What does it consist of?

Gifts during life, also known as gifts from parents to children, are a method of transferring assets, similar to inheritances.

The main objective of this process is to document the transfer of an asset to another person.

These types of gifts are made at no cost to the recipient, who is not required to pay any price or fulfill any consideration. Although in some cases they may include some burden or encumbrance for the recipient, the value of what is received always exceeds said imposed burden.

These gifts can be made to both natural persons (whether they are family members or not) and legal persons (such as NGOs, foundations, etc.).

Types of Gifts

• Rebatable Gift
  Transfer made during the donor's lifetime to an heir, which must be reintegrated into the hereditary mass after death to calculate the partitions.

• Non-rebatable Gift
  Made as a gift, without the recipient needing to compensate the other heirs.

• Pure Gift
  The donor freely gifts part of their assets without imposing burdens or conditions.

• Onerous Gift
  The donor establishes conditions that reduce the amount of the gift, entailing a series of obligations for the person receiving the gift.

Required Documentation

• A valid DNI or passport is required.

• To ensure the application of tax benefits, it is advisable to demonstrate certain circumstances. For example, in family relationships, it is crucial to prove the degree of kinship, for which the Family Book or birth certificate will be required. Although it is also possible to confirm kinship by declaration.

• If the gift involves real estate, proof of ownership must be provided, either through a deed of ownership or an extract from the Registry obtained through the notary.

• In contrast, if the gift involves movable property, such as money, proof of check or bank transfer justifying the payment must be presented, and the deed will include the account of origin of the donated money.

• On the other hand, for vehicle donations, documents proving ownership are needed, while for shares or company stakes, a deed of incorporation or purchase and sale of said shares or stakes will typically be required.

In what situations can this service be used?

Gifts can be used in a variety of situations and contexts, among which we can highlight:

• Support for family members.

• Contribution to charitable organizations.

• Succession planning.

• Obtaining tax benefits.

• Transfer of ownership between individuals and entities.