Benjamin Franklin said: "In this world there are only two things for sure: death and paying taxes"; If the first thing happened - later we will talk about taxes - the death of a loved one, beyond the pain that this implies, also means a legal responsibility, that the things that said person owned, become the property of those who live , must receive them, always respecting the last will of the deceased and the current law.
The person who dies may have left a will with their wishes, in relation to their assets (the deceased, in that will, can only freely dispose of 25% of their assets), but more often than not, death has Arrived without prior notice, and we find ourselves in front of a group of assets, which are not the subject of a will and which must be distributed among the heirs, according to the law.
This publication does not intend to delve into Succession Law, but to give you a basic guide on what to do legally, in an emergent and urgent way, to protect the assets of those who have died:
- Step 1:Once the Death Certificate has been obtained (those who provide funeral services guide you and collaborate with the process for this) you must make a general analysis of what assets your recently deceased loved one possessed while alive; sincere analysis that must be carried out jointly, with all the heirs, without leaving anyone out, to avoid future conflicts.
- Step 2: Immediately –just after the end of the burial or before if you feel like it– you should contact your trusted lawyer, so that he can draw up a minute (the text) of the “Effective Possession”, which is the mandatory procedure, so that the heirs can dispose of the deceased's assets.
- Step 3: The lawyer will send the draft, to a Notary Public, who will ask you for all the general requirements for the process, and who will carry out a Public Deed, containing that act of “Effective Possession”. We recommend that you request several originals of the Deed, if the deceased had several assets, of different types.
- Step 5: Subsequently, you must carry out the registration process for said Effective Possession, in the relevant public records, depending on the type of asset that has been inherited; this, so that the condition of heir can be proven, before any other interested party.
If you do not have a lawyer who writes the Minute, write to our email, firstname.lastname@example.org and we will send you at no cost, a perfect model, for you to use.
García & Asociados