Is it possible to reject an inheritance in Spain?
Yes, as an heir you have the right to reject your inheritance. We can help and advise you on the process. Once rejected the rejection is final, you cannot change your mind, so you must be certain you want to reject an inheritance.
If you want to reject an inheritance, call us now and we will be happy to assist you and advise you on all its implications. We could also manage the process thanks to our connections with Spanish notaries.
Why would someone want to reject an inheritance?
Inheritance rejection is relatively common within the Spanish probate process. The main reasons for doing so are related to debts. When you accept an inheritance, you also accept the liability for the debts that the deceased may have had. Because of this, if the debts are bigger in value than the assets, or when paying such debts becomes too complicated, people may prefer to reject the inheritance.
Other common reasons are to avoid paying the succession taxes, or to allow other people in the family to receive the inheritance. The UK Probate process has a different process because it uses the Deed of Variation. Lastly, it is also possible for someone with a lot of debts to reject the inheritance to avoid the creditors recovering their money. However, in this last case, the creditors may take legal action and rejecting the inheritance may be not possible. Actually, if the rejection harms third-party interests, after the rejection the creditors may still have the right to receive part of the inheritance in order to pay the debt, and once this is paid, if there is still remaining inheritance, it will pass to the other heirs because you rejected your part. So be extremely careful with this decision.
As you can see, there are many aspects to think about when accepting or rejecting an inheritance. If you have any doubts or want help with the Spanish probate, contact us right now!
Is there any alternative if there are debts?
Heirs can accept the inheritance under a condition known as benefit of inventory (beneficio de inventario) this means that the creditors will receive compensation for the debts, and then the heirs will receive the additional part of the inheritance once the debts are paid.
Deciding whether to accept under the benefit of inventory or reject depends on your personal situation and preferences. The first thing you need is a full understanding of its consequences. If you want to make a well-informed decision and take advantage of legal advice, contact us now and we will help you with the whole Spanish probate.
When can I reject the inheritance?
In principle, there is not a specific period, but since probate can be long and the heirs need to pay succession taxes, it is not recommended to wait long. If there is a court procedure related to the inheritance, then the judge can state a specific term for rejections.
However, take into consideration that you cannot do it before the death.
If you feel everything is confusing, just call us now. We have experts in both the Spanish and UK legal systems that can help you with the entire process, documents and deadlines.