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When someone passes away, we often find ourselves not only dealing with an irreplaceable loss but also navigating through a world of bureaucracy and other matters of which we have little knowledge.
When it comes to inheritances, there are some common problems that arise in many of these processes.
Legitimate heirs
It may happen that the distribution of assets in the will does not comply with legal regulations.
Law always prevails over the will, and all heirs entitled to a share must be included in the distribution.
This involves recalculating assets and involving appraisers and lawyers to handle it. If there is no agreement, resorting to courts may be necessary.
The parts of an inheritance
An inheritance is divided into three parts, which are often unknown. These are the third of legitimate, the third of improvement and the third of free disposal.
The legitimate part is the part established by law for each heir, the improvement part is the part that can be allocated to one of them, and the last part is the part that can be distributed as desired.
Giving up an inheritance due to lack of liquidity
Sometimes, an inheritance is renounced due to lack of liquidity, although it does not have to be this way.
A solution could be to negotiate with someone for the purchase or accept the inheritance with benefit of inventory and donate to the other party with an agreement regarding taxes.
Problems related to undivided inheritances
When the same asset is inherited by several individuals who do not have a good relationship, there may be problems when trying to sell or distribute the profits.
A good solution is to seek advice from a specialist inheritance lawyer.
Usufructs
With usufruct, a person can use and enjoy the returns of the asset, although they are not entitled to freely dispose of it.
If this right is not well understood, the heirs may enter into conflict because they cannot use the asset they have received.
Opting for the benefit of inventory too late
When you accept the inheritance with benefit of inventory, you have a maximum period of 30 days to do so. If you miss this deadline, you will not be able to continue with the process.
Not requesting life insurance certificates
One thing that heirs usually do not take into account is the life insurance that the deceased may have had.
Insurance companies inform state agencies with a certificate that includes all the information about these policies. In this way, the heirs know if there is any insurance that affects the inheritance.
Delaying the settlement of community property
When one of the members of a marriage dies, it is usual for heirs to wait for the death of the other to distribute the community property.
It is highly advisable to check the assets that each member of the marriage has. This way, even if the distribution is postponed, all the information will be available and many problems will be avoided.
Not requesting bank statements
Currently, heirs have the possibility of checking the latest transactions in the deceased’s accounts. This allows them to know all the movements in the assets that may affect the inheritance.
In addition, heirs can request a report confirming if there have been any variations in the assets that exist at the time of death for the benefit of another person.
Not going to court when there is no agreement
Sometimes, despite efforts, an agreement cannot be reached for the distribution of inheritance assets.
In this situation, it is best to go to court for the division of the parts of the inheritance.
Conflict is not always unavoidable. This is a legal procedure that allows avoiding a major problem with conflict between the parties, the figure of the divisional accountant being necessary, with the expenses that it entails.
This error is one of the most common, since going to trial is a complicated issue.
Not accounting for expenses
In the event that there is no insurance that covers the expenses related to death, such as burial and funeral expenses, it is up to the heirs to cover them.
In this case, it is important to take them into account when distributing the inheritance assets. There are several common problems in inheritances that occur, in most cases, due to bad relationships or lack of knowledge. Everything related to the legitimate inheritance, the parts of the inheritance, usufructs and deadlines for accepting with benefit of inventory can be resolved by consulting professionals, as in the rest of the cases. Setting aside disputes and reaching an agreement should always be the best solution.
Further information
This article is part of our service Inheritance in Spain. Visit this section where you will find all the useful information on this topic, including a complete guide on Inheritance in Spain with a non-resident, expat or foreigner.
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