Skip to content

death can be taxing

Home Living In Crete Your Money, Forex, Banking death can be taxing

Viewing 8 posts - 1 through 8 (of 8 total)
  
  • Author
    Posts
  • #26645
    latsida
    Participant
        • Topics: 165
        • Replies: 2407
        • Total: 2572
        • Practcally Cretan
        • ★★★★★★
        Member since: 17th October 2006
        Compare hotel prices and find the best deal - HotelsCombined.com
        BullionVault

        #27051
        Anonymous
            • Topics: 410
            • Replies: 3735
            • Total: 4145
            • Practcally Cretan
            • ★★★★★★
            Member since: 1st January 1970

            This article is a little misleading in that it states that being subject to UK inheritance laws can be a bad thing. T’aint always so!

            For example, the nil rate band in the UK is £320K per person or £640K for a married couple. Goods left to a spouse are exempt (untill the spouse dies).

            Contrast that with Greece where any cash you leave is taxed at 10% with no exemptions. If the money is in a joint account then they assume that the deceased owned 50% of it.

            Also in the UK the deceased wishes stated in their will can be carried out. In Greece, despite what the will says, certain relatives must benefit. In my case this would mean that our house, which my wife left to me, would have five owners!

            For all of the above reasons I am fighting to claim that I am really domiciled in the UK.

            John

            #27320
            latsida
            Participant
                • Topics: 165
                • Replies: 2407
                • Total: 2572
                • Practcally Cretan
                • ★★★★★★
                Member since: 17th October 2006

                Hi RIC
                the nil rate is quoted in the third paragraph.
                Sorry that you are having problems , and hope they will soon be resolved.
                Christine

                #27525
                Binx
                    • Topics: 117
                    • Replies: 697
                    • Total: 814
                    • Practcally Cretan
                    • ★★★★★★
                    Member since: 7th March 2010

                    Good post Latsida and thank you . I have printed it out just in case..!

                    #27688
                    Fowles
                    Participant
                        • Topics: 102
                        • Replies: 665
                        • Total: 767
                        • Practcally Cretan
                        • ★★★★★★
                        Member since: 22nd March 2007

                        "In Greece, despite what the will says, certain relatives must benefit."

                        Can you confirm which relatives in Greek law are included?

                        #27813
                        latsida
                        Participant
                            • Topics: 165
                            • Replies: 2407
                            • Total: 2572
                            • Practcally Cretan
                            • ★★★★★★
                            Member since: 17th October 2006

                            Hi Fowles,
                            there is a link for Inheritance Tax law changes in the links section at the top of this page, however here is a quote from the same lawyer

                            For property located in Greece, the ownership and property rules apply the same to Greeks and non-Greeks. However, who inherits what share is determined by the citizenship of the deceased. If the deceased had Greek citizenship (or dual citizenship – Greek and another), then, for property in Greece, it is Greek law which determines what are the inheritance shares. If the deceased was not Greek, then it is the law of his/her citizenship that will determine who inherits how much.
                            this quote is taken from this website
                            http://www.helleniccomserve.com/iliopoulosinheritlaws2010.html
                            and the lawyer Christos Illiopoulos.

                            christine

                            #27909
                            Anonymous
                                • Topics: 410
                                • Replies: 3735
                                • Total: 4145
                                • Practcally Cretan
                                • ★★★★★★
                                Member since: 1st January 1970

                                Again, it is not as simple as the link you posted suggests.

                                The link quotes Greek and EU law but the UK government has not signed up to this!! Under EU law I have the right for my wife’s will to be executed under UK law but UK law says that if I am not a UK resident it must be executed under the laws of the country I live in. Stalemate, and hence my current battle!

                                Lastly, I do not propose to contribute further to this thread as I wanted to post all this, and other information, on this site. Gerald, in his wisdom and within his rights, suggested it would be better posted elsewhere. You can read his comments here:

                                John

                                #27982
                                Gerald
                                    • Topics: 328
                                    • Replies: 229
                                    • Total: 557
                                    • Practcally Cretan
                                    • ★★★★★★
                                    Member since: 17th September 2006

                                    John

                                    I have deleted the link in your post for the reasons stated in an earlier post that was directed at you and others, which said:

                                    "I hope members will appreciate that to keep carping on about the way the forum is run, who is right or wrong, picking on the admin is just turning others off. Especially when this is a regular forum following typical rules. So I ask that members stop trying to make it look otherwise."

                                    If you don’t like the forum rules. Do not participate.

                                    If you or others continue to challenge admin, carping on and on, cushioned in even the most sweetest of writing even when this forum’s position is made clear, I will delete membership immediately.

                                    Thank you.

                                  Viewing 8 posts - 1 through 8 (of 8 total)
                                  • You must be logged in to reply to this topic.
                                  Scroll To Top