More Wills, Pre-Wills and Inheritance Disclaimers: Notary Public Issues

Giving up an inheritance is becoming an increasingly popular move. Last year, notaries formalized 10,393 resignations, 5% more than in 2022. These are data from Notary Observatory of Catalonia. According to these numbers, 16% of the total inheritance (63,483) is unacceptable. This is a phenomenon similar to that of the country as a whole, as the number of resignations last year reached 56,108, or 15.8% of the total.

Debts and taxes

According to notaries, the main reason for relinquishing an inheritance is the debt it entails, followed by the impossibility of paying the corresponding taxes.

It can also happen that children choose to give up a parent's inheritance in favor of the widow or widower. The peak of resignations was in 2021, the year after the start of the pandemic, amounting to 10,523. Through demarcation, 72% were formalized in Barcelona, ​​Tarragona and Girona (about 11% of the total and Lleida 5.7%).

More wills in women and under 40 years

As for wills, notaries processed 136,000, which is a record number for the last 5 years, and an increase of 8% over last year.

The increase is also explained by the aging of the population. The most common age for making a will is between 56 and 70 years of age. But it is also true that it is an increasingly common phenomenon in other age groups.

Between the ages of 41 and 55, 32,389 wills were signed last year. There were 6,920 people aged between 26 and 40 years. Above all, they are women, making up 56% of the total.

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More weddings, divorces and powers of attorney

Notaries celebrate in 2023 3,392 marriages, an increase of 16% compared to 2022, the highest number since 2019.. By age group, the most common were those from 26 to 40 years, followed by those from 41 to 55 years. Divorces also increased by 2% and exceeded 1,861. The age that witnesses the largest number of divorces is between 41 and 55 years.

47% of preventive authorities have been approved across the country in Catalonia. In total, there were 10,635, 27% more than in 2022. The vast majority of people going Granting preventive powers They were over 81 years old. 65% of them are women, and half of the donors are widows.

It is about giving powers of attorney to a trusted person to represent the grantor of powers in actions such as buying and selling real estate, accepting or rejecting an inheritance or banking procedures. This is usually done when a person anticipates that they may become incapacitated in the future, and is revocable.

Half of the apartments are paid in cash

During 2023, Catalan notaries also revealed an increase in the buying and selling of properties without a mortgage, due to rising interest rates. More than half of purchases, 51%, are made without mortgage credit.

Thus, while mortgage loans fell by 23% compared to 2022 and amounted to 61,941, property sales fell by 10% to 130,934, i.e. 14% of Spain's total. Specifically, about 96,000 homes were sold, including 78,000 apartments and 18,000 single-family homes.

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Expected wills are released

Notaries also reveal a significant increase in prior wills, which they explain by New euthanasia law. In 2023, in Catalonia, notaries formalized 11,449 living wills, 41% more than in 2022. Since 2019, their number has doubled.

Two-thirds of all wills made in the state as a whole are in Catalonia. It is a sign of the influence of this rule, although notaries do not depict the full scope of this phenomenon, because a prior will can also be registered Directly to management.

Recall 30 Minutes' “Influenced by Inheritance” report on the importance of leaving everything tied up before you die.

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