10 things you should know about inheritances

Inheritance is an extraordinary event in people’s lives, and in many cases it is only faced on a single occasion. This justifies, on the one hand, the novelty it always has when it happens and the convenience of turning to a professional to guide us. On the other hand, the very exceptionality makes it difficult to find companies that truly specialize in it. Therefore, after the death of a loved one, we must deal with a series of unknowns that may be resolved by choosing the right professional or, on the contrary, a long period of uncertainty may begin, where inefficiencies lead to a very high cost. Here we share 10 key questions to ask when starting inheritance procedures.

1. Is it advisable to make a will?

Yes, for many reasons: it avoids having to make a declaration of intestate heirs, it can leave the widowed spouse in a better position by giving him or her more rights that by law would correspond to him or her, etc. In addition, if you do not have relatives, it is very important to make a will, otherwise the State or an Autonomous Community will inherit, as the case may be. On the other hand, the notarial will has a low cost: about 40,00 euros per will.

2. Are a will and a declaration of heirs the same thing?

No. They are different things (the declaration of heirs is only made if there is no will):
– Will: document – usually notarized – made by a person naming his or her heirs.
– Declaration of heirs: judicial or notarial document that must be obtained when a person has died without making a will. In it the judge or notary says who are the heirs of a person.

I have made a will in which I leave rights to my spouse, now I am divorced: do I have to change it or are the provisions in his favor null and void?

Although it may seem strange, in principle and according to the Spanish Civil Code, testamentary dispositions in favor of the spouse are not automatically revoked in case of separation or divorce. This is why it is very important that, in the event of divorce or separation, the will be changed to expressly exclude the former spouse. Failure to change the will can cause problems and lawsuits in the future.
However, in Catalonia, Aragon or Galicia, their respective civil legislations establish that testamentary dispositions in favor of the spouse are without effect in these cases of matrimonial crisis.

4. Can I pay the inheritance tax with inheritance money that is deposited in a bank or savings bank?

Yes. In spite of what many credit institutions may tell you or give you “obstacles” to do so, you are not obliged to pay the inheritance tax with your own money, you can also do it with money, with shares or with insurance of the inheritance.

5. What is the deadline to pay the Inheritance Tax?

In principle, 6 months from the death of the deceased, although an extension of another six months is possible. However, there may be some specialties in the case of territories with fiscal autonomy.

6. What are last wills?

Whenever a will is made before a public official (such as a notary public) they communicate to a registry in Madrid, the Registro General de Actos de Última Voluntad (General Registry of Last Will and Testament) that such person has made a will. They do not send the original will, which remains at the notary’s office, but only communicate the essential data: notary before whom it was made, date, name of the testator, etc. This data is kept on file in the Registry. If the same person makes a new will, the data will be communicated again. That is why it is known how many wills such a person has made. When you die, you can request a certificate from this registry (“last will and testament”) which will indicate which wills you made, on which dates and before which notaries.

7. Does the heir have to pay the debts of the deceased?

The person who accepts the inheritance is liable with all his assets (not only with the inherited ones) for all the debts of the deceased (without prejudice to the special regime of Navarra). Therefore, if the debts are important or add up to more than the assets and rights of the inheritance, the possibility of renouncing the inheritance or accepting it “with benefit of inventory” must be taken into account. Before doing anything, it is advisable to seek advice from a specialist, as the inheritance may be tacitly accepted and cause you problems.

8. Can an inheritance be made if an heir does not want to sign the partition?

If an heir does not want to make the inheritance voluntarily, it will have to be processed through the Courts of Justice. However, in principle, this is not a good solution because it can entail a lot of costs. What must be done is to gather all the necessary documentation to make the inheritance (last will and testament, bank certificates, deeds, etc.) and to propose a fair distribution with all the heirs. If it is necessary to cede something, it is advisable to do so, to avoid problems and delays.

9. Does the domestic partner have inheritance rights?

In principle, no. The Civil Code does not establish inheritance rights for domestic partners. There are exceptions to this, since it is necessary to take into account Catalan, Galician, Navarrese, Basque and Balearic civil legislation.

10. We are only three siblings and, looking at my father’s will, I see that he has left me the “strict legitimate”, what does it consist of?

In principle, the amount of the legitimate share may depend on whether the succession is governed by the Civil Code or by the foral laws. If the Spanish Civil Code applies, it means that your father has left you the minimum, which is 1/3 divided by the number of children (in this case three), so he has left you 1/9 part. If, for example, the inheritance consists of a house valued at 180,000 euros, you are entitled to 1/9th part, i.e. 20,000 euros.