Receiving an inheritance always seems like a blessing, but opting for the material and monetary assets of the person who dies can be a poisoned gift for the heirs. Sometimes, managing an inheritance is a serious headache for the beneficiaries who are in the will. There are errors that are repeated on a regular basis when carrying out a correct management of inheritances or, simply, also when proceeding with their execution. Experts compile some of these serious failures that if not detected can lead to relevant problems for the heirs.
What are the most common mistakes when managing an inheritance?
Not knowing the term to pay the corresponding taxes. Inheritance tax is often a mystery to many people when it comes to settlement time. At this point it should be noted that the term to pay this tax is 6 months from the death of the person on whom it is inherited. The only way not to proceed with the payment of this tax is the waiver by the heirs of their own inheritance. From here, the management of an inheritance must be an agile process and requires attention.
The cast. If there is no valid and correctly processed will prior to the death of the deceased, it is convenient to know first-hand the way in which an inheritance is distributed. The regulations provide that in case of forced inheritance, the distribution is established on a third of the total inheritance among the heirs.
Donations go to inheritances. To avoid falling into this error, it is convenient to investigate and study article 1035 of the Civil Code well. In this way, you will be able to properly inform yourself about what steps to take in case this is your case.
Not having professional advice. To prevent the fact that you do not commit all these mistakes explained here, it is essential to have expert specialized support. Professionals have exponential experience when it comes to managing an inheritance. For this reason, it will be able to provide you with the best advice and solutions so that the process is comfortable, simple and care of subsequent problems for the heirs. At this point, and counting on the fact that the death of a family member that causes this situation is always a hard and complicated moment, having someone to shed light in this type of context is always appreciated. For this reason, and for what may happen, always contact a manager, lawyer or expert in these procedures.
If I receive an inheritance, do I keep the debts?
Apart from the frequent errors mentioned in the previous points, it should be remembered that whoever receives an inheritance also receives the debts of the deceased in case they exist. Many people do not know this detail and it often poses a serious problem for the heir. It is convenient to carefully study the assets to be received from an inheritance, but also the debts and their problems. For this reason, it is advisable to carry out an accurate inventory of both the assets and the liabilities that are transmitted in order to decide whether or not it will be interesting to receive the inheritance in question. The only way to get out of a debt in case of inheriting it, is to renounce the inheritance.
With all these errors exposed here, it is worth concluding that managing an inheritance is a process that should be treated with calm, professional help and calculation in each of the steps. Get advice in the best way and always consult information through reliable sources to know the law in this regard.
