Each family is a world and each inheritance too... but the problems tend to repeat themselves. From unclear wills to apartments that are shared in halves, headaches can always arise, although planning and making things clear with a will avoids it.
"In inheritances, it is when the family is known, entrenched issues come to light and if they are not well distributed, problems arise," says Leonardo Cárdenas, founding partner of AGM Abogados. The distribution of real estate usually brings a queue. Especially when the right of a floor is divided among several, the figure of the undivided property. A solution that he recommends avoiding. Thus, even if there are three children and two apartments, it is better to leave housing for two and compensate the other "by assigning other assets," he says. The undivided property “is a source of conflicts. It can lead to disputes over use or in which one wants to sell and another does not in cases of need”, adds Abel Marín Riaguas, founding partner of Marín.
With money, since it can be divided without major problems, everything is easier. In illiquid assets, such as shares of unlisted companies, or difficult to use, such as dilapidated houses in rural areas, the advice goes through to see the obligations that may entail in the future and if it is better to resign.
Live deals can also be problematic. "They could have to be assessed later in the allocation of the legitimate inheritance, in case they are collatable (which have to be brought to memory) or not and if others have to be compensated for having already received something," says Cárdenas. Therefore, if a mother gives her son one of the family houses while she is alive or if a father gives money to her daughter to buy a flat, the ideal is to have a public deed made.
Another of the great pains comes from taxes. Surprisingly, more than for inheritance and donations, for municipal capital gains when inheriting a home. “It is often a high tax. Especially in large provincial capitals and cities where the cadastral value of homes is high”, explains Ernesto Rivera, founding partner at Heritae. Not being able to pay the tax bill leads to a dead end: it hinders the sale that would allow the tax to be covered, because if the taxes are not settled, or the settlement is not communicated in the case of capital gains, it cannot be registered in the name of the heir in The property registration. "And selling a flat without being registered is difficult," says Rivera. One way out could be to apply for a loan, collect a down payment from a potential interested party to pay, or for the deceased to have inheritance insurance, he says. Marín also calls for a review of tax rebates, such as those applied to the habitual residence of the deceased, and to exhaust the deadlines and extensions that are allowed by law to have more margin to resolve the mess.
Taxes are, likewise, a fundamental factor in inheritances from more distant relatives or friends, where the multiples of the tax calculation skyrocket and the bill increases. "First you have to do numbers to see if it's convenient, in the end it's as if you bought the good," says Marín.
Hidden debts are another sour point in deals. Pending amounts with creditors, with the Administration, various pending accounts... Whoever inherits assets also inherits responsibilities. For this reason, in delicate cases it is recommended to accept it for the benefit of inventory. With this mechanism, inherited assets respond to debts until exhausted, without entering the heir's estate. What is left, if there is anything left, is awarded to him. “It is a way to protect your previous assets, but it has stricter deadlines to communicate it,” says Rivera. “At most you will pay for what is assumed in the inheritance. No more”, says Cárdenas.
Making a will ends up being the best way out. "It allows you to leave freely what is considered," argues Cárdenas. He supposes to go to the notary and part from about 50 euros. Marín advises doing it "based on future cases", not so much with the current situation: if the children will be parents, the professional career they will have, their properties... "And change it as many times as life changes", he points out. The more detailed, the less room for conflict is left. "He manages to reduce the discussion between heirs," Rivera agrees. About the ideal time to do it, there is no exact age. It is recommended when you already have a formalized partner, children, debts or when you already begin to accumulate assets, such as housing.
