What does it consist of?

Living donations, also called parent-to-child donations, 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.

Donations of this type 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 donations can be granted to both individuals (whether they are family members or not) and legal entities (such as NGOs, foundations, etc.).

Types of Donations

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

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

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

• Onerous Donation
  The donor establishes conditions that reduce the amount of the donation, involving a series of obligations for the person receiving the donation.

Documentation Required

• The presentation of a valid ID card 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 donation involves real estate, evidence of ownership must be provided, either through a property deed or a registry extract obtained through the notary.

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

• Furthermore, for vehicle donations, documents proving ownership are needed, while for shares or company participations, a deed of incorporation or purchase and sale of said shares or participations will typically be required.

In what situations can this service be used?

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

• Support for family members.

• Contributions to charitable organizations.

• Succession planning.

• Obtaining tax benefits.

• Transfer of ownership between individuals and entities.