There is a widespread belief that it is okay if, when our parents or relatives pass away, we leave everything untouched for five years, thinking that this means cost savings. This is not the case.
Inheritance must be done in the same way. Over the years, it does not make itself. The alleged cost savings would only refer to the Inheritance Tax, which would no longer be paid due to the expiration of the legal statute of limitations. And in reality, in 95% of inheritances, such tax is not paid, since the first 100,000 euros per heir are exempted. This means that in a family of three siblings, 300,000 euros plus the portion corresponding to the widowed spouse would be exempt.
Added to this are the inconveniences derived from “not arranging the papers”: the bank can and must block our accounts, we cannot sell any property during that period, one or more heirs may die, passing the difficulties of a partition to the next generation, the favorable tax legislation that now exists may change during those years, etc.
In conclusion, we must arrange the inheritance upon the death of our relatives: we will avoid the many inconveniences of not doing so and we will be sure to enjoy all the advantages that the current legislation provides us with.
