Inheritance
You may never have thought about it, but inheriting assets doesn’t always mean you’ll gain financially. In many cases, along with homes, savings, or properties, there can be loans, mortgages, unpaid taxes, or debts that can become a burden for heirs.
Economist and educator Luis Garvía has addressed this in a video posted on Instagram, urging caution before accepting any inheritance. “The big mistake is to accept it without thinking twice,” he explains. According to him, when you accept an inheritance outright, you also take on the deceased’s financial obligations.
This means that if the debts exceed the value of the inherited assets, the heir might even have to use their own personal assets to cover them. To avoid such an unpleasant and financially risky situation, Garvía stresses the importance of using a legal option available in the Civil Code: acceptance “with the benefit of inventory.” This mechanism allows the heir to only be liable for debts up to the value of the inherited assets, without endangering their own wealth.
“This way, you only inherit if what you receive is worth more than what is owed,” the economist summarizes. In practice, this method requires a detailed inventory of all assets and obligations linked to the inheritance before making a final decision.
This advice is especially relevant in a context where many families are unaware of the complete financial situation of their deceased relatives. Old mortgages, guarantees, or tax debts may surface years later, leading to conflicts.
As Garvía says, “Always accept an inheritance with the benefit of inventory. It’s the safe way.” Consult your lawyer if you are responsible for handling any inheritance.
