Let’s face facts. Estate law and estate planning is a murky subject. The average person won’t know it all. If one embarks on estate planning without the help of a good New York estate planning attorney, mistakes can and often do happen.
In Italy, just like the rest of the world, there are many real estate agents to choose from, and it is wise to contact some of them with your requirements before you do anything else. Doing so will help you get a better prospective on the market and determine what you can purchase for your money. If you’ve never been to Italy before, you should head on there first, stay as long as you need to allow yourself ample time to get used to the area and check out some of what Italy has to offer.
If you ever want to get into investing you will need a great lawyer on your team. I can not tell you the number of times I have had real estate agents tell me you can not do that, only to find out they did not understand the strategy and in a moment of confusion screamed “hit the breaks”. As an investor you have a lot more flexibility and leeway.
You can distribute all you possess as per your wishes with the help of a will. Most states would allow this. However, the state authorities would not permit giving effect to something like destruction of your property in case something happens to you. Your estate planning insanité d’esprit testament would be able to help you understand the best possible way to make a valid will.
While looking for a new home and sorting out the paperwork can be a stressful experience, try to relax and enjoy it as much as possible. After all, this is Mallorca and there are few better places to relax. Try to combine you house hunting with a holiday. Take a few days off to enjoy the excellent local cuisine and beautiful scenery.
The purchaser has to pay purchase tax. This tax has to be paid within 50 days of the signing of the contract. The tax is computed on a sliding scale and is easy to calculate. The more expensive the apartment, the higher the tax. If the purchase tax is not paid, the property cannot be registered in your name. Lateness in paying the tax will incur fines. Your lawyer will be able to tell you how much the purchase tax will be for any apartment you are considering, so that you can add this figure into your budget.
You shouldn’t try to be your own lawyer any more than you would try to be your own dentist or surgeon. As the saying goes, “You get what you pay for.” If you think do-it-yourself estate planning software is the answer, you should read the evaluation conducted by Consumer Reports.