Universal heir with a will
The universal heir with a will is the one who receives all the assets as well as rights, obligations, and debts of the deceased person. The succession is designated by the deceased in their will, but what happens if there are other siblings? And what about the legitimate portion? As specialists in inheritances in Barcelona and Notaries for inheritances and wills, in this article we will try to resolve all your questions.
What does Universal Heir mean in a Will?
As we said, the testator, when making the will, can choose a universal heir who will be the one to receive the entire estate, who also assumes any debts or obligations that remain outstanding to the testator.
The figure of the universal heir is not exclusive to a descendant, as a will can name all the children as universal heirs or even the spouse. What happens if a will names only one universal heir among the children?
A single Universal Heir with siblings
Well, it is true that the universal heir with a will, although they will receive the entire inheritance, must respect the legitimate portion, that is, the part that corresponds to the legitimate heirs. In this case, the universal heir (or the universal heirs) will receive the total inheritance and the siblings must claim their corresponding share, which must be respected at all times by the universal heir. The legitimate portion will be divided among all existing siblings.
But the distribution of the inheritance will depend if there is no will: in this case it will be distributed among all the heirs.
If you want to know more about the legitimate portion, its percentages or its application according to its location in Spain, you can consult this link:
What does sole heir mean and what is the difference?
For there to be a sole heir, certain factors must coincide: either the deceased designated a single beneficiary in the will or, if there is none, it will be the closest relative to the deceased. If one of these cases occurs, the sole heir can also be the universal and sole heir at the same time.
Likewise, when a deceased person has only had one child and this child is alive at the time of their father's death, the figure of universal and sole heir applies.
Who can be a universal heir?
A child or grandchild, an ascendant or a spouse can be a universal heir.
I am a universal heir with a will and I have inherited a house with a mortgage.
In this case, the heir must assume the mortgage if they decide to accept the inheritance. There are also other options such as accepting the inheritance with the benefit of inventory or renouncing it.
JLA Notarios and the meaning of universal heir
At our notary office in Barcelona we can advise you on the inheritance process. Accepting an inheritance, whether with benefit of inventory or not, or renouncing it are different options depending on what suits a person best. Contact us and we will advise you on all aspects, including tax matters. Arrange an appointment through the contact form on our website or by sending an email to bcn@jlanotarios.com. We will be happy to assist you.
