Lower Cost of Spanish Inheritance Tax in 8 legitimate ways that you can reduce the costs associated with claiming an inheritance in Spain.
If there is a mortgage on any inherited property this can be deducted from it’s total value before reaching the taxable value. Any other quantifiable legal debt likewise may be deducted from the value of the estate.
While not appropriate for everyone, in general, bequeathing the estate to as many beneficiaries as possible is sensible as each one has an exemption (Approx. €15,000) that can be used to reduce the taxable value.
Leaving a life interest instead of the full interest in the estate can reduce tax substantially also.