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Firmalex > Inheritance in Spain > 5 benefits of living donation versus inheritance

Inheritance can be a real problem, especially when arguments and quarrels arise between family members. Hence the need to think things through in good time.

In these situations, the following question is bound to arise: is it better to make a living donation or to leave an inheritance?

Most people usually opt for a bequest or inheritance, both options have to be included in the will.

However, there is the possibility of lifetime donations. Here are the 5 main advantages of this option.

1.- What you donate can return to your estate

One of the main benefits is that you can reserve the right for the donated asset to return to your property if you deem it appropriate.

In other words, a donation does not necessarily mean that you have to part with the asset permanently.

An example is that of parents who donate a house to their children. They can include a clause whereby the property reverts to their ownership after a few years.

2.- You have the option of imposing terms and conditions

Another advantage is that you can impose certain conditions on the beneficiaries. Above all, in terms of terms and conditions.

For example, you can donate the property only when the donee reaches the age of majority. Or there may even be clauses to make the donation when the future beneficiary is going to get married or study a certain career.

If these clauses are breached, the donee will not receive the property.

3.- There will be no quarrels when dividing your assets

When a person dies, arguments and quarrels often arise between the heirs. Disagreement in these circumstances is common, and then the courts must intervene to clarify to whom certain assets belong.

However, with a living donation there are no doubts, as you will give what you want to the person you want, and you will be able to see how they enjoy it.

4.- You will help loved ones at this time

You don’t have to wait until your death for your family or loved ones to receive the help they need.

If you have loved ones in financial difficulty, a donation is the best way to lend them a hand.

The advantage is that the donation can be made at any time you wish, always respecting the legal channels.

An example would be a father who donates a house to his son because he cannot afford to pay a mortgage.

5.- Tax benefits for donees

Recipients will enjoy tax benefits if the process is carried out through the relevant legal channels.

This is the case if they receive, for example, a sole proprietorship, a donation of money or shares in a company. However, the degree of kinship must be that of a descendant of the donor.

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