Do not take advise from here, nobody is professional .......ask Citizens Advice Bureau Spain, they have a Facebook page and a web site.

Whilst leafing through an airline's magazine over France I came across this article by a tax consultant called Wincham I have no idea whether it is accurate or not but if there is half a grain of truth in it,

[i]Common myths

[b]Purchasing/transferring the property into your children's names[/b]
Using either of these methods you would need to pay tax to keep your own property should your children predecease you. There are also gift tax implications both in Spain and the UK. You would have to trust your child to make a Will leaving the property to you and hope they do not divorce or fall into serious debt both of which could mean you may ultimately lose your property.

[b]A Spanish Will shields you from Spanish Inheritance Tax[/b]
This is not true and a Spanish Will can often complicate matters as it may conflict with an earlier Will prepared in the UK and does not eradicate IHT. A Spanish Will cannot be varied after death and therefore limits the options of the beneficiaries. If there is only a UK Will, then, with an agreement of all the beneficiaries, the Will can be varied to accommodate the inheritor's wishes should this be required. The only requirement of the Spanish authorities before the property can be transferred to the new owner's names is to be presented with a death certificate and Grant of probate from the UK, translated, notarised and apostiled.

There are changes scheduled to take place during August 2015 within the Eu which will mean that a Will should state the intended succession jurisdiction. It will no longer be possible to assume that your place of domicile will dictate where your estate is to be dealt with which could result in your foreign property being subject to Probate in the country it is situated in and therefore you may not be able to leave your assets to whom you wish.
[/i]
The article also went on to refer to Taking out as mortgage to reduce the tax liability - also a no no and Waiting 4 1/2 years to inform the authorities of the death - a criminal offence apparently.

Now some of this is blatant scare mongering but the news about the proposed EU changes was new to me

Be very careful There is a firm by the name of I think wincham or fairly similar who tend to use a form of scare tactics to draw people in This is only what I have hear and it is only my opinion on the subject. Hence I think you should talk to a person in the legal business over here.
As i did once before here is a copy of an earlier posting of a firm local over here Who seem to be on the ball
Friends of mine used them Their English is good.
We are glad to offer to the members of the Forum the legal services of our Law Firm based in Torrevieja and La Marina area. We offer all kind of legal services, like propety conveyance, Wills, litigation as well as very competitive business, house and car insurances. For more information, please visit our website OR email me at [email protected] www.ricorabogados.com
Tel 0034-687-888873
Good luck