What does the Deed of Adjudication of Inheritance consist of?
For the execution of an inheritance, once the death of a person occurs, besides being a painful moment for the family, a procedure begins, which for tax purposes must be carried out within a period of less than 6 months, unless an extension is requested, which extends the time by another six months. We are faced with the situation that the inheritance can be testate or intestate.Testate Inheritance
Testate inheritance occurs when the decedent (the deceased person) has granted a will.Intestate Inheritance
Intestate inheritance occurs when the decedent has not granted a will, so another document must be signed that substitutes for its absence, which is called the Act of Declaration of Heirs. In this document, the notary identifies who the legal heirs are. Once this document is signed, the process is similar to testate inheritance.Required Documentation:
1.- Death certificate 2.- Certificate of last wills Once we have these two documents, in the case that a will has been granted, we go to the notary who granted it to request the authorized copy; otherwise, we use the document that substitutes it. 3.- We proceed to the signing of the public deed of adjudication of inheritance before a notary. In the event that the heirs only want to comply with the fiscal obligation to file the corresponding taxes, they can draft a private list of assets and proceed to the settlement of the inheritance taxes; these documents, in turn, serve to present them to financial institutions and dispose of balances in bank accounts, deposits, investment funds, life insurance, etc. 4.- The documentation that must be provided for the drafting of the deed of adjudication of inheritance or private list of assets is identical in both legal transactions:- a) National ID cards of the parties involved and their personal details.
- b) Bank balance certificates issued by the various financial institutions, which also include investment funds, deposits, shares, etc.
- c) Simple notes issued by the Property Registries that have territorial jurisdiction where the properties owned by the decedent are located.
- 犀利士5mg le="font-weight: 400;">d) Life insurance.
- e) Ownership of vehicles, motorcycles, boats.