If inheritance is carried out not by will, but by law, the primary role in determining which of the relatives will have priority is played by their location in the inheritance list. In total, there are seven queues, and those located on each of them will enter into rights strictly one after another.
That is, they pass to the heirs of the second stage only if there is no one in the first, to the representatives of the third - if there are no applicants for the second, and so on. But everything is not so simple and smooth, otherwise there would be much less litigation on inheritance issues.
There are various nuances and circumstances that have their influence. Next, the second line of inheritance will be discussed - who is in it, in what cases these persons can assume rights, as well as those very nuances.
Types of bond coupons
By the way, in some ways bonds even resemble shares of companies. True, the difference here is significant. The fact is that bonds do not allow you to make any decisions in the company or enterprise. And you won’t be able to rely on property in the traditional sense of bonds either.
The problem is that bonds do not offer a dividend system. On the other hand, there is an acceptable alternative. After all, income on bonds can be received several times in 12 months. And at the end of the term, the face value of the bond will be paid back to you.
Moreover, bonds are much more reliable compared to classic securities. This is because failure to repay or repay will result in default. But in reality, defaults do not happen very often.
In fact, the current mechanism for working with bonds has a simple explanation for the average person. The point is that you provide the issuer with a certain amount in a transaction similar to a debt agreement. To certify this fact, bonds are issued. In this situation, the issuer acts as a borrower, and the bondholder becomes a lender.
This scheme stipulates the frequency of bond payments. Roughly speaking, you can be paid a portion of your income 2 or 3 times in 1 year. And this will continue until the bond expires. After expiration, you also receive the underlying value of that security. Naturally, classic bonds do not obligate you to anything. In general, after 5 years (conditionally) you can resell the bonds through the exchange (to anyone). Even if the security matures only in 10 years. It works quite simply, if you understand it properly.
Nephews and nephews
Nephews and nephews are called upon as second-degree heirs only by right of representation. If you don’t know what this is, let us explain: the right of representation is a situation where a direct heir dies earlier or together with the testator, and the descendants of his heir are called upon to inherit after the deceased testator. Difficult? Then let's explain with an example.
Once upon a time there were two brothers: Ivan and Fedor. Ivan was engaged in business all his life and made a huge fortune, but never started a family. But Fedor led a modest life and raised two sons. But the relationship with his wife did not work out, and they divorced. The parents of Ivan and Fyodor died a long time ago. And then disaster struck: Ivan and Fedor died in a plane crash.
If Fedor had not died, he would have inherited the entire fortune after Ivan as the heir of the second line (because there is no one from the first line). And in the described situation, the sons of Fyodor will be called upon to inherit by right of representation, as his direct heirs and as Ivan’s nephews.
That is, on the one hand, they inherit after Fedor as heirs of the first order, and at the same time they inherit after Ivan as heirs of the second order by right of representation. This seems to be a comprehensive example.
Basic terminology for working with bonds
Let's start with duration. This is a time period that reflects the actual payback. Roughly speaking, you invest money and wait for the invested funds to be returned to you. Duration is a clear indicator. The rules here are quite simple:
- Conservative bonds usually have medium duration.
- The lower the duration, the faster you will get your money back.
The redemption date is the date on which the issuing company typically returns the face value to you. In addition, the last coupon income is usually added to the moment of cancellation.
Naturally, oral agreements in such a matter are usually unacceptable. This means that some kind of agreement is needed. The offer is used in this capacity. It is not available for all securities. However, for the majority they still use it. In essence, in the offer the issuer sets its own rules:
- Possibility of resale of bonds.
- Procedure for early cancellation, etc.
A coupon is a user fee. Simply put, it is your interest on the issuer's use of funds. The coupon can be expressed in monetary terms or as a percentage. As for the market value of bonds, it determines the price of a particular security. By the way, this figure is purely a percentage. The price of a bond is determined by the parity of supply and demand (in the base). However, other factors may also influence the price of a security in the market.
Market value should not be confused with par value. They start from the nominal value, but it can be increased. For example, on the Moex exchange the nominal value is usually set at 1 thousand rubles. Those. It cannot be lower (in theory).
Well, the issuer is a specific enterprise or organization. And this is also done by individual regions, sometimes even entire states.
Adopted siblings
What to do in a situation where, for example, one of the children was adopted? Does he have the same right to inheritance after his non-natural brothers and sisters? We answer: yes, it does.
For example, a family, having a natural son, adopted a girl. Years later, the parents died, and the remaining son, having never had a family or children, dies in a car accident. In this case, will the girl adopted by his parents at one time be the heir of the second stage? Certainly. Formally, adoptive parents and adopted children are equal in their rights and responsibilities to those persons who are related by biological origin, that is, to parents and children. The adopted child thus enjoys all rights in relation to his adoptive parent and his blood relatives.
