: aside from providing more privacy and flexibility, tourists tend to prefer having a whole flat at their disposal primarily because compared to a hotel stay it is normally cheaper.

Increase in supply: renting an apartment is a very well-paid activity, which turns out to be a huge advantage considering the financial crisis Europe is currently struck by. Moreover, if flats are rented out by using online platforms like Airbnb, the renting activity pays off for reasons other than making money: stays are normally short, resulting in the risk of deterioration being pretty much non-existent; payment is always made in advance. Finally, this system allows the landlord to get to know people from many countries, affording the opportunity to know different cultures and improve the language skills.

Apartments for touristic use in Spain are regulated by each the Autonomous Community differently as they have been delegated competences on the issue of touristic matters. We will now focus on the current legality applicable to apartments for touristic use in the Madrid Autonomous Community.

What is the legal framework concerning apartments for touristic use applicable to the Madrid Autonomous Community?

Decree nº 79 of 2014, of July 10, is the regulation currently in force in the Madrid Autonomous Community. In June 2017, a range of reforms in the field were announced, notably aiming at the introduction of the so-called Certificado de Idoneidad para Vivienda de UsoTurístico (Certificate of suitability for apartments for touristic use) and, more broadly, aiming at filling the gaps existing in the current legal framework. Such a certificate guarantees the client that the flat complies with a minimum of quality parameters established by law.

Which are the steps to rent an apartment for touristic use in the Autonomous Community and the City of Madrid?

The current legislation requires all apartments for touristic use to be registered in the Registro de Empresas Turísticas (Touristic Companies’ Registry), by submitting to the Dirección General de Turismo (Touristic Department of Madrid Autonomous Community) a Declaración Responsable de Inicio de Actividad de Vivienda de Uso Turístico (Affidavit of the legal representative of the start-up of activity).

By filing this Declaration with the Dirección General de Turismo (Touristic Department of Madrid Autonomous Community), the applicant is declaring that:

• The apartments complies with the parameters fixed by law.
• The applicant will notify the cessation of the activity as well as any change to the information declared in the Affidavit of the start-up of activity filed with the Dirección General de Turismo.
• The applicant holds all the permits and complies with the legality of any other public organisations or administrations. 
• The applicant knows all the obligations set out for tourist companies by Article 12 of Rule 1/1999, of March 21, on Tourism Regulation of the Autonomous Community of Madrid.

By filing this Affidavit, applicant also needs to possess all of the following documents:

• The incorporation deed of the company and VAT number, as applicable, Spanish Identification number (D.N.I.), Foreign Identification Number (N.I.E.) or passport.
• Ownership title to the real estate (such as purchase deed, leasing contract etc.).
• Plan of the dwelling signed by a competent technician and stamped by the relevant professional association.
• Certificate of habitability.
• Energy efficiency certificate.

The application may be submitted, via electronic registry or in person, at any Registry Office of the City of Madrid, of the central state administration, of any other Autonomous Community, or of any city council of Madrid Autonomous Community which is part of the Red de Oficinas Integradas de Atención al Ciudadano (network of public attention offices), postal offices, and diplomatic representations or consular offices in Spain or abroad. 

What taxes at applicable to apartments for touristic use?

Impuesto sobre la renta de las personas físicas (personal income tax):  to be declared in two different periods during the same fiscal year:

1. The period during which the real estate is rented. The rent, to be declared in full, will form part of the returns on capital assets; concerning the amounts spent on renting the flat, they may be subtracted proportionally to the duration of the renting period.
2. The period during which the real estate is not rented and at full disposal of its owner, which will be declared as an imputed rent.

Impuesto sobre el valor añadido (value added tax): when real estate property is rented, the rent is exempt from value added tax. Therefore, if the owner only provides rental of the flat by interacting directly with consumers, the payment of such a tax is not required. In contrast, if during the stay the owner provides some side services which are provided in hotels as well, like food services, cleaning, laundry services or similar, these extra-performances are subject to payment of separate value added tax. 

What consequences are set out by law if taxes are not paid?

Sanctions are established by Tax law if payment is not made. The fine can correspond to an amount from a minimum threshold of 3.000 euros to a maximum threshold of 300.000 euros, depending on the seriousness of the infringement.

If you are thinking of renting your apartment for tourist you may be interested in downloading this practical and detailed guide of the steps required to initiate the business of apartment rentals for tourists in compliance with the legal dispositions in the Autonomous Community of Madrid.

