This is the news item published in the newspaper "El Pais" today. It's an example of what we can do in our will; that is, in the absence of legal heirs, The man disposed of his inheritance as he pleased.Wow. The news is quite unusual.
Juan Ignacio Balada Llabrés, a businessman from Ciutadella, Menorca, who passed away on November 18, bequeathed his fortune to members of the royal family. Specifically, the Menorcan businessman and investor donated half of his estate to the Prince and Princess of Asturias, Felipe de Borbón and Letizia Ortiz, as well as to the eight grandchildren of King Juan Carlos and Queen Sofía. The remaining 501,000 pounds of the Ciutadella billionaire's legacy will be used to establish a foundation for the public good, according to [source missing].
has reported Menorca Daily. Zarzuela Palace has confirmed the news and described the event as "unusual".
According to information published by the
diary Latest News Menorca, The fortune of Juan Ignacio Balada Llabrés - the only son of businessman Ramón Balada and pharmacist Catalina Llabrés - consists of rural and urban properties, real estate securities and stock market investments and constitutes the largest personal fortune in Ciutadella, which may reach several tens of millions of euros.
Sources at the Royal Palace have clarified that the Prince and Princess had never had any contact with Balada nor received any information about him until the executor contacted them a few days ago to inform them of the provisions of the Menorcan businessman's will. The Zarzuela Palace indicates that the fact that eight of the heirs (the King and Queen's grandchildren) are minors may delay the transfer of the assets.
The royal family is unaware of the amount of the donated assets, their value, their nature, and whether there are relatives who wish to claim rights in relation to them, so the Princes are waiting for the executor to contact the relatives of the deceased businessman and provide more information about the specific situation of this estate.
Sources at the Zarzuela Palace have indicated that the first step is to contact the Catalan lawyer who is acting as executor of the will, so that he can send the official inheritance documentation to the Royal Household, which has not yet decided whether to accept it or how it will be managed if accepted.
The Balearic Islands Autonomous Community - where he had his tax residence - will receive 68 percent of the inheritance as it exceeds an amount of 797,000 euros, according to the General Tax Law and the Property Transfer Tax and Documented Legal Acts.
The heritage of Balada Llabrés
Juan Ignacio Balada Llabrés was the sole administrator of the development company Adalab SL, based in Barcelona, with a share capital exceeding eight million euros. Regarding real estate holdings, the Ciutadella Property Registry lists three houses, two buildings, and five plots of land. Of particular note, due to its central location in the city's historic center, is the Llabrés Pharmacy, situated in
Ses Voltes. It is a modernist building, protected for its artistic and heritage value, and has been listed as a Cultural Heritage Site. The sale of some land, known as S'Hort den Llabrés, provided him with significant income. This area, owned by Catalan developers, has not yet been urbanized. In contrast, on the urban land belonging to the former ice factory, which his father had managed, a large block of apartments and commercial premises has been built. The exchange of part of this land with the Ciutadella City Council also yielded him substantial profits. In this growing area of the city, Don Juan de Borbón Square was created, where he built the mansion where he resided.
