The question comes up at almost every first consultation: how much will the inheritance cost us? There is no single figure, because it depends on the value of the assets, how many heirs there are and the family relationship. But the items are always the same, and it pays to know them from the start so that no payment catches the family without cash.
1. Certificates: the first step, almost free
Opening any estate requires three documents. The death certificate, issued free by the Civil Registry. The certificate of last wills, which shows whether there is a will and before which notary, and can only be requested 15 working days after the death; it carries a small fee. And the certificate of life insurance contracts, which reveals whether there were policies in anyone's favour, also for a small fee.
They are small amounts, but nothing moves without them. If there is no will, a declaration of heirs before a notary is also needed.
2. Notary: acceptance and award
The deed of acceptance and award of the inheritance is signed before a notary. Notary fees are not freely set: they are fixed by the notarial fee scale (Royal Decree 1426/1989) and depend mainly on the value of what is inherited and the number of pages in the deed. With a clear will and few assets it is a simple deed; with several properties, accounts and heirs, it grows accordingly.
If a declaration of heirs is needed, it is a separate notarial act with its own cost. And if an heir lives abroad and signs through a representative, add the power of attorney in their country with the corresponding apostille.
3. Land Registry
If there is property, it must be registered in the heirs' names. The registry also charges by fee scale (Royal Decree 1427/1989), according to the value of each property. Registration is not compulsory, but without it the heir cannot sell or mortgage normally, so in practice it is always done.
4. Inheritance Tax: the biggest cost and the one with a deadline
It is the main item and the only one with a strict deadline: six months from the death, extendable by another six if requested within the first five. Each heir pays for what they receive, not the estate as a whole.
In the Valencia region the tax has significant reductions and allowances for children, spouse and parents, so in many family inheritances the final bill is low. But to apply them the return has to be filed correctly, with the right value for each asset, including the cadastral reference value of property. We explain it in depth in Inheritance Tax in Valencia.
Debts of the deceased that can be proven, such as an outstanding mortgage, and funeral expenses reduce the tax base. Gather the receipts from day one.
"The most expensive mistake in an inheritance is not a cost: it is filing Inheritance Tax late or without the reductions you are entitled to."
5. Municipal plusvalía
When urban property is inherited, each town hall charges the tax on the increase in land value, known as the municipal plusvalía. It also has a six-month deadline and is not due if there has been no increase in value since the deceased bought. There are two calculation methods and you can choose the more favourable: see municipal plusvalía on an inheritance.
6. Other common costs
Depending on the case: registry cancellation of mortgages already paid off, a valuation if an asset's value is disputed, bank charges for changing ownership of accounts and securities, re-registering vehicles and, if hired, the firm handling the file. On that last point there is a separate article: how much a lawyer charges for an inheritance.
Who pays, and with what money?
Inheritance costs are paid by the heirs, usually in proportion to what each receives. The practical problem is that the deceased's accounts are usually frozen until the estate is accepted and the tax paid, so heirs have to advance their own money. There are two ways out: ask the bank to pay the tax from the deceased's balances, which many banks allow, or have someone advance the costs.
At Equus Capital, in selected cases, we advance taxes, notary and procedures so the family does not have to put money in before inheriting. We assess each case individually.
Summary: what you pay and when
| Item | When | How it is calculated |
|---|---|---|
| Certificates | From working day 15 | Small fees |
| Declaration of heirs | Only without a will | Notarial fee scale |
| Deed of acceptance | Before or with the tax filing | Notarial fee scale, by value |
| Inheritance Tax | 6 months (extendable to 12) | Per heir, with reductions |
| Municipal plusvalía | 6 months (extendable to 12) | Per urban property |
| Land Registry | After paying taxes | Registry fee scale, by value |
Frequently asked questions
Can the costs be paid with the deceased's money?
Inheritance Tax, often yes: most banks allow it to be paid from the deceased's accounts if all heirs request it. Notary and registry are usually advanced by the heirs.
What happens if Inheritance Tax is not paid on time?
Late-filing surcharges apply and, if the tax office sends a demand first, a penalty. And until the tax is paid, property cannot be registered and accounts are not released.
Do funeral costs reduce the tax?
Yes. Last-illness, burial and funeral expenses backed by invoices are deducted from the tax base, as are the deceased's debts.
Is it compulsory to register the inheritance?
No, but without registration you cannot sell or mortgage the property normally, and anyone checking the registry will still see the deceased as owner.
Do you advance the costs of the inheritance?
In selected cases, yes: taxes, notary and procedures. We assess it at the first consultation, which is free.