Feel free to let us know if you have any doubts concerning your apartment for touristic use by writing a commentary to this article or by e-mailing to us to info@powersabogados.com.

You can write us with your comments to this article or for questions about legal issues that you would like us to discuss in future publications, either below or by writing to us at info@powersabogados.com.

Thank you for sharing this information with the people you think might be interested.

Subscribe to our blog to receive future publications.

©2017 POWERS ABOGADOS, S.L. Todos los derechos reservados. El presente documento es una recopilación de información jurídica elaborado por POWERS ABOGADOS, S.L. cuya finalidad es estrictamente divulgativa. En consecuencia, la información y comentarios que se incluyen en el mismo no constituyen asesoramiento jurídico alguno. La información contenida en el presente documento no puede ser objeto de difusión a terceros, ya sea en su totalidad, ya sea en forma extractada, sin la previa autorización expresa de POWERS ABOGADOS, S.L. Todo ello a efectos de evitar la incorrecta o desleal utilización de la información que el mismo contiene.

2017 is an important year for Powers Abogados. This year we celebrate a milestone. 40 years ago the head of the firm, Elizabeth Powers, began her career in the law.

40 years of experiences, personal and professional challenges, dreams, learning, entrepreneurship, success … in short, a lifetime that deserves recognition of dedicated and fruitful professional work that is the spirit of our organization and our way of understanding the law practice.

Let’s get to know Elizabeth Powers a bit more closely:

Elizabeth, tell us how a young 21-year-old American girl ends up studying law at the Complutense in Madrid at night school, working full-time as a bilingual executive secretary and with your newborn daughter Adelina, followed by Isabel and Luis.

Answer: I already had a university degree in Spanish from Trinity College, Washington D.C. (B.A. ’69), four years of humanities with specialization in Spanish and Hispanic culture and literature. It was then when I came to Spain for the first time, to study one of the academic courses of my university degree, and although it sounds somewhat cliché, I fell in love with the country, its culture, its gastronomy and, of course, a Spaniard, who would become my first husband, Luis del Alamo Enríquez, a great jurist, I must add.

When I settled in Spain I found that I had few professional opportunities with my American university studies. But it was easy to receive career guidance from in-laws who dealt in the field of the law, and with their unconditional support, especially that of my mother-in-law and with a lot of personal effort, I achieved my goal of graduating five years later, just before the birth my second daughter who is my colleague by profession and in the firm, Isabel del Alamo. I remember that time as a family and personal puzzle with which I am sure many readers will be able to identify! Today I can say that it was well worth it.

You started your professional life at the American firm Baker & McKenzie where you worked for 17 years of your career at their Madrid office, becoming a local partner. How was your professional experience at Baker & McKenzie?

Answer: My time with Baker & McKenzie has been a fundamental experience in my professional and personal life. I owe everything to the firm: knowledge, friendships, professional techniques, lifelong clients … I keep friendships and unforgettable memories of my years at Baker and McKenzie and as well as fruitful professional relationships that continue today.

In 1995 you decided to start your own professional project by founding Powers Abogados. A small office of five lawyers with an international vocation. What was the turning point in your professional career and in your personal field?

Answer: Creating your own project is always exciting and a personal and professional satisfaction. It was to be the same practice of international law in which I had been trained for 17 years, but with a clear objective of offering my clients the added values of a very personal and close and at the same time more economical treatment, which are both advantages that a smaller office can offer. At the organizational level, I managed to provide the team of lawyers with a fairly innovative system of family reconciliation, maintaining the quality and specialization in legal advice to our clients, which is not easy to achieve in this profession.

What has been your biggest challenge during all these years of profession?

Answer: Keeping ourselves updated in the constant legislative changes that affect the affairs of our clients and a great capacity to solve issues as demanded by our profession is always a great challenge.

Another challenge and important achievement is to create and maintain lasting professional relationships with our clients, based on the trust and professionalism we offer, with the great satisfaction that they become “lifelong” friends and that they know that their projects and problems are ours.

What is your experience or what have you learned about the client-lawyer relationship?

Answer: Undoubtedly, it is important that each client be an active participant in the resolution of their legal issues and that the client be informed of progress regularly. This conscientious attitude of the lawyer towards the clients, of accompanying them, could be more than 50% of the work done by a good lawyer, in addition to the professional expertise that has to be put into practice for each case.

What is your experience or what have you learned most about the relationship between colleagues?

Answer: That teamwork is undoubtedly the best way to work and always brings added value to the final result offered to the client, in addition to the satisfaction of sharing professional achievements and, of course the difficulties arising in the process.

