We understand that dealing with the legal intricacies of inheritance can be daunting, especially if you're not familiar with the Portuguese system. That's why we're here to help, and there’s good news regarding inheritance tax!
If you are a foreigner and own a property or any assets in Portugal you should be aware that in case of death, the inheritance process is easier and cheaper if you grant a will in Portugal. In most cases this allows for the registration of the real estate assets in the heir’s names to be completed without any need to previously grant a probate.
Since August 2015, Portugal has in place an EU regulation, under which if you are a resident in Portugal and you don´t stipulate which law is applicable to your succession, Portuguese succession law will automatically apply upon your death.
Portugal has a forced heirship regime, meaning that there are legally legitimate heirs that cannot be overlooked in the way one disposes of his/her assets under a will (mainly spouse, children and parents).
Therefore, it’s essential to work with a knowledgeable and experienced lawyer who can help ensure your will is valid and legally sound and considers any potential conflicts or complexities.
As has been for many years, there is no inheritance tax in Portugal between spouses and between parents and children. To other categories of heirs, a flat rate of 10% is applicable.
At BBM Lawyers, we will guide you through the process, helping you to navigate the Portuguese legal system and help you ensure that your assets are protected and distributed according to your wishes.
I have lived in the Algarve for 25 years and instructed Barbara at BBM Lawyers to manage my Will. I knew I had to get it done, but had been putting it off. Understanding the importance of having a will, I was recommended to Barbara who was a joy to work with. Her gentle approach was a welcome relief as we are both elderly and unsure of the laws. Within two weeks our Will was all worked out and written and we have peace of mind we have taken care of our family, and our wishes.