January 27, 2022

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This is the time when you can withdraw from the deceased’s bank account by opening the deposited funds

There are certain procedures that the law requires lenders to follow after the death of a checking account holder. One is to prevent operations on bank deposits until they have been called to bequeath to formalize the deed of succession. This measure is intended to protect inheritance law and comply with current regulations in this regard. Only some exceptions may be considered for certain expenses. Here you can withdraw from the current account of the deceased by opening the deposited funds and what the legislation provides in this regard.

How to unlock money when depositing

The declaration of succession is one of the obligations that heirs often have to face upon the death of a loved one. This law provides for the transfer of positive and negative legal relations from the deceased person to the heirs. When it comes to obligations, it is good to know that those who accept inheritance are also responsible for any outstanding tax attributed to the deceased.

This is whatArticle 752 of the Civil Code. Some family members are an exception, as we explained in a previous study with reference Which heirs must pay neither taxes nor debts of the deceased.

On the death of the current account holder, the bank first of all blocks deposits so that no one can make withdrawals before the succession. Family members and loved ones who do not comply with this rule commit a crime and risk returning the incorrectly withdrawn money from the account. It is often necessary to fulfill first of all some bureaucratic and financial obligations such as deciding the succession. Thus only The heirs can immediately receive the money from the bank account of the deceased.

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This is the time when you can withdraw from the deceased’s bank account by opening the deposited funds

There can be an exception to the previous succession tax for funeral expenses. This kind of expenditure rather than the tacit acceptance on the part of those called to inherit it, prefers to take the form of a moral and family duty. The only limitation on this type of withdrawal relates to the consent of the heirs. It is necessary that they all agree to withdraw the amount from the deceased’s money to pay the funeral expenses.

In this way, it will be possible to authorize even only one of those who have been called to the inheritance to carry out the withdrawal by notarized acknowledgment. In these cases, it is advisable to consult the bank to find out how to order this operation. Once the heirs complete the succession process, the entire bank deposit can be released and divided among them.

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At the opening of the succession, these family members are also entitled to 1,550 euros from the Revenue Agency as a discount