Can you share a professional anecdote?

Answer: There are many, but one that would be unusual today due to the liberalization of foreign investments and the advancement in technology, is that we achieved the first inscription in the Ministry of Industry back in the 80s, with approval of the payment of very high royalties for a contract of transfer of technology of computer software, or as we would say today of an app., between a U.S. client and a Spanish distributor. In those days, the legislation and bureaucracy had not adapted themselves to the reality of this type of international contracts which are common nowadays.

What are the challenges facing the new generations of lawyers?

Answer: To constantly update and adapt to the continuous changes demanded by new technologies and the globalized world in which we live. These are keys for practicing the law in the future, and actually, right now.

Because of the economic crisis the evolution of the value of urban land is not always upwards, as is presupposed by the Tax on the Increase of Value of Urban Land (IIVTNU), better known as Plusvalía Municipal. This issue is precisely the one that the Constitutional Court deals with in its recent judgments of February 16, 2016, March 1, 2017 and May 11, 2017, opening the possibility of claims. Find out if this is your case.

What is Plusvalía Municipal and how is it calculated?

The Plusvalía Municipal taxes the increase in the value of urban land when the ownership of a property is transferred for any reason (sale, inheritance or gift) or when any right of enjoyment or limit of ownership of property is established.

It is a local tax that is levied by the City Hall of the town where the property is located.

The calculation of the tax is based on the land cadastral value of the property transferred, the number of years it was owned (a minimum of 1 year and a maximum of 20 years) and a percentage applied by each Town Hall. A tax rate is applied to this base resulting in the tax payable.

This formula, in practice, means that the Plusvalía Municipal is always positive, regardless of whether the increase in value actually occurred. That is, you always have to pay the tax even if the land has lost value, a circumstance which is not infrequent because of the crisis.

However, recent judgments of the Constitutional Court affirm that when real estate is transferred which has not increased in value, the tax is actually a legal fiction according to which the mere ownership of a land generates a tax at the time of transfer regardless of the actual circumstances of each case, assuming an increase in value subject to taxation, which goes against the principle of economic capacity.

Upon publication of the Constitutional Court judgment, the law will have to be modified for situations where there is no increase in the value of urban land.

The following question is obvious.

Can I claim reimbursement of the Plusvalía Municipal I have paid in excess?

If you sold property for less than when you acquired it, for example during the real estate bubble, selling it during the economic crisis, most probably you are elegible for a refund.

To claim the reimbursement of the Plusvalía Municipal, first check two important issues:

First, your loss as demonstrated by an appraisal. It should also be considered whether the cost of the claim compensates the amount to be recovered.

Second, not more than four years have passed since the transfer of the property. After this time the action is time barred.

Once you have verified those two requirements, you can file the claim by submitting a form requesting rectification and refund to the City Hall where you paid the tax.

In its decisions the Constitutional Court does not clarify the procedure to document that there was no gain upon transfer, but based on the documents submitted in the lower courts with the result of its favorable decisions, the following documents should accompany the claim:

• Payment of the Plusvalía Municipal, that is, the tax receipt.
• An appraisal demonstrating the change in the market value of the land between acquisition and transfer. The calculation of whether there has been a loss in the value of the property is not limited to the comparison of the purchase price and the sale price since the Plusvalía Municipal taxes only the value of the land, and not the purchase price of the property, so the sale deed does not suffice.
• Acquisition and Sale deeds.

In the event that the City Hall rejects the claim, an appeal may be filed for reimbursement before the City Hall or an economic-administrative claim before the competent Municipal Economic-Administrative Court. In the event that the appeal or claim is dismissed, the administrative route is exhausted and court proceedings are then available.

In order to file an administrative claim the assistance of lawyer and barrister is not mandatory; it is required for a court claim.

You can write us with your comments to this article or for questions about legal issues that you would like us to discuss in future publications, either below or by writing to us at info@powersabogados.com.

Thank you for sharing this information with the people you think might be interested.

Subscribe to our blog to receive future publications.

© 2017 POWERS ABOGADOS, S.L. All rights reserved. This document is a compilation of legal information prepared by POWERS ABOGADOS, S.L. and is strictly informative. Consequently, the information and comments contained therein does not constitute legal advice whatsoever. The information contained in this document cannot be divulged to third parties, either in its entirety, or in an extracted form, without the prior express authorization of POWERS ABOGADOS, S.L. in order to avoid the incorrect or misuse of the information contained therein.