Article 1147. Inheritance by adopted children and adoptive parents
That is why, in the described situation, the adopted girl will act as a second-order heir in relation to her brother, although not his own, but the son of her adoptive parents.
Security type
Debt category obligations may be secured or unsecured. Yes, the classic scheme does not provide for collateral. However, there are a huge number of variations for such securities. Namely:
- Group of mortgages.
- Fund papers.
- Assets (physical).
Naturally, if the bonds are not secured, the risk increases. Typically, such bonds are issued on the condition that income will be received as a result of the implementation of a project. As for mortgages, credit contracts are very often used here (for example, for real estate). If borrowers repay, the issuer's solvency is confirmed.
Stock securities are pledged exclusively to those that the issuer currently owns.
Well, physical assets mean any valuable property. Trains, planes, real estate, etc.
Heirs of the second stage without a will
Having dealt with the peculiarities of inheritance by will and law, we move on to a review of the second branch. The law states that the heirs of the second stage are the siblings, as well as the grandparents of the testator. An important condition is the fact of kinship, which excludes inheritance from non-relative family members. (Article 1143 of the Civil Code of the Russian Federation ).
The heirs of the second stage are addressed as follows:
- In the absence of representatives of the early branch of kinship (spouse, children and parents);
- If immediate relatives refuse to register an inheritance;
- If the testator excludes his spouse, children and parents;
- If unworthy heirs are discovered;
- If the applicants from the first branch refuse the inheritance, the heirs of the second line, according to the law of the Civil Code of the Russian Federation, will be able to enter into the inheritance only if the refusal occurred in their favor, for example, the parents abandoned their son’s apartment in favor of the testator’s sister, who is in need of living space).
The last point requires clarification regarding the time frame. According to paragraph 2 of Art. 1154 of the Civil Code of the Russian Federation , the period for accepting an inheritance is 6 months, however, if there is a refusal of the inheritance by relatives of the first branches, then subsequent applicants must submit an application no later than 3 months after the refusal of the previous candidates. If at the time of registration this period was less than 3 months, then the law rounds it up to exactly 3 months.
Important: Brothers/sisters and grandparents must be related by blood. It is expressed in the presence of at least one common parent - the father or mother of the children.
Reliability criterion
This is an informal classification, however, in some places such terms are still used. Bonds based on reliability criteria are usually divided into:
- Bad.
- Good ones.
By bad (they are also called junk) we mean those securities that are issued by an unreliable issuer. Usually no one knows about this enterprise or organization. Well, good bonds (as you might guess) assume that the issuer is a reliable company or organization.
The procedure for accepting an inheritance, acquiring legal rights
According to the Civil Code, property due by inheritance can be obtained in three main ways:
- Write to the notary a statement of consent to accept the inheritance. This method is one of the most optimal, since it immediately declares the heir’s rights to the property due to him. Such paper is registered in a notary’s office and placed on a certain account;
- Only legally capable persons must take part in transactions concerning the acceptance of an inheritance. To directly receive a share of the inheritance, the heir must be at least 14 years old, otherwise all decisions must be made for him by his parents;
- Six months after the opening of the inheritance, the heir has the right to contact the relevant legal authorities , which will register the ownership. Otherwise, you may lose your inheritance.
Profit accrual criterion
In modern conditions, there are many mechanics for paying income to bondholders. The most common of them are:
- Floating (reverse).
- Absent.
- Direct floating.
- Fixed.
In the first case, we assume that a special calculation for the bet is applied. If there is no rate, then nothing is currently being paid for the bond. These are so-called zero-coupon bonds. A direct floating payment scheme assumes that it changes in association with some significant indicator.
Well, the fixed payment mechanics assume that you will receive a set percentage for the bond. This is the most acceptable option for a beginner. Even if circumstances change, the interest rate will not change.
Who is the heir of the 2nd stage by law?
If the testator has not expressed his will through a will, or if for some reason it is declared invalid, legislation comes into play. Depending on the degree of relationship, the heirs fall into a certain queue, in accordance with which it will be determined in what order they will be able to formalize their rights.
There are seven queues in total, and representatives of each subsequent one have an increasingly weak relationship with the testator. The first includes his parents, children and spouse (if the marriage continued at the time of death).
But the heirs of the second stage according to the law:
- brothers and sisters;
- grandparents.
Regarding the latter, the situation resembles that with the parents. That is, when inheriting on the maternal side, there are usually no controversial situations, but if the line is paternal, then sometimes it is necessary to prove the existence of kinship in court.
Most often, this need arises if the child is illegitimate, or there is no record of the father on the birth certificate. For grandparents, there are, respectively, two links - sometimes it is necessary to prove first the relationship with the testator’s mother or father, and then, if it is the father, then his relationship with the testator himself.
