Inheritance is a topic that, sooner or later, affects us all. Whether as heirs, legatees or executors, we must be prepared for what may happen. There are people who like to leave everything tied up in advance, while others prefer not to know anything about wills before death occurs. What is more recommended? In this new blog entry from LVG Legal, a law firm with offices in Madrid, Ourense and Monforte , we give you the answer.
Advantages of leaving the inheritance ready before death
There are several reasons why expert family law attorneys advise settling the inheritance before death. First of all, it allows us to avoid future conflicts between heirs. If the inheritance is well planned, all heirs will be happy with the distribution of assets.
Likewise, it allows us to save time and money . The process of adjudicating an inheritance is usually long and expensive, especially if there is no will. If the inheritance is already distributed, this process is greatly simplified.
Finally, it allows us to take advantage of the tax advantages of inheritance . If the inheritance is distributed before death, the heirs can benefit from the tax reductions established by law.
In summary, arranging the inheritance in advance is positive for both the testator and his heirs.
For the testator:
- Tranquillity. The testator can rest easy knowing that his assets will be distributed according to his wishes once he passes away.
- Flexibility. The testator can dispose of his assets in any way he wishes, within the limits established by law. This allows you to tailor the inheritance to your particular needs and circumstances.
For heirs:
- Security. Heirs know from the beginning what assets they will inherit and in what proportion. This allows them to plan their future with greater certainty.
- Saving. The inheritance distribution process can be costly, both in terms of time and money. If there is a will, the process is usually simpler and faster, which can save costs for heirs.
- Harmony. The living will can help avoid conflicts between heirs, as it clearly establishes the will of the testator.
Request a consultation with our expert inheritance lawyers
In any case, it is important to consult with an inheritance lawyer to advise us on the best option for our specific case.
At LVG Legal we are experts in family law, so we can help you plan your inheritance and resolve any problems that may arise in the adjudication process. Contact us for more information.