Eng Succession in Argentina

SUCCESSION IN ARGENTINA

Peña Pereira de Azevedo & Associates Firm

Contrary to what happens in certain European countries, such as France and Spain, where successions are dealt with by a Notary or Notary Public, in Argentina, succession proceedings are initiated by a competent judge, i.e., at the court situated within the jurisdiction where the decedent was domiciled.

The purpose of the succession proceeding is to determine who will inherit the decedent’s estate, declare them as heirs, approve the will, if any, establish which assets make up the estate (the assets subject to succession), the decedent’s credits and debts, and finally, register the assets in the name of heirs or sell or distribute them among the heirs.

International succession. Non-resident citizens

The heirs of non-resident Argentine citizens or of foreigners who at the time of death had assets in Argentina, in addition to the succession proceedings to be carried out in their country of residence, must initiate a succession proceeding in Argentina if they wish to inherit the decedent’s assets located in this country.

In such a case, succession proceedings must take place in the jurisdiction where the assets are located.

a) Intestate succession, also called “ab intestato” succession, where the decedent did not establish who his or her heirs or beneficiaries would be; and

b) Testate succession, based on the will expressed by the decedent in a testament as to who his or her heirs or beneficiaries would be.

a) Intestate succession:

In the absence of a will or testament, the law establishes that lawful heirs are descendants (children and grandchildren of the decedent), ascendants (parents, grandparents), his or her spouse (husband or wife) and collaterals up to the fourth degree (siblings and nephews/nieces).

In this sense, next of kin (for instance, the spouse and descendants) inherit the estate, while more distant relatives are excluded from the inheritance.

In the intestate or “ab intestato” succession or succession without a will, the court determines and declares who the heirs are. The “Declaration of Heirs” is a resolution by means of which the judge “declares” or determines who the heirs to the estate are.

After this decision, court fees (the tax charged by the Argentine State for the service of justice) are paid, administrative procedures are fulfilled in order to confirm that the decedent was the owner of the assets, and then the “Declaration of Heirs” is registered with the Real Estate Registry or with the Registry of Motor Vehicles, as applicable.

b) Testate succession:

In a testate succession, on the contrary, the will of the decedent must be complied with, as long as he or she has respected the legitimate portion to which forced heirs (spouse, descendants or ascendants) are entitled. This is so because in Argentina the decedent cannot dispose freely of the totality of his or her assets.

The legitimate portion varies depending on the different types of heirs. In the case of descendants, two thirds of the inheritance goes to them. According to this restriction imposed by law, the testator can freely dispose of only one third of his or her assets. As to the spouse and ascendants, they are entitled to one half of the assets.

In a testamentary proceeding, a judicial decision approving the will is sought; such decision is then registered with the pertinent Public Registry.

There are different types of wills: the holographic will, that must be fully written by hand, dated and signed by the testator, and the will executed before a Notary in the presence of two witnesses.

The testator may revoke or modify the testament if he or she considers it to be advisable. If upon the testator’s death, two wills signed by him or her are found, the subsequent will revokes the previous one.

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SUCCESSION IN ARGENTINA

Peña Pereira de Azevedo & Associates Firm

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