Regarding brothers and sisters, it is worth clarifying that, in addition to relatives on both lines (full-blooded), half-blooded ones will also be heirs. These are both half-brothers and sisters (they only have the same father) and half-brothers (only the mother).
The rights of both should not be infringed in any way, that is, they will inherit equally. For example, if the deceased has three brothers, two of them are brothers and one half-brother, then, provided there are no closer relatives and other instructions in the will, his inheritance will be divided into three equal shares.
If brothers and sisters are step-brothers, that is, their parents are married, but they themselves are not blood relatives, they will not have the right to inherit.
Redemption conditions criterion
Well, the last classification for today will be the basic terms of redemption. You need to understand that debt obligations are tied to Central Bank rates. If the interest rate is low, then the assets become profitable. Naturally, this generally applies to all market bonds. And here you need to understand one simple thing. In fact, everyone is at risk:
- Issuers.
- Bondholders.
Therefore, a mechanism is proposed by which the action of an obligation (debt) can be terminated ahead of schedule. This mechanism benefits everyone. Essentially, it allows you to build more flexible relationships between all parties to the transaction. Since such conditions are usually beneficial to the participants in the transaction, an additional opportunity arises. And on the basis of this mechanism, a separate classification of bonds appeared. Namely:
- Convertible papers.
- Review papers.
Convertible notes allow the current holder to convert a specified amount of the bonds into shares of the issuing company. In fact, it is a reinvestment system. As for callable securities, they open up opportunities for the issuer. After all, he can redeem his securities (debt) ahead of schedule. Moreover, if this happens, the holder also receives additional income in the form of a premium amount.
How is the inheritance divided?
According to a will, property is distributed quite simply: whoever is indicated in it receives his share. If the will itself does not specifically indicate who should receive what property, then it is distributed equally among all heirs.
In this case, persons who have committed illegal actions in relation to the deceased can be deprived of inheritance: they have caused moral, physical or material harm to him, both to himself and to his relatives.
Regardless of what is stated in the will, the spouse has the right to half of the property that they acquired during their life together. In addition, people who are relatives of the deceased and people with disabilities can demand a share of the property.
When dividing the inheritance according to the law, a trial takes place, where, according to the Civil Code, everything that belonged to the deceased is strictly divided depending on the order of inheritance.
Types of bond coupons
There are 3 main types of coupons:
- Floating.
- Variable.
- Constant.
The rate for such a coupon is calculated based on a whole group of financial indicators. Typically, a direct relationship is made with the key rate of the regulator (in our case, the Central Bank of the Russian Federation). You need to understand that there are disadvantages to coupons of this type. Especially for those who have just begun to understand bonds. After all, predicting (correctly) future events and profitability is quite problematic.
On the other hand, floating coupons have a number of advantages. For example, the coupon rate usually always exceeds current inflation. Official inflation, of course.
Well, we must not forget that floating coupons are usually better in terms of yield than most deposits on the market.
A variable coupon implies that the issuer will be able to change the rate during the course of the play. Roughly speaking, everything here is in the hands of the company issuing the bonds.
And the key disadvantage here is the lack of forecasting. Because you most likely will not be able to guess the issuer’s decisions even with the help of a professional fortune teller. However, there is a positive aspect to this mechanics of replaying prices. The fact is that such bonds very quickly reflect the economic situation. We will finish with the classification of coupons at a constant category. Relatively speaking, in such conditions you will be able to receive money using coupons without any changes or shocks. The accumulation of coupon income here can be predicted, because everything is already known in advance.
In fact, with a permanent coupon, you always know how much you'll get and when. Permanent coupon bonds are more user-friendly and great for beginners. And this is also a good option for putting together a conservative portfolio.
Procedure for inheritance by applicants of the second category
Having determined who the heirs of the second branch of the family are, it’s time to move on to the inheritance procedure.
The procedure for accepting the property of the deceased:
- Collecting documents (for a notary) - passport, death certificate of the testator, facts of relationship, etc.
- Visiting a notary to write an application for inheritance. During the visit, you should find out whether a will was left? If it was, then the heirs (included in the will) of the second stage will be able to claim the property of the deceased according to the terms of the last will of the deceased.
- Submitting an application and waiting for the date of distribution of shares of property.
- Payment for notary services - the registration procedure for heirs of the second stage is 0.3% of the value of the property (for example, an inherited apartment costing 3 million rubles will cost the applicant 9 thousand rubles).
- Registration of real estate in the Register or MFC - you will need to collect a new list of documents and attach a certificate of inheritance of property to them. As a rule, registration does not take more than 30 days.
The period for preparing all documents is 6 months from the date of filing the application for inheritance. However, such registration does not mean that the heirs of the second stage will not use the property. True, the Civil Code of the Russian Federation still imposes a restriction - relatives will not be able to dispose of property before taking full rights, even if they received an inheritance without a will .
