Elderly people often think in advance about the disposal of their property. They have the right to bequeath or donate it. However, on what to choose?
What is a will and donation
A will is a document that contains the will of a person regarding the disposal of his property after death. A donation is nothing more than a donation agreement. A will is always drawn up with a notary. A simple written form is sufficient for a donation agreement. However, it can be notarized at the request of the parties. If the subject of the contract is real estate, the transfer of ownership of it is subject to state registration. It should be remembered that if during the life of the donor the rights to the real estate for the new owner were not registered, then the fact of donation loses its force.
A will or deed of gift can also be drawn up in favor of people who are not related to the author of the document.
How to make the right choice
When choosing between a will and a gift, it is necessary to proceed from the following. The will comes into force only after the death of the person, or rather, no earlier than 6 months later. Accordingly, only then the heir (heirs) will receive ownership of the property bequeathed to him. The donation agreement may come into force from the moment of its conclusion.
When choosing between a will and a dedication, it is necessary to take into account the costs of their registration. So, when concluding a real estate donation agreement with a notary, a state duty in the amount of 1000 rubles is paid. The same amount is paid for the registration of the transfer of ownership of it. When making a will, a state fee is charged in the amount of 100 rubles. However, then the heirs will need to pay the state duty for the issuance of a certificate of the right to inheritance. Its size is 0.3% of the value of the property that is the subject of inheritance, but not more than 100,000 rubles. The exception is cases when the heir lived with the testator on the day of his death and continues to live there.
When drawing up a donation agreement, you also need to be prepared for the fact that the donee, unless he is a close relative or a member of the donor's family, will have to pay tax on the income of individuals. Upon receipt of property under a will, personal income tax is not levied.
The will and the donation agreement can be challenged in court due to their invalidity. At the same time, it is possible to file a claim for invalidation of the will only after the opening of the inheritance.