- We must ensure that with the inheritance no loans or other charges come.
- You have to take into account linked taxes, such as inheritance taxes.
- There are Patrimonial Societies that allow saving the financial expenses that the inheritance tax supposes.
In addition to the emotional damage caused by the loss of a loved one, the blow can be harder if we accept an inheritance that carries with it some obligations that harm us or when we know the amount that we must pay to the Treasury to receive the inheritance.
mortgages or other burdens is what we must watch out for that do not come as a gift along with other goods or rights that we are interested in receiving. Therefore, more than one hands to the head when he finds out about the inheritance that they have left him.
Another thing that must be taken into account when accepting the inheritance is the linked taxes, since receiving, for example, a property entails making the payment to the Treasury of the inheritance tax to be able to receive the house.
Avoid leaving debts too
One of the major problems that some Spanish families are finding in these times of crisis is that they receive a home as a legacy and little cash. If we add to this that the family that is going through a time of little liquidity have to look for the beans to be able to pay the Treasury and inherit the floor.
Currently, many people prefer to donate their property inter vivos and thus help pay the heirs the taxes or avoid leaving as a legacy the debts to their children.
There are also Patrimonial Societies that allow saving the financial expenses that the inheritance tax supposes, this way is usually used for people with important patrimonies.
Types of taxes
Depending on the moment in which the goods are delivered there are two types of taxes :
- Inheritance tax: the inheritance is delivered by mortis causa, that is when the donee dies. It is a direct, personal, subjective and progressive tax that taxes the patrimonial increases free of charge. The taxpayers are the heirs or legatees.
- Donations tax: the goods are delivered inter vivos, that is, in life. It is, like the previous one, a direct, personal, subjective and progressive tax that imposes gratuitous increases of patrimony. The taxpayer is the donee or the favored.
In the case of donation, the donee pays part of the tax, therefore, he gives the net patrimony to his relatives, facilitating the reception of this one. If it is delivered in mortise causa the problem may be that the heirs do not have money to pay the tax to the Treasury.
The tax rate varies depending on the Autonomous Community where the donation or succession is made and the taxable base that is levied.
What to do to pay the tax mortise causa?
If the donee finally decides to deliver their goods after the vita, the heirs must pay to the Treasury the inheritance tax to be able to receive their legacy.
If the family unit that receives the inheritance has the liquidity to pay the tax, it will not have problems to face the expense and receive the inheritance.
But in the case of a family whose financial situation is delicate and can not assume the payment of the tax due to lack of liquidity and want to receive their inheritance, they must resort to an external financing source.
They have two alternatives to finance themselves:
1. Mortgage the house that will be inherited, if you do not have a free of charge, to be able to obtain financing for the amount to which the payment of the tax amounts.
2. Request a personal loan that covers the amount of the tax, this option can be more difficult, since if the family has a delicate financial situation it will be difficult to find a financial institution that grants the loan- Payday Champion.
When the family has a delicate financial situation it will be more difficult for them to grant a loan, therefore, the most feasible is to mortgage a home as a guarantee to achieve the necessary liquidity.