Receiving an inheritance can be a long and complex process, and many testators or heirs begin to look for legal tricks with which to save money. Faced with this constant search for traps, many internet gurus have begun to spread hoaxes, claiming that, for example, inheritance tax can be avoided by including a supposed clause in the will.
For this reason, many lawyers and notaries specialized in inheritances have wanted deny this type of false information and warn of the consequences that this type of fraudulent practices, such as undervaluing assets to avoid paying personal income tax or inheritance tax, can affect those who carry it out or their successors. Well, it may be that when they go to accept it, they will find that they have to pay more than what they are going to receive.
You cannot avoid paying Inheritance Tax through a donation
Among the experts who have wanted to raise their voices to prevent citizens from making these types of mistakes, the family and inheritance lawyer, Laura Finger Wolfhas explained the impossibility of avoiding the payment of inheritance tax. “On the Internet you will find things like: ‘Do not pay the inheritance tax by donating the usufructFor example”.
Although many so-called experts on social networks recommend these types of practices to avoid paying this tax, the truth is that this tax obligation is only being delayed. “That’s stupid because what you’re doing is breaking it up.; You are not avoiding it, you are paying for it on the one hand while you are alive and then, when you die, through consolidation,” he explains.
Therefore, instead of avoiding facing this expense, the only thing that is being done is defer tax burden until after the death of the deceased. Likewise, in donations you also have to pay the Inheritance and Donation Tax, as well as the municipal capital gain and the Personal income tax (IRPF).
Nor can one avoid paying this tribute with testamentary clauses.
Another of the most widespread hoaxes is the possibility of add a clause in the will to avoid paying inheritance tax. However, the lawyer remembers that this tax must always be paid. “You’re going to eat it anyway. You can’t avoid paying a tax, the law is made so that you pay it“says Laura Lobo del Dedo.
To lighten this burden, What the lawyer recommends is “optimize it”That is, planning the will and receiving advice from an expert to speed up the process and involve the least amount of time and expense for the heirs. Among the most effective methods are the bonuses and reductions of said tax.
Most common cases of bonuses and reductions on this tax
“The inheritance taxis a series of bonuses and reductionsas a family home or as a company, for example.” And, as lawyer David Jiménez already commented, family businesses have reductions that are usually between 95 and 99%. Therefore, achieving this condition in a company guarantees that the heirs can receive it practically free.
Regarding family homes, a 95% reduction in the event that the property was the habitual residence of the deceasedwith a limit for each taxable person of 122,606.47 euros. To do this, it will be necessary for the forced heirs to have lived with the testator for at least two years prior to his death and must maintain it for the following 10 years.
The best advice from experts to avoid unforeseen expenses and long inheritance acceptance processes is, without a doubt, planning. To do this, it will be necessary to go to a specialized professional, who will advise on the more efficient clauses when it comes to avoiding family conflicts and will study the nature of the assets and assets to guarantee a fair, equitable and, above all, in accordance with what is established by law.