The moment of making an inheritance is always a highly sensitive issue that can generate certain problems in the future. So much so that it is, without a doubt, one of the most recurring conflicts within civil law. Therefore, it is necessary to review the most common mistakes that are usually made when processing an inheritance to try to correct them and not fall into the same problems that others have fallen into, generating a considerable negative impact on the heirs.
Among the errors, there are some that generate more problems for the heirs than others. The fiscal and financial aspect is essential to always keep in mind. Therefore, in the Inheritance Tax section, it should be known that there is a term, and that this is six months from the day of death. Although it is true that there is an extension of an additional six months, but it must be requested during the first term. Thus, things, this is a fundamental aspect to solve the tax aspect.
On the other hand, the aspect of debts is also frequent and it is necessary to know it in detail. The first thing of all is to be sure that the debts are inherited. When the heirs accept the inheritance, they also accept the debts associated with them. Therefore, there is the possibility of renouncing the inheritance, which is equivalent to not having to pay Inheritance Tax and no debt, but the assets that appear in the will would not be inherited either.
One of the biggest mistakes is in the way of processing, so it is always advisable to hire an expert inheritance lawyer. And it is that, in Spain the normative particularities of the Autonomous Communities prevail over civil law. Therefore, it is highly advisable to have a specialist to avoid incurring in possible civil irregularities that pose a future problem.
At the same time, a bad wording of the inheritance can mean its annulment, with all the problems that this entails. Therefore, the most advisable thing at this point is to detail everything as much as possible and taking into account the regional regulations of where you reside and where the assets are owned. In addition, it is also advisable to leave in writing the distribution of objects of sentimental value, which do not have to have an economic value. Since many times it usually generates a certain confrontation between descendants not knowing what to do with family objects that have a great sentimental charge.
Regarding the form, it is also worth mentioning that the version that prevails is always the one that appears in the Registry of Last Will Acts. In other words, if you want to make changes to the first testament, you must resend it to the aforementioned registry so that the latest version is the one that prevails.
Although it is not mandatory, having an executor, or better two or three, is highly recommended. It is a figure of confidence so that the last wills are fulfilled and conflicts are avoided. In this way, in case there are problems with the distribution, the executor will be the one who can mediate and determine how the inheritance is distributed, if due to lack of detail it generates a conflict.
In addition, the executor is a free charge, which does not imply a major expense, unless the payment of some amount is left in writing voluntarily. Although, you can recover the expenses incurred by fulfilling your duties as executor, such as travel or working hours. It is also good to mention that the executor can be one of the heirs or not. Sometimes it can be a friend or someone in the family environment who is not going to inherit anything.
This being the case, these are some of the most common errors when processing an inheritance and that generate an endless number of subsequent conflicts, which can be remedied. As a last recommendation, it is usually requested that a copy of the original or the last valid will be kept somewhere that the heirs know, since if the document is not accessible, a series of problems are generated that would force additional procedures to be carried out. .
