Inheritance and Succession in Colombia: Process and What to Know
When a person passes away, their assets, rights, and obligations pass to their heirs or legatees through succession. This is an important process to understand in order to protect family assets.
What is succession?
Succession is the process by which the assets of a deceased person are transferred to those entitled to receive them. It can be:
- Testate: when the deceased left a will.
- Intestate: when there is no will and the law determines who inherits.
Who are the heirs?
When there is no will, Colombian law establishes an order of preference:
- Spouse or permanent partner
- Children (and their descendants)
- Parents and ascendants
- Siblings and other relatives within the legal degree
Types of succession
Notarial succession
It is processed before a notary and is possible when all interested parties agree and are able to appear. It is a more agile alternative than a judicial process.
Judicial succession
When there is no agreement among the heirs, or when there are minors or people who cannot appear on their own, the process must be carried out before a judge.
General steps of the process
- Obtain the death certificate and the registry of assets
- Identify the heirs and the estate to be distributed
- Prepare the distribution of assets
- Notarize or register the adjudication
- Complete the transfer procedures before the notary and the registry of public instruments
Why seek professional advice?
A well-executed succession avoids family conflicts and problems with the assets. At AJIN we guide you through testate and intestate successions, by notarial or judicial route. Request a consultation.