Is it legal to pay inheritance tax with money from the deceased’s account?
receive an inheritance It is usually perceived as economic relief or good news, but the reality is that, in many cases, the first thing the heir encounters is not a benefit, but an obligation. The Inheritance Tax must be paid before being able to touch a single euro or dispose of an inherited asset and the truth is that Many beneficiaries do not have the liquidity to face this initial payment.
Despite this, many wonder if it is possible have the deceased’s own money to pay the tax. It is not a trap or a hidden loophole. Inheritance regulations explicitly recognize this possibility so that heirs can comply with their tax obligations without having to spend their own money.
How to use the deceased’s money to pay the inheritance?
Law 29/1987 on Inheritance and Donation Tax, together with its regulations, establishes that banks can release part of the money that the deceased had in his accounts to exclusively pay the inheritance tax. Although entities block accounts as soon as the death is notified, these funds are not inaccessible, if possible prove who the heirs are, the tax settlement can be submitted.
The money never passes into the hands of the heir. The bank is responsible for transferring it directly to the Treasury or to the responsible autonomous body. In this way, it is guaranteed that the funds are used only for their legal purpose and no conflict is generated between heirs.
Procedure requirements
In order for the bank to release that amount, the heirs must demonstrate its condition and justify the exact cost of the tax. The most common documents are:
- Death certificate of the holder.
- Will and certificate of last wills, or declaration of heirs if there is no will.
- DNI of the heirs.
- The self-assessment of the tax, issued by the corresponding administration.
After receiving the documentation, the entity will process the payment by transfer or nominative check. It is not always an immediate process, so experts recommend applying as soon as possible to avoid delays. In some cases, there may even be management fees.
It is important to remember that this option It does not imply any tax reduction. The amount of the tax remains the same and the deceased’s money remains part of the estate, even if it is used to pay the tax.
The tax may change depending on the community
The final amount of the tax depends greatly on the autonomous community. In territories like Madrid, Murcia or Andalusia, the bonuses reach 99%, which leaves the tax practically zero for inheritances between direct relatives. In other regions such as Catalonia, Galicia or the Valencian Community, the tax burden can be much higher.
