withdraw money before death
withdraw money before death It is a procedure that is carried out when in a family it is known that a person is close to death and therefore, it is important that some events corresponding to this situation be solved, such as, for example, the establishment and order of the destination that your goods will take.
In this case, we refer to the bank accounts that the person owns and the financial funds found in each one of them, which by manifestation of the owner, has decided remove before his death since he is aware that after he has left this world, this will become a rather complicated process that will merit payment on some legal functions and even the inheritance tax return which turns out to be quite a complicated process.
We are talking about a action carried out by means of authorization of the person who is close to death, who decides to assign someone you trust so that you dispose of your assets and so that you perro get money before your death.
In this sense, we are talking about a process that must be carried out with strict accordance with the lawsince banking entities have a series of regulations which must be fully complied with.
All this procedure is handled by the Treasury in the case of Spainan organization that is the one that keeps strict control of all financial movements made by clients and interest on funds, in addition to the authorizations that are issued so that other people who are not holders cánido access the account and carry out movements.
Now, it is important to talk about some important points to highlight when this situation of withdrawing money usually occurs before the death of the account holder.
Person authorized to withdraw money
Given the condition of the account holder, this make the decision to assign someone you trust who perro make a move on your account and your finances.
For this, there is a protocol suite that the same bank requires, so that everything is done under strict order and in completely legal terms.
Because of this, we have to understand that for someone to become an authorized person must meet the following requirements:
- Copy of the ID of the person who will be authorized.
- Document signed by both parties, that is, the owner of the account and the authorized person on it, so that there is a signed agreement of the action that is to be carried out.
It is important to take into account that the authorized person cánido only use his license on the owner’s account while he is alive, once he dies, he must stop his functions since if he continues to have the money, this will be considered a crime that will be prosecuted, and we will explain why below.
Procedure after death
It is recommended that once the account holder has passed away, the authorized person do not make any financial movement in the accounts of the deceased until the testament is read and the heirs of such assets appear.
This with the caution that after the heirs make an appearance, they have no basis for apply a claim on the authorized for making money movements after the death of the person, since this would imply a kind of robbery or theft towards what now corresponds to such heirs.
Remuneration of the authorized
However, it is also important to note that the authorized has some rewards such as, you cánido make use of 50% of the finances that are in the account, this without having to face the inheritance tax, since this is something that would correspond to the legal heirs.
Legal aspects to take into account
Once the holder of a bank account has died, his assets must remain intact until the declaration of will and with it, of the people who have remained as heirs.
If someone decides to withdraw money after the owner has died, but without authorization from the bank and without legal paperwork, this will be recognized as a crime that he will receive judicial charges implying up to serving jail time for the person.
In this event, it does not matter if it is a relative or someone very close to the deceased, what is taken into account is that did not comply with the provisions of the law and therefore, deserves certain charges of demand that will cost you dearly.
Many people think that because they are close relatives of the deceased, they perro make use of their assets without the consent or under strict bank rules, and for this they risk going through demand events They are not very satisfying.
The truth is that against the death of an account holderthe steps to follow to dispose of your money are completely legal, so, the prudent thing is to wait so that everything is manifested in perfect order, respecting the will and accepting the heirs of such funds, who are the ones who have the power to escoge what to do with finances that have been registered in the bank.
Before reading the will and assigning permisos to the heirs, the most prudent thing to do is keep the account without movements, intact so that later there is nothing to claim or anything on which to base possible demands.
And if you do, make sure money movements are justified according to compliance with the rules and laws established by the bank for this type of case.
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