INHERITANCE PLANNING

Planning an inheritance tends to become a complicated procedure, especially on an emotional level, as it involves having to think of a time that either preferably will not arrive, or that will arrive as late as possible. However, performing this exercise is of great importance and not only will it bring mental and economic tranquility to your life, but also to your family members and loved ones.

The importance of planning your inheritance lies in being able to organize your heritage in an optimal and realistic way. Not planning your succession will cause the law to decide for you, resulting in unwanted family conflicts and significant economic losses on numerous occasions. But, good planning goes far beyond making a will. It involves taking an inventory of the type of assets that make up your estate, as well as calculating the resources you’re going to need throughout your life. That is, once the inventory of goods has been carried out, knowing what type of assets we have and where they are located, we will be able to determine which ones we want to donate and which ones to leave in inheritance, organizing the assets in the most optimal way.

It is important to note that, in Andorra, there is no inheritance or donation tax. However, the tax legislation of the country of residence of the recipients of donations or heirs is important, since it depends on the tax burden they will have to bear. Undoubtedly, good planning, carried out from a global point of view and without haste, will allow an orderly succession, aligned with your intentions and purposes.