When a close relative dies, his heirs faces not only the loss, but to countless procedures and payments such as burial expenses or Inheritance tax. In the latter, some deductions can be applied that will allow the heirs to pay less taxes, including those derived from the funeral.
This was made by the lawyer specialized in inheritance Irene Gramage, through a video in her social networks ‘inheritance’. “The funeral, you can deduct it from the Inheritance Tax in the inheritance. Thus, if you go to pay the tax, you will pay you less,” he explained.
You may be interested
María Cristina Clemente, notary: “Even if you get married in goods, the spouse always inherits a part of your inheritance”
Gonzalo Bernardos (62 years old), economist, speaks clear of the Inheritance Tax: “The dead or receives nothing, it is the descendants who receive a great gift, because they have not generated the heritage”
This possibility is regulated in article 14 of the Law 29/1987, of December 18, of the Tax on Inheritance and Donations, which points out that the expenses of the latest disease, as well as those of the burial and funeral, can be subtracted from the tax base. Of course, to be accepted by the Administration, they must be properly justified with invoices or documents and, in addition, the funeral expenses cannot be disproportionate to the value of the inheritance or overcome what is usually common in the town.
Other deductions that heirs can apply in the Inheritance Tax
In addition to being able to deduce the expenses of the funeral, that same law establishes that the heirs can also deduce loads and debts of the deceased.
According to article 12 of the Law, only those charges that are directly established on the goods can be deducted and actually reduce their value.
This group includes, for example, censuses or pensions linked to a property. On the other hand, the personal obligations of the heirs or the guarantees such as mortgages or garments are not considered deductible, since these do not decrease the value of the transmitted asset. In those cases, what can be deduced is the debt guaranteed by the mortgage, provided that it meets the legal requirements.
For its part, article 13 regulates the deduction of the debts of the deceased, that is, those that the deceased person left pending in life. These may be subtracted from the value of the inheritance, provided that they are accredited by public document, valid private document or any other evidence admitted in law.
Of course, the law excludes the debts contracted in favor of direct heirs, legatees or family members, even if they renounce the inheritance. In addition, the administration may demand that they be ratified in a public document with the appearance of the creditor.
The deductible debts expressly include the amounts owed by the deceased for state, autonomic or local taxes, as well as debts with social security, although the liquidations are turned after death.