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Inventory and Listing

The death of a loved one is a traumatic situation in anyone's life. The pain of losing someone, in most cases, can last for years, if not the rest of their lives.


Considering that the purpose of the inventory is to transfer ownership of the deceased's assets to the heirs, it is normal to have an attitude of respect towards the deceased person and their assets, resulting in the postponement of the opening of the inventory. However, it is good to be aware that after the death, the heirs must be rational and start it within 60 days of the death, to avoid charging interest and fines on the ITCMD – Tax on Transmission Causa Mortis and Donation, as I will mention later.


In addition, anyone can open the inventory, not only the heirs, but also the creditors of the deceased.

All assets belonging to the deceased must be inventoried; real estate, vehicles, checking account, investments, applications, shares of a company, that is, all assets existing at the time of death. 

The inventory can be opened judicially or, if there is a consensus between the heirs, extrajudicially, through a notary's office. The judicial inventory will be filed in the court of the last domicile of the deceased, or, if he did not have a fixed domicile, it can be filed at the place of death. 


Some other issues differentiate the extrajudicial inventory from the judicial, for example: in the extrajudicial inventory (notary of notes) the full payment of the ITCMD (transmission tax causa mortis) will be required at once. In the judicial sphere, the tax can be paid in up to 12 installments, but interest will be incurred.  

In any modality of inventory, judicial or extrajudicial, the ITCMD state tax will apply. As an example, in the State of São Paulo its rate is 4% on the total value of the inheritance, while in the State of Rio de Janeiro the rate is between 4.5% and 5%, depending on the value of the assets, except , in both cases, if it is opened after the period of 60 days, at which time the tax in all States can reach the amount of 10% to 20%.

As it is a state tax, the amount to be collected will depend on the location of the property. If in a different state from which the inventory was opened, the tax of the state where the property is located must be collected. That is, nothing prevents the inventory from being carried out in São Paulo, if the death took place here, and the tax collection being made in Rio Grande do Sul (place where the asset is located).

It is very important to carry out the inventory, since the patrimony must be shared among the heirs according to their hereditary vocation so that there are no future problems. 

To conclude, it is good to inform you that while the probate is not completed, the heirs will not be able to sell, dispose of and transact the assets of the deceased.

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