Acceptances of inheritances

Conten Table

inheritances how it works

There is no doubt that the Covid-19 pandemic leaves a trail of human tragedy. Many families are saying goodbye to their loved ones without being able to say goodbye.

In situations like this, there are always doubts about what process to follow. Delegating the process to a lawyer is the easiest and safest way to achieve the best result and to be able to focus on the family and the bereavement.

The death of a relative has consequences and legal obligations with a significant cost and deadlines to be met, which should be known in order to do them in the best possible way, avoiding unwanted consequences such as the imposition of penalties for not settling the Inheritance Tax six months after the death.

Managing an inheritance

The management of an inheritance has a certain legal complexity (especially in cases where there is no up-to-date will) which makes it advisable to call in a lawyer. Broadly speaking, the process:

  1. Obtain the death certificate, a document provided by the Civil Registry, WHICH IS CURRENTLY OVERCROWDED and requires follow-up to obtain it. This procedure is now purely telematic. Be careful, as there are many fake websites that pretend to provide it and charge for a procedure that is actually free of charge.
  2. With the death certificate, and at least 15 days after the date of death, it is necessary to request the Register of Last Wills and the Life Insurance Certificate. In addition, if there is one, it will be necessary to obtain a copy of the will.

The casuistry is high, there may be several contradictory, unclear wills. Or, due to the quarantine, one may have been made at the last moment without the presence of a notary that contradicts what was written in the most recent will before a notary. It is important to draw up an inventory of assets, debts and obligations and to collect the documents to prove this (property deeds, purchase contracts, bank certificates, etc.). The acceptance and division, if possible, of an inheritance is carried out in person with the presence before the notary of all those recognised as heirs in the will for the signing of the deed of acceptance and division of inheritance.

Acquisition of inheritance without a will

If, on the other hand, it is found in the Register of Last Wills that the deceased had not made a Will, other steps will have to be taken. Go to the notary and make a Declaration of Inheritance. This is prior to the acceptance and division of the inheritance mentioned in the previous paragraph and the distribution of the inheritance will not be made according to the will of the deceased but following the rules of the Civil Code.

Once the deed of acceptance and division of the inheritance has been drawn up, it is necessary to pay Inheritance Tax and capital gains tax if there is real estate in the inheritance.

The management of the inheritance can present numerous complications such as: if the deceased has more debts than assets, in which case it is advisable to renounce the inheritance or accept it with benefit of inventory; if one of the heirs does not accept the provisions of the will and decides to challenge it judicially, etc. …..

All of this makes it more than advisable to seek the advice of a lawyer. A professional specialised in the matter of acceptance of inheritances who will help you to carry out all the steps without any inconvenience. You can consult our youtube video on this subject.

Contact us for more information.

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