Sooner or later, at some point in life, people are beneficiaries of an inheritance After the death of a loved one. However, receiving this set of goods, rights and obligations implies legal responsibilities and procedures that, if they are not carried out correctly, can become a true headache.
And it is that the errors when managing an inheritance are very common. In this sense, a lawyer has warned of the 6 most common failures than people comment when receiving an inheritance. Through a video posted on your Tiktok account (@xavi_abat), Xabi Abat Explain how to avoid and perform this process ensuring compliance with all legal and fiscal obligations.
The mistakes we make when receiving an inheritance
The first failure when receiving an inheritance is related to Liquidate the late -term succession tax. As ABAT explains, there is a period of 6 months from the date of the death of the deceased. “It is very frequent that, due to the complexity of the procedures or because of the ignorance, the deadline is passed and the sanctions, surcharges …”, he says.
To prevent this from happening, the lawyer recommends initiating the procedures as soon as possible and, in case of believing that the deadline cannot be fulfilled, request an extension within the first 5 months from the death. “Once granted, you are going to be granted additional 6 months,” he explains. These deadlines, he points out, are also fulfilled for the liquidation of the municipal surplus value In case of inheriting real estate.
The second error is Do not consider the existence of deceased debts. “By accepting an inheritance you not only acquire the assets and rights of the deceased, but also their obligations and debts,” he says. To avoid this risk, the lawyer recommends carrying out a prior exhaustive investigation and considering accepting the inheritance to “inventory benefit”, which will allow responding to the debts of the deceased only with the inherited goods and thus protect personal heritage.
Another of the most common failures when receiving an inheritance is to perform acts that imply their tacit acceptance. An example is “selling, renting or using assets of inheritance without formal acceptance” or “withdrawing funds and managing accounts from the deceased without proper authorization.”
Fourth is located Ignore donations made in life by the deceasedsince these “can influence the distribution of inheritance and generate imbalances among the heirs.” This is called collation of goods and guarantees the equitable distribution among all the inherited.
On the other hand, a habitual failure is ignore the deductible expenses in inheritance. And there are expenses related to the death that can be deduced in the settlement of the inheritance tax. Among them, are funeral, medical or legal expenses. “To take advantage of these deductions, keep all the documentation and have a good advice,” says Abat.
Finally, the lawyer considers that a very common error in these procedures is The lack of professional advice. As the content creator explains, the management of an inheritance implies a series of complicated legal and fiscal procedures that, if they try to handle without adequate knowledge, lead to “expensive errors.”
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