Family housing is usually one of the most common goods that can be found within an inheritance. The usual thing is that the brothers end up selling the inherited house having to pay in this way imposed for the profit that has been obtained, among others. For this motivOr a tax advisor recommends that parents do not wait to leave their children in inheritance, and provides a solution with which they can save taxes to their descendants in the future and create generational wealth.
The @Martafintips advisor has explained through its social networks a possible solution so that children can save some taxes. To do this, it proposes that parents give their children the nuda owned by housing, leaving the right to the life usufruct of good.
These figures are very common in the successions, and consists in the fact that the parents remain with the right of usufruct, that is, the use and enjoyment of good until the death, and donate their children will have the property, that is, ownership of the same but not the right of use. But what are the advantages and disadvantages of doing so?
Advantages and disadvantages of donation of the nuda property with life usufruct
Opting for the donation of the nuda owned with a lifetime usufruct has a series of advantages and disadvantages that must be taken into account before making the decision. It is convenient to keep in mind that, although It can mean certain tax benefits in some cases, It will depend largely on each particular situation, so it is convenient to study it in detail and advise with a professional.
From the specialized website ‘Guide nuda property’, they explain What are the advantages and disadvantages of donating the property and keeping the life usufruct.
Advantages of donating the property
- Flexibility for the parts: This donation will allow the usufructuary (in this case parents) continue using good.
- Avoid payment of the Inheritance Tax: Savings will depend largely on the Autonomous Community in which it is taxed, but in some cases the life in life can mean savings of taxes compared to the amount to be paid later by the succession.
- Greater freedom: The fact that making a donation in life means being able to decide who will be the recipient of the good is highlighted. In the case of waiting to do so when it dies, certain restrictions established by law in relation to inheritances will be had.
Disadvantages of donating the property
- Taxes to pay for the donation: Donations also have to pay taxes, for the donation tax and municipal surplus value. In some cases the payment of the same could be a greater amount than what should be paid if it is expected to inherit, so it would be necessary to evaluate it in each case.
- Additional costs: Making a donation can also mean professional advice, so the expenses to be paid in the case of needing a lawyer, and other cats associated with it such as the Notary should be considered.
- Lower legal protection: In the case of donations, experts point out that legal protection for donors is lower, in case of disputes and conflicts, than the case of being an heir. However, they point out that it is still a safe operation.