Inheritance or donation during life: legacy that transcends

Inheritance is the transfer of assets after death, through a will, which establishes the last will of the deceased to avoid family disputes. It is a personal, revocable and free legal act, through which a person (the testator) disposes of his assets after his death.

In Mexico there are different types of wills, including the open will, which is made before a notary, the closed will and the holographic will, drawn up in the testator’s own handwriting.

The costs vary depending on the type and the federal entity, generally ranging between 800 and 5 thousand pesos. There are campaigns such as “Will Month” that offer discounts of up to 50 percent to encourage this practice.

However, enforcing a will can often involve long and expensive court processes due to court saturation. Notaries offer a faster route in cases without conflicts or minors.

“Succession processes in saturated courts can last for years, generating costs and family wear. On the other hand, when going to a notary, these procedures are resolved in months if there are no conflicts or minors involved,” said José Rodolfo Chávez, notary public number 38 in Zapopan.

Donation with usufruct allows ownership of an asset to be transferred to another person, but the donor retains the right to use and enjoy that asset during his or her lifetime, known as life usufruct. This means that you can live in the house, rent it out or receive benefits from the property as long as you retain this right.

“I would make a donation to my children and reserve usufruct for life so that while one lives, the assets are not disposed of without consent. This protects the family and maintains the enjoyment of the asset during life,” said the notary.

Intestate succession trials, necessary if there is no will, can cost between 20 thousand and 100 thousand pesos or more. In contrast, the donation with usufruct has a notarial cost of approximately 5 percent of the value of the property and a lower municipal tax of between 2 and 2.5 percent, without payment of income taxes or VAT on donations between immediate family members.

“The will process is more expensive and complicated due to the different types and costs, in addition to legal expenses. On the other hand, the donation with usufruct is more agile, with lower costs and without income taxes or VAT. It protects the donor and his assets while he lives,” clarified the notary.

To carry out any of these legal acts, it is necessary to go to a notary public accompanied by the person with whom you wish to agree on the donation or, in the case of a will, simply the testator. Basic requirements include:

+Be of age.
+Present valid official identification and birth certificate.
+If applicable, marriage or divorce certificate to specify marital regime.
+Simple copy of the real estate (in case of donation or sale).
+Payment of the corresponding notarial fees.

The notary guides each step, advising on the most appropriate type of act for each case and ensuring the legality and validity of the document.

Only 4.7 percent of adults have a formal will, according to the National Registry of Wills, which shows the need to strengthen the culture of estate planning to avoid disputes and family wear and tear.

“Planning our estate is the greatest act of love and responsibility. Leaving a legacy that transcends is guaranteeing an orderly future for those we love,” concluded the notary.

Each person knows their family and must choose the option that best avoids conflicts and preserves the legacy, recognizing the interests and abilities of its members to care for the heritage. Many times those who own assets think that they will never leave, but the reality is different, so planning is vital.

“Everyone must decide according to their family, identifying who has the interest or capacity to take care of the legacy. Recognizing that no one is immortal forces us to plan to avoid future problems,” recommended Chávez.

Planning is a fundamental act to guarantee that our heritage is transmitted in an orderly, efficient manner and according to our will, especially in a family context where each situation is unique. In short, planning the future of our assets is an act of responsibility and love that ensures the tranquility and well-being of the generations that will follow us.