Inheritances and Wills

Inheritance in Spain: Procedure and Types of Inheritances

Introduction

Inheritance in Spain is a crucial legal process for transferring assets, rights, and obligations following a person's death. This article provides a comprehensive guide on the inheritance procedure in Spain, the types of inheritances, and the necessary procedures.

Inheritance Procedure in Spain

Declaration of Heirs

• Testamentary: If the deceased left a will, their expressed wishes will be honored, whether it is a holographic will (handwritten), an open will (before a notary), or a closed will.

• Intestate: In the absence of a will, the legal succession order established by law is followed, prioritizing descendants, ancestors, spouse, and other relatives.

Necessary Certificates

• Death Certificate: Obtained from the Civil Registry.

• Certificate of Last Wills: Indicates if the deceased left a will and, if so, before which notary.

• Certificate of Life Insurance: To determine if any insurance policies were taken out.

Inventory and Valuation of Assets

• Identification of Assets and Liabilities: Includes real estate, bank accounts, vehicles, debts, etc.

• Valuation of Assets: May require the involvement of appraisers and experts.

Acceptance of Inheritance

• Pure and Simple: The heir accepts both the assets and the debts of the deceased.

• Beneficiary Inventory: The heir accepts the inheritance, limiting their responsibility to the inherited assets, without jeopardizing their personal assets.

Inheritance Tax

• Declaration and Payment: Must be filed with the relevant autonomous community within six months of the death. The amount varies depending on the region and the heir's relationship to the deceased.

Partition of the Inheritance

• Distribution of Assets: Carried out according to the will or, in the absence of one, according to the law.

• Public Deed: For real estate, formalization before a notary is required.

Types of Inheritances

• Testate Inheritance

  • Open Will: Made before a notary, provides greater legal security.

  • Holographic Will: Handwritten by the testator, requires judicial validation.

  • Closed Will: Delivered to a notary in a sealed envelope, its contents are revealed after the testator's death.

• Intestate Inheritance

  • Legal Succession: Applied when there is no will, following the succession order of the Civil Code.

  • Regional Law: In autonomous communities like Navarra, Aragón, and the Basque Country, there are specific regulations that may alter the general succession order.

• Inheritance with Benefit of Inventory

  • Limitation of Liability: Allows the heir to accept the inheritance without assuming debts beyond the value of the inherited assets.

Legal Procedures and Recommendations

• Consult with a Lawyer: It is advisable to seek legal advice to meet all requirements and avoid future problems.

• Notary: Their involvement is crucial for validating wills and formalizing the distribution of assets.

• Managers and Experts: May be needed for asset valuation and tax processing.

Conclusion

The inheritance process in Spain is complex and requires compliance with various legal and fiscal regulations. Being well-informed and having professional assistance can prevent disputes among heirs and ensure that the deceased's wishes are properly honored. If you need help with inheritance procedures, wills, or any other legal matters, do not hesitate to contact our experts.