What is an inheritance?
An inheritance is the entirety of the assets, rights, and obligations that a person acquires after the death of their previous owner.
The person who receives this estate through an inheritance is known as an heir or legatee.
Who are the heirs in Spain?
The following are forced heirs: 1. Children and descendants with respect to their parents and ascendants. 2. In the absence of the above, the parents and ascendants with respect to their children and descendants. 3. The widow or widower in the manner and extent established by this Code. Article 807 Civil Code
The forced heirs are entitled to 2 thirds of the hereditary estate of the parents , which we would call the legitimate portion.
One of those two thirds can be used to improve the lives of their children, and the remaining third will be freely available.
However, it is possible that there are no forced heirs.
In this case, Article 763 of the Civil Code will apply , which states that any person who has the capacity to acquire them may inherit them.
And, in the event that there were no other type of heir, we would have to resort to article 764 of the Civil Code , fulfilling the testamentary provisions made in accordance with the laws.
What does inheritance in Spain consist of?
The assets, rights and obligations of a deceased person will be distributed to his or her heirs as follows:
- Two thirds of the total estate, composed of the third of legitimate and the third of improvement, will be assigned to the closest relatives, known as "forced heirs."
- The remaining third, called free disposal third, may be allocated to any other beneficiary, as long as this has been specified in the deceased's will.
How is an inheritance accepted?
Acceptance of an inheritance can be carried out in two different ways:
- Simple Acceptance: In this case, the heir accepts all the assets, rights and obligations of the deceased as they are.
- Acceptance for the Benefit of Inventory (according to article 1010 of the Civil Code): Under this modality, the heir does not assume responsibility for debts that exceed the value of the deceased's inheritance. In other words, the heir is only responsible for the debts of the deceased up to the limit of the estate. The debts of the inheritance do not affect the personal assets of the heir.
How is an inheritance accepted for the benefit of inventory?
The fundamental purpose of the benefit of inventory lies in safeguarding the heir's assets.
Consequently, when accepting an inheritance with the benefit of inventory, liability for the debts of the estate is limited exclusively to the inherited assets and rights ; it will never extend beyond this, guaranteeing the protection of the heir's personal assets.
To carry out the acceptance of the inheritance with the benefit of inventory, it is necessary to make a declaration before a Notary or, in the case that the beneficiary is abroad, before a diplomatic or consular Agent of Spain who is authorized to perform notarial functions abroad.
The right to inventory benefit is subject to a certain period:
- If the heir already owns the inheritance or a part of it her, You have 30 days to notify the Notary of the creation of the inventory, with the summons of creditors and legatees.
- If the heir does not have the inheritance or part of it in his possession, and has not taken any action as an heir, The 30-day period begins on the day following the expiration of the deadline that the Notary has established at the request of any person interested in the inheritance. so that the heir can accept or reject the inheritance.
In cases other than those mentioned in the two previous sections, and provided that no claim has been filed against the heir, he may choose acceptance for the benefit of inventory or with the right to deliberate, as long as the period has not elapsed. of prescription to claim the inheritance.
Once the declaration of acceptance of the inheritance with benefit of inventory has been made before the competent Notary , within 30 days after the summons of the creditors and legatees, a complete and accurate inventory of all the inherited assets, rights and obligations will be prepared, including their corresponding economic valuation.
The inventory will be considered completed within 60 days, unless the Notary determines the need to extend it, in which case it may be extended up to a maximum of one year.
How and where can I find out if I have been left an inheritance?
To determine your right to inherit from a deceased person, you will first need to obtain the death certificate or record of the person from whom you believe you may inherit.
Then, you must request a certificate of last will and testament from the General Registry of Last Wills and Testaments , which will tell you if the deceased person left a will, before which notary and on what date it was granted.
You can also delegate this consultation and procedure to your trusted notary.
With this information in hand, you can go to the appropriate notary to obtain a copy of the will if you are mentioned in it as a beneficiary or if the law recognizes your right to inherit from the deceased person.