Members of the team of Powers Abogados participated in the II Congress of the Madrid Bar Association with 44 round tables, 11 presentations and 7 workshops on legal and social current issues, in a productive and enriching encounter of colleagues.

On April 25 and 26, 2017, the II Congress of the Madrid Bar Association was held at the Palacio de Congresos Ifema in Madrid, organized by the Madrid Bar Association, in which more than 1,500 lawyers participated.

Members of the Powers Abogados team attended this event in which dozens of presentations, round tables and workshops were held with the aim of being a forum for meeting, training and debating current legal issues and, with the spirit, in the words of our Dean Sonia Gumpert Melgosa “to raise the dignity and the grandness of our profession”.

Elizabeth Powers, Rocío Galán and Isabel del Alamo, agree that the  experience was positive and believe that the objectives of absorbing learning and legal knowledge which are useful for the practice of the profession have been achieved, not to speak of the possibility of exchanging with other fellow professionals the experience and concerns of the legal world and lawyers.

The seminars were inaugurated by the President of the Community of Madrid, Cristina Cifuentes Cuencas and by the Dean of the Madrid Bar Association, Sonia Gumpert Melgosa, followed by interesting and generally practical conferences by different authorities and experts in their fields.

These are some of the presentations, round tables and workshops in which the team of Powers Lawyers participated that we chose for their relation to our daily practice with the firm´s clients or for professional or personal interest in the subjects they dealt with:

The validity or legality of digital evidence in court proceedings.

News of the new Regulation of Protection of Personal Data.

Medical liability, fault and burden of proof.

Regulation of housing and touristic apartments: its impact on the municipal ordinance, condominiums, etc.

Practical Compliance Issues: Lights and Shadows.

Nationality: acquisition and loss.

The collaborative lawyer: a new approach to the practice of the law.

New powers of notaries as a result of the Law of Voluntary Jurisdiction: problems and solutions.

Taxation of professional practice: home firms, collective offices, retainers, court costs, cash criteria, unpaid invoices.

Skills for lawyers in communication and management of emotions.

Management of law firms.

The new EU Regulations and the foreign element in the Central Civil Registry.

Ethics and new forms of practicing law.

An interesting social issue, because of the legal uncertainty resulting from a lack of clear regulation (or the attempt to interfere in its regulation by local and autonomous authorities and by the pressure exerted by certain economic sectors such hoteliers) was the round table on Regulation of housing and touristic apartments: their impact on municipal management, condominiums, etc. In short, it became clear that the current regulation of the Autonomous Community of Madrid is not complete and its legitimacy to regulate private property and freedom of owners to rent their homes to those who may or not be considered to be tourists is doubtful, without prejudice to the obligation to comply with tax obligations.

Another topic of great interest was the workshop on Practical Compliance Issues: Lights and Shadows. Just as it was an effort on the part of companies to incorporate into their organizations the regulation on personal data protection, today the urgent implementation of the so-called Compliance is a necessity imposed by the consequences of possible criminal responsibility of the companies and their management. Companies have the obligation to institute a model of corporate governance based on an ethical code and compliance systems.

It was a surprise to find full capacity in the conference of Vicente Prieto Cabras, Psychologist and Technical Director of the Alava Reyes Center, on Communication and management of emotions. We were able to see a growing interest of lawyers not only in the mastery of legal technical tools in the strict sense but also to incorporate other tools that are equally useful in the practice of our profession as those made available by psychology and that undoubtedly lead to more effective and satisfactory results in the solution of legal issues and in dealing with our clients, opposing parties and colleagues.

Finally, we can highlight the interesting proposal of the roundtable Collaborative Lawyer: a new approach to the practice of law, which coincides very much with Powers Abogados approach to the resolution of the cases of our clients. For Spain it is a new tool coming from Anglo-Saxon countries that have been applying it along with other forms of extrajudicial resolution of conflicts such as negotiation, mediation and arbitration. This technique postulates the multidisciplinary intervention of professionals for the resolution of conflicts arising both within the family and in the business environment, using negotiation techniques and formally renouncing court process as a main characteristic, with the saving of costs and time for the clients and for an administration currently saturated; not to speak of the increase of trust and the disposition of the parties to arrive at agreements based on the necessities and not only on the law.

You can write us with your comments to this article or for questions about legal issues that you would like us to discuss in future publications, either below or by writing to us at info@powersabogados.com.

Thank you for sharing this information with the people you think might be interested.

Subscribe to our blog to receive future publications.

