Withdrawing funds from a bank account after the death of a family member can lead to serious tax and legal problems. The High Court of Justice of Madrid has just clarified the extent of tacit acceptance of an inheritance, even if nothing has been signed before a notary.
Tacit Acceptance of an Inheritance and Its Impact on Inheritance Tax
This situation is more common than it seems. After the death of a family member, heirs are forced to face banking and legal procedures. Many are unaware that, by carrying out certain procedures or accessing funds from the deceased, they may be implicitly accepting the inheritance, which entails tax obligations.
This was key in the case analyzed by the TSJM. After the death of her sister, a woman withdrew more than 120,000 euros from accounts where she was listed as a joint owner or authorized beneficiary. Although she claimed that not all of the transactions were her own doing and that she only covered payments related to the death, she could not justify the use of the funds or prove that these amounts were not part of the estate.
Tax consequences of not justifying the disposition of funds
The Directorate General of Taxes acted upon detecting these transactions, considering that the withdrawal of funds constituted a tacit acceptance of the inheritance. This generated an inheritance tax assessment of €26,217.11, in addition to a penalty of €17,999.73 for failure to file the return on time. The affected party argued that she was unaware of the existence of the assets and that she had already waived them before a notary, but the court dismissed her claims.
The court considered not only the withdrawal of funds but also the complete lack of justification regarding the emptying of the accounts. Under these circumstances, it was understood that there was a tacit acceptance of the inheritance, with the tax consequences that this entails.
The Supreme Court ruling (STSJ) M 11382/2024 is clear: when an interested party disposes of funds from the deceased's accounts without justifying their use or proving that they are not part of the inheritance, they are considered to have accepted the inheritance, even if there has been no formal acceptance before a notary. All of this is based on the provisions of Article 11.1.a of Law 29/1987 on Inheritance and Gift Tax.
Reasons for Annulling the Penalty
Although the tax liability was upheld, the court annulled the administrative penalty, as it was not proven that the taxpayer acted in bad faith or negligence. To impose a tax penalty, a violation is not enough: it is essential to prove intent or negligence, which was not the case in this case.
Options for Covering Urgent Expenses Without Accepting the Inheritance
If funds are needed for strictly necessary expenses, such as a funeral, the safest option is to request a partial release of funds from the bank, providing documentary evidence of the purpose. Another alternative is to request judicial authorization to access a certain amount, without implying acceptance of the inheritance.
Risks of Accepting Inheritances with Liabilities
Accepting an inheritance entails assuming both the assets and debts of the deceased. If the liabilities exceed the assets, the heir may be forced to respond from their own assets, unless they request the benefit of inventory, thus limiting their liability to the inherited assets.
Recommendations for Managing the Bank Accounts of a Deceased Person
The main conclusion of the ruling is clear: withdrawing funds from the deceased's accounts can be interpreted as tacit acceptance of the inheritance, which implies the obligation to pay Inheritance Tax. Furthermore, renouncing the inheritance later may be ineffective if acts implying acceptance have already been carried out.
Ultimately, it is essential to seek proper advice before disposing of funds from the bank accounts of a deceased person to avoid significant tax and legal contingencies.