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V0986-25 ·10 June 2025 ·consulta-vinculante Low impact
Tax

Trusts: settlor retains ownership, no taxation until death

A Spanish resident asks whether assets of a trust in which they are a beneficiary must be declared and how they would be taxed after the settlor's death. The DGT responds that, as trusts are not recognised, the settlor retains ownership and assets are only subject to inheritance tax upon death.

In 6 key points

How it affects those involved

Assets in a trust are not subject to wealth tax while the settlor is alive, and only become taxable under inheritance tax after the settlor's death.

Lifecycle

2025-06-10PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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