Have you ever been in the situation of receiving an inheritance or a gift? Sometimes, there are family assets that you want to keep forever, but what is better: to receive a donation while the owner of the asset is still alive, or to inherit it after his death? In today’s post we tell you what an inheritance and a donation are and which option is better for you. Keep reading and find out all about it!
What is an inheritance?
It is a set of assets, but also rights and obligations, which are acquired after the death of its previous owner.
What is a donation?
A donation is a contract by which an asset is transferred free of charge from one person to another. Even so, in donations there is what is known as the usufruct of what is donated. That is to say, the person who transfers the property may reserve the right to use it for a period of time or until his death. In this way, the donee only receives the property after the death of the donor.
What are the differences between an inheritance and a donation?
The main difference between the two is that in order to receive a donation it is necessary for the owner to die. Therefore, we understand that a donation may be suitable for those who are not in a hurry to receive an asset.
In addition, this option will have advantages for the testator as he/she will not have to pay taxes during his/her lifetime.
Which option is better?
The donation will always be better if the objective is to benefit some heirs more than others. In addition, inheritance requires the existence of a document called a will, which can be modified as many times as desired. On the other hand, the donation will be irreversible, once it has been made, it will not be possible to recover the donated property.
Remember that you can contact us to solve your legal doubts in Spain.
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