money
21 - 27 OCT 2011
27
What’s not in the guide books by
Suzanne O’Connell Customer Care at Ábaco
DO YOU know what the procedure is if someone dies in Spain? I know it’s not a subject that any of us wants to think about but the subject was raised at the Ábaco offices. The reason? One of our clients suggested we should write about it in our Ábaco magazine. Unfortunately, his partner had died and he suddenly found himself lost as to what he should do and who he might contact. As he pointed out, it’s something we need to know that the guide books don’t tell us. So,what do you do? Most of us had not thought past the dial 112 stage. We were all aware of how vulnerable we would be at this time and perhaps likely to call on a neighbour, friend or colleague. But would they know what to do? Sometimes we can assume that procedures are the same or similar to that of our native country. It’s often not the case. In the UK, for example, we are used to picking the date
of the funeral to suit family and friends. There is plenty of time to prepare, and relatives have opportunity to travel. In Spain, funerals are expected to take place as soon as possible after the death. This can make it difficult for relatives to attend and explains the value of having funeral plans in place. So, to prompt a little discussion around a difficult subject here is some basic information about what you might expect: 1. if the deceased has been ill and under medical care – contact your doctor or medical centre via their emergency number 2. if the death is sudden – contact the police 3. the doctor or the police will notify the ‘Tanatorio’ (funeral parlour) who will arrange for the removal of the body 4. you will need to visit the Tanatorio as soon as possible after the death to make more detailed arrangements about the type of ceremony and service
to take place 5. make sure that the passport of the deceased is cancelled and that you receive at least five death certificates 6. use the HELP fact sheet (see below) to check that you have informed everyone that needs to know Perhaps the best advice, if you can, is to make a funeral plan and talk it through with those close to you. There are several companies who specialise in this service and have their own guidance and information to help you make your decision. These pages of the guide book we just have to complete for ourselves. For more information about the legalities and inheritance tax call the Ábaco Helpline (0034) 96 670 3748. Friendly British staff will answer your queries, free of charge with no obligation. It might not be in a guide book but there is an excellent FACT SHEET produced by HELP Vega Baja available at http://www.helpvegabaja.com/
If you would like a FREE, no obligation tax consultation and help with completing your annual tax declaration contact one of Ábaco’s friendly team on ÁbacoConnect Help-line 966 703 748 | www.abacoconnect.com
CAM customers complaining daily EXTREMELY UNHAPPY CAM customers that invested in bank shares find themselves in the dilemma of retaining all their money but without access to a single cent of it, caught in the CAM ‘preference share’ trap: CAM sold €1,400 million such shares, now ring-fenced by nationalisation. The owners of such shares have no way of earning on them and bank employees are faced with the daily task of fielding the complaints of understandably furious customers demanding their money back. Many of the shares were sold against the recommendations of the usual financial advisors concerned with preventing their clients taking such risks. Class action against the bank is thought to be unlikely as the investors would probably have to prove they were completely ignorant of the risks involved.
Speculative investors bet on Spanish financial ruin as a ‘sure thing’ AS BAD debt levels in Spanish banks crept over 7% in August for the first time in sixteen years (says the Bank of Spain), around €126 billion has been invested by individuals banking on the total failure of the Spanish economy. Certain financial products offer investors a profit on stock market failure, with others paying out on the sovereign debt increasing.
Complaints about Salt Lake initiative THE LOS Verdes party in Torrevieja has said that they feel that a new tourism project for the city would be detrimental to the local environment. The Partido Popular (PP) led Town Hall has expressed an interest in an initiative that would see the local salt lake and its surroundings becoming an area of touristic interest. The PP has already approached the French company that owns the lake and negotiations are taking place to ascertain whether it would be a feasible and ecologically sound project to open up the local salt industry to tourists.