Viral Video Misleads Spaniards About Inheritance Tax Avoidance

In Spain, a viral video falsely claims that trusts can be used to avoid inheritance tax. This misconception is circulating widely on social media, causing confusion and potentially leading people to make costly mistakes. A lawyer, Xavi Abat, debunks the claim, stating, "The trust, as presented in those videos, does not exist legally in Spain, neither at a legal nor fiscal level." He explains that regardless of the transfer method, taxes are unavoidable when transferring property. The video highlights the importance of seeking professional advice before making financial decisions based on unreliable online information. This video serves as a valuable public service announcement, correcting misinformation and educating viewers about Spanish tax laws.