©2017 POWERS ABOGADOS, S.L. Todos los derechos reservados. El presente documento es una recopilación de información jurídica elaborado por POWERS ABOGADOS, S.L. cuya finalidad es estrictamente divulgativa. En consecuencia, la información y comentarios que se incluyen en el mismo no constituyen asesoramiento jurídico alguno. La información contenida en el presente documento no puede ser objeto de difusión a terceros, ya sea en su totalidad, ya sea en forma extractada, sin la previa autorización expresa de POWERS ABOGADOS, S.L. Todo ello a efectos de evitar la incorrecta o desleal utilización de la información que el mismo contiene.

Are you a Spaniard or a foreigner and have inherited assets located in Spain? Are you a Spaniard who has inherited assets in another country? Surely you are wondering what it will cost to inherit and whether or not it is worth the legal process involved. Here we help you to clear up your concerns.

Before accepting an inheritance in Spain, it is advisable to have an idea of the costs involved. It is also important to know the total value of the estate and any debts left by the decedent, which together, provides the necessary information to decide whether or not to accept the inheritance.

To make a decision, first you must first calculate the approximate actual value of the inheritance, for which you must know:

• The value of the estate in Spain. You will need to know the market value of real estate on date of death and updated to present, the current balance of bank accounts and on date of death and the value of any other property and rights of the decedent and if the decedent had a life insurance policy.
• The debts of the decedent. Debts such as personal loans, unpaid taxes such as the Personal Income Tax of the decedent, etc. are deducted from the total value of the property and rights of the decedent and therefore reduce the net value of the inheritance.

Once the approximate value of the inheritance has been clarified, and if you have decided to accept it, you will want to know the costs associated with the acceptance of an inheritance in Spain, which are as follows:

Inheritance Tax

Inheritance Tax is levied on the transfer of assets and rights by inheritance, legacy or any other title.

The calculation takes into account:

• The relationship of the heir to the decedent. According to the degree of kinship, reductions are applied.
• The place of residence of the decedent and the heir, which determines whether state or autonomous legislation governs the estate: in general, if the heir does not reside in Spain the Inheritance Tax is calculated only on the assets the decedent had in Spain, regardless of the taxes that the heir has to pay in his or her country of origin. In contrast, if the heir resides in Spain, the Inheritance Tax is calculated on the value of all the assets that the deceased had both in Spain and abroad.
• The value of the assets the heir already has in Spain. If it exceeds € 402,678.11, multiplier coefficients are applied which vary according to the value of the estate and the degree of kinship.

• The debts of the decedent, such as taxes or debts with Social Security which are outstanding at the time of death, may be deducted from the value of assets and rights to calculate the net value of the estate.

• Other deductible costs, such as court costs in relation to inheritance, if any, expenses incurred for the illness causing death (hospitalization, medicines, medical fees), and burial / cremation and funeral expenses paid by the heirs (not those paid by insurance), and charges or levies on inherited assets that decrease their capital and value. Mortgages do not have this consideration because they do not reduce the value of the asset transferred to the heir.

The term for payment of Inheritance Tax is six months from date of death, extendable for another six months, upon request during the first five months after the death.

Municipal Increase in the Value of Land Tax

This tax is payable only in the event that urban real estate is inherited in Spain. This is a local tax assessed by the Town Hall where the property is located.

The Tax on the Increase of the Value of Urban Land, also known as the Plusvalía Municipal, taxes the increase of value of urban property from acquisition by the decedent to date of death.

The term to pay the Plusvalía Municipal is six months from date of death, extendable for another six months, upon request during the first five months after death.

Other costs

These are other costs associated with the acceptance of an inheritance in Spain to be taken into account:

• Fees for the certificates of last will and insurance coverage of death.
• Fees for the NIE (Foreigner Identification Number) application, if applicable.
• Notary fees for:
  • Granting powers of representation of the heir in favor of third parties or lawyers, if applicable (usually when the heir resides outside of Spain).
  • Authorized copy of the last will made by the decedent before a Spanish notary.
  • Notarial deed of declaration of heirs (when the decedent did not make a will).
  • Notarial inheritance distribution deed (when it is not possible to make an private inventory).
• Fees of the Property Registrar, in the case of inheriting real estate.
• Legalization and sworn translations of foreign documents and certificates of law, if applicable.
• Filing agent and legal advice of lawyers in the processing of taxes and legal documentation.