If the certificate from the General Registry of Last Wills indicates that there is no will, you must consult a competent notary to carry out the declaration of intestate heirs.
In essence, competent notaries will be those who have jurisdiction in the place where the deceased had his habitual residence, where he owned the majority of his assets, the place of his death or in a district adjacent to any of these.
How to claim your part of the inheritance?
In Spain, it is established that the individuals entitled to claim an inheritance are those named in the will or those who can prove their relationship in accordance with the hierarchy established in article 807 of the Civil Code , known as " intestate heirs ".
- The first place that we find in this hierarchy are the children, and in their absence, grandchildren.
- On the second level the Parents and, if they are not present, grandparents.
Both biological and adoptive relatives are eligible under these categories.
- the third place is reserved for the surviving spouse of the deceased, And in the Fourth place goes to brothers and nephews.
From there, other collateral relatives are included up to the fourth degree of consanguinity, such as cousins and great-nephews.
In the event that there is no heir in the previous categories who wishes to claim the inheritance, or if it is rejected, the assets of the deceased will pass to the State.
How to claim your share of the inheritance: Complete Guide
Inheritance is a delicate legal and financial topic that can generate intense emotions and legal complexities.
When a loved one passes away and you want to claim your share of the inheritance, it is crucial to understand the process and take appropriate steps.
In this complete guide, we will provide you with a step-by-step overview of how to claim your inheritance effectively and smoothly.
Step 1: Obtain a copy of the will or identify the legal situation
Before starting the process of claiming inheritance, it is important to have a clear understanding of the legal situation.
If there is a will, be sure to obtain a copy and review it.
The will details how the deceased's assets will be distributed.
If there is no will, intestate succession laws will apply.
Step 2: Identify Heirs and Legatees
It is essential to identify heirs and legatees, that is, people who have the right to inherit according to the will or law.
This may require researching and gathering information about family members and people mentioned in the will.
Step 3: Process the Necessary Legal Documents
The next step involves collecting and processing the necessary legal documents.
This may include death certificates, birth certificates, identification documents, and any other documents required by legal authorities to verify the identity and relationship to the deceased.
Step 4: Communicate with the Executor or Notary
If the deceased named an executor in their will, contact that person.
The executor is responsible for administering the estate and distributing assets according to the instructions in the will.
In the absence of a designated executor, you must contact the notary in charge of the probate process.
Step 5: Evaluate and Value Assets and Debts
Before proceeding with the distribution of the inheritance, it is essential to carry out an evaluation of the assets and debts of the deceased.
This involves identifying assets such as property, bank accounts, investments and liabilities such as loans, mortgages and outstanding debts.
Step 6: Resolve Possible Conflicts or Claims
In some situations, conflicts may arise between heirs or third-party claims may be filed.
It is important to address these issues appropriately and, if necessary, seek mediation or legal advice.
Step 7: Distribute the Inheritance
Once all legal and financial matters and potential disputes have been resolved, it is time to distribute the inheritance according to the instructions of the will or the laws of intestate succession.
Make sure this process is carried out following applicable legal regulations.
Step 8: Comply with Tax Obligations
The inheritance may be subject to taxes.
Make sure you comply with the relevant tax obligations and file the required declarations with the tax authorities.
Step 9: Keep a Detailed Record
Keep a detailed record of all transactions and decisions related to the inheritance.
This can be useful for future reference and to demonstrate that you have acted transparently and legally.
Step 10: Legal and Professional Advice
Remember that claiming an inheritance can be a complicated and potentially contentious process.
In many cases, it is highly recommended to seek the advice of a lawyer specializing in probate law, such as RRYP Global, to ensure that all steps are followed legally and effectively.
In short, claiming your share of an inheritance requires a meticulous approach and understanding of the legal and financial aspects involved.
By following these steps and considering legal advice, you can facilitate the process and ensure that you receive your share of the inheritance fairly.
RRYP Global , expert lawyers in Family Law.
