if there is a A controversial tax that many people don’t understand is the estate tax. For much of Spanish society, paying an inheritance to the treasury to inherit property left to you after the death of a loved one is a difficult thing to understand.
However, if there is any reason Many people decide to refuse inheritance because they do not have to bear the debts of the deceased. Is there any way to inherit without repaying the debt owed by the deceased?
If we don’t want to reject inheritance, There is a way to avoid assuming debts of a deceased person. This way, all debts do not have to be repaid, which is a very interesting option for heirs.
protect heirs
Stock inheritance is a legal mechanism used in the field of inheritance. This is done to limit the liability of the heirs for the debt and the obligations left behind by the deceased.
By choosing this inheritance method, Heirs limit their liability for inherited assets without damaging their personal assets. When a person dies, he or she leaves behind a collection of assets and debts.
Probate allows heirs to receive inheritance up to the amount of the deceased’s assets. This legal figure provided valuable protection to heirs By limiting your financial responsibility.
Therefore, heirs are not obligated to use their own personal assets to pay off debts that exceed the value of the inherited assets. If debts exceed assets, heirs are not obligated to make up the difference with their own assets.
steps to follow
- Declaration before a notary: To accept an inheritance, it must be formally declared before a notary to protect yourself from the debts and financial problems of the deceased.
- 30 days period: You have 30 days to notify the notary of your decision. If you already own part or all of the estate, or are an heir, the period starts from that moment.
- Notarized list: During these 30 days, the notary conducts a formal inventory of assets and debts in the presence of possible creditors.