To make an approximate calculation of all expenses and taxes it is necessary to compile minimum documentation related to the inheritance:

• Confirmation of real estate property from the Property Registry if there are real estate assets.
• Death Certificate.
• Certificate of last will and insurance coverage of death.
• Bank certificate of balances at the date of death.
• Debts of the decedent on date of death.
• Last will of the decedent.
• Invoices of deductible expenses.
• Copies of the decedent´s income tax returns.
• IBI (land rates receipt) for real estate.

Visit our estate page on the web to learn how you can find out if there is a will, what an open will is, and what happens if there is no will.

Do you want us to study your case and calculate the approximate taxes and expenses of your inheritance?

In our firm we have more than 20 years´experience advising Spaniards and foreigners who inherit in Spain and Spaniards who inherit abroad. Write or call us to ask about your particular case. If you want to know more about us, visit our website.

Write us with any other questions you have about inheritances in Spain in the comments to this article in our blog or to info@powersabogados.com and we will be happy to answer them in future publications.

Thank you for sharing this information with the people you think it might interest. Subscribe to our blog to receive future publications.

© 2017 POWERS ABOGADOS, S.L. All rights reserved. This document is a compilation of legal information prepared by POWERS ABOGADOS, S.L. which purpose is strictly informative. Consequently, the information and comments contained therein do not constitute legal advice whatsoever. The information contained in this document can not be divulged to third parties, either in its entirety, or in an extracted form, without the prior express authorization of POWERS ABOGADOS, S.L. All this in order to avoid the incorrect or unfair use of the information contained therein.

Extract from ETERNAL STORIES FOR LEARNING TO LEARN by José María Doria. A selection of stories of multiple cultural roots which form the Ethical Heritage of Humanity.

In the far off Kingdom of Kariel, lived Long Ching, an old man with a fragil little body and a long white beard. His serene manners and his way of speaking, always thoughtful and kind, made him respected all over the region.

People said that Long Ching, in his youth, was initiated in the mysteries of ancient wisdom. And it is true that his neighbors as well as his only son who lived with him, admired his great lucidity and temperance.

One day Kariel´s townspeople found him very sad. During the last storm, his mares had escaped from his corrals to the mountains, leaving the poo old man without his livelihood.  Because of this, the townspeople were troubled and continuously visited his honorable house:

“What a disgrace!  Poor Long Ching! They said to him.  “Damn the storm that fell on his house! What bad luck your life has brought you.   Your house and goods are lost.”

Long Ching, amiable, serene and attentive, merely said over and over again:

Perhaps, perhaps…

A little while later, the first winds of winter appeared bringing freezing cold to the region. And Oh what a surprise, Long Chin´s mares returned to the warmth of their old stables, but this time they were pregnant and the wild horses they found in the mountains came with them.

With their arrival, Long Chins herd grew unexpectedly.

When the townspeople heard this, they were very happy for the old man´s good luck and one by one, they went to his home to congratulate him for his good fortune.

“What good luck you have old man, Bless the yeguas… for running away and then increasing your herd.  Life is generous with you, Long Ching”.

To which the old sage merely answered again and again:

Perhaps, perhaps…

A short time later, the new horses were domesticated by Long Ching´s son, who, from dawn to sunset trained his animals for new tasks. It could be said that prosperity and happiness reined in their home.

One morning like any other, it happened that one of the horses threw off Long Chin´s young son with the bad fortune that his legs and arms and even some ribs were broken by the tremendous fall.  The result was that the only son of the old man was incapacitated for a long time and could not do his daily jobs.

The townspeople were consternated by this sad news and everyone went to his home saying to the old man:

“How terrible you must feel Long Ching” they said sadly. “What bad luck, your only son! Damn the horses that brought bad luck to your home.”

The old man listed serenely and merely responded again and again:

Perhaps, perhaps…

In time, the heat of the summer passed and when the first breezes of autumn were felt, high tension with the neighboring country exploded in armed conflict.  War was declared and all available youths were enlisted for that dark adventure.

Soon after the news was heard, a group of government emissaries came to Kariel to enlist all available youths in the county.  When they got to Long Ching´s house and saw his son, they continued on their way and forgot the boy who looked like he would take a long time to mend.

The townspeople of Kariel were happy to know that Lon Ching´s son would stay home.  And so, once again, one by one they visited the old man to exclaim on the good luck that had touched the old man with its Wing.

“Good luck has come into your life Long Ching,” they said. “Blessed be the fall for it is saving your son´s life, keeping him at your side during the uncertainty and anguish of the war. Yours is a great destiny which takes care of you and your house by keeping your son at home.  Good luck blesses your home.”

The old man, with a twinkle in his eyes merely answered:

Perhaps, perhaps…