Inheritances and wills are often a headache. They can generate disputes and problems within the family. And sometimes, not paying attention to details can be especially detrimental to those who receive your legacy after your death. Generating judicial disputes, being exposed to bureaucracies or obstacles that, a priori, they could have avoided.
The small print and its modalities
In that sense, joint ownership of an account allows ‘access’ to the funds by any of the co-owners, even if only one is the owner of the account. It is necessary to keep in mind that even though one appears as a joint owner, the money deposited by the other owners in it will not be transferred to you.
Something that is established in a deposit contract, such as bank current account contracts. The depositor will remain the same even if there are more people established as the owner, who will only be able to access those funds even if they are not considered theirs.
If what we have is marriage in communitywhen one of the two spouses dies, the living owner will have ownership of half of the amount available in the account. While the rest belongs to the legal heirs, or in their absence, to direct first-degree relatives.
In addition, it is necessary to know that using money from a joint account after the death of a co-owner can be a crime of misappropriation. “Unless they have the express consent of all the heirs of the deceased owner,” as clarified by the Bank of Spain.
AND We must not forget to pay the Inheritance and Donation Tax to receive the capital from the bank account, except when for some reason you are exempt from this payment.
Procedure to follow
For the surviving owner to take possession of the account, he or she must notify the financial institution of the death of his or her partner and present the death certificate. The bank then freezes the money in said account until the will is opened.
That A will can bequeath 100% of an account to the co-owner bank, but for this there must be no other heirs. If the co-owner is a legally recognized heir, he or she will have to deliver the certificate of registration of acts of last will and an authorized copy of the will, as well as a document evidencing the status of heir.
In this scenario, forced heirs must also be taken into account, that is, first-degree relatives such as children or parents. This is because the hereditary mass is divided by three. He The first third corresponds to the part of the assets that corresponds to those forced heirs. The order of priority is the children, the parents, and finally the widow or widower.
He second third is the third of improvement can be used to improve the inheritance of forced heirs. A spouse, in general, leaves his or her partner the third of the improvement, which means being a beneficiary during life, always preserving the assets, since the real beneficial owners will be the children. But the descendants of the deceased co-owner can also judicially claim what appears in the will. However, the “cautela socini” clause prevents this possibility. And it remains to be mentioned the third freely availablethe testator can freely decide to whom to bequeath his assets.
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