The Comptroller General of Accounts made official the elimination of the Department of Inheritances, Legacies and Donationsas part of the institutional restructuring after the repeal of inheritance tax approved by Congress in February of this year.
According to the provision, the files that were in said department will be transferred to the Directorate of Cadastre and Appraisal of Real Estate (DICABI), of the Ministry of Public Finance, with the objective of its review and eventual return to the interested parties.
The agreement also establishes the reorganization of the area’s personnel and equipment, in addition to guaranteeing that the documentation is available in accordance with the Access to Public Information Law.
New steps
The change is complemented by the official guide published on April 14 by the Ministry of Public Financewhich details the new process for receiving inherited assets after the tax is eliminated.
According to DICABI, the process begins when the beneficiaries promote the succession process, either through judicial means or through a lawyer and notary.
One of the first steps is the preparation of the inventory of assets, whose value can be determined by DICABI, an appraiser authorized by the Minfin or by agreement between the heirs.
In the case of real estate, shares or other assets, official values registered or established by the corresponding entities are used.
Subsequently, the file is sent to the Attorney General’s Office (PGN)which issues an opinion on the heirs entitled to receive the assets.
Based on this opinion, the declaration of heirs is issued, which allows the transfer of assets to be formalized before the Property Registry and the cadastral authorities.
The process concludes with the sending of the file to the General Protocols Archive, after the intervention of institutions such as the PGN, SAT, Property Registry, Comptroller’s Office and municipalities, which validate inventories, opinions and records.