Author of the article: Petr Romanovsky, lawyer Work experience 15 years, specialization - housing, family, inheritance, land, criminal cases.
How are coupons taxed?
This is where we need to figure it out thoroughly. Because in some situations, income from coupons actually fits the tax base. And in other situations you won’t have to pay anything. Let's start from the opposite. Based on Article 217 of the Tax Code of the Russian Federation, you will not have to pay taxes for:
- Securities of the Union State.
- Securities of individual regions of the Russian Federation.
- Interest on OFZ.
In addition, you will not have to pay for income through coupons that are associated with corporate bonds. True, it is still important to understand the emission criterion. The fact is that the rules apply only to those bonds that were issued before January 1, 2017.
If the deadline is missed, the tax base is established. In this case, the so-called “tax” on excess rates is applied. The problem is that it is equal to a share of 35 percent. Hardly anyone is delighted with such generosity from the state.
It is also necessary to take into account the rules for applying such a tax. Let's assume that you purchased a package of bonds with an income (at coupons) of 10 percent. And you purchased this bond for 50 units. It turns out that the yield is currently 20 percent. No tax is withheld for this.
However, if you purchased some debt security for 200, with a yield of 16 percent, despite the fact that in fact the yield is half that, then tax will be withheld from you. This is such a cunning system, and in many ways, quite strange.
At the same time, the procedure for withholding taxes has also been established. In particular, you should refer to the following articles:
- 214.9.
- 226.
If you don’t delve into government “twists” and speech patterns, it turns out that the tax agent is the company that pays the citizen money. In principle, there is nothing surprising in this. But here you need to understand the peculiarities of working with bonds.
In fact, after the bond is redeemed, the funds are sent to the depository. And from there the money is distributed to brokerage companies. And the broker is already engaged in the distribution of funds between clients.
It turns out that you won’t be able to withdraw funds from the depository to your personal account right away. And in the case of coupons, it is the depository that is regarded as a tax agent. For those who trade other securities, this may seem unusual, but these are the rules. In fact, it is the depository that will withhold all taxes at the enrollment stage.
But there are also workarounds. And they pose a danger to the holder. Because in certain situations the depository does not act as a tax agent. And also a brokerage company. In this case, the law places full responsibility for paying taxes on the recipient of the income.
In fact, brokerage companies have provided for this option as well. Typically, the benefits from coupons are released through brokerage accounts, which then allow you to withdraw money to a card or somewhere else.
Who has the first priority right to inheritance?
The race for the property left by him that breaks out after the death of the testator sometimes so captivates all relatives that many do not even think about the question “Who is first in line to inherit?” Nevertheless, no one removes it, and relatives are forced to turn to a notary to conduct the inheritance case, who can clearly determine the order of inheritance.
The very existence of the need to distribute heirs in line may disappear due to the existence of the will of the deceased, in which he can independently register shares of property that, according to his will, will pass to each of the inheritors or to one person. All identified heirs of the first and second priority without a will must be divided by the notary into appropriate groups. If the testamentary disposition was not drawn up at all, became invalid or was lost, all the heirs of the eight lines are lined up in strict sequence. And each subsequent level of kinship is included in the struggle for part of the inheritance due to the complete absence of applicants from the previous level. Heirs of the first and second orders have unconditional priority in receiving a share of the inheritance due to the absence of a testamentary disposition drawn up in advance.
Heirs of the first line
Heirs of the first stage without a will are close people of the deceased, related by blood or recognized as such by documents (adoptive parents, adopted children). Each of the named family members has legal grounds to receive the property part of the inheritance. Moreover, the advantage of consanguinity is not taken into account here; all heirs of the first stage are considered equal.
The heirs of the first stage include:
- Heir by law (spouse is considered).
- Heirs by blood (mother, father, children and equivalent adoptive parents/adoptees).
In the absence of these relatives, the right of inheritance does not always go to another line, since it can be accepted by the heirs of the first line - the grandchildren of the deceased, using the right of representation, who, by law, will subsequently be considered contenders for the share of their non-survivors until the moment of acceptance of the share of the parents' inheritance. The first line of inheritance by right of representation belongs to them, as the direct descendants of the testator, who have a descending relationship with him in the table of kinship.
Important!
The heirs of the first priority do not include the “cohabitants” of the testator.
A spouse whose status is not officially registered is not considered the primary heir, that is, the person with whom the deceased was in a “civil marriage” but did not legitimize the existing family relationship. Therefore, if a will is not found or a “common-law spouse” is not declared in it, then the only option for obtaining an inheritance for such a category of persons is the possibility of recognizing the fact of its dependence on the testator. In other cases, the common-law spouse of the deceased does not accept the rights of first-degree heirs and cannot have the legal right to claim a share of the property.
Thus, gradually understanding the often complicated family relationships between the relatives of the deceased, the notary needs to understand with the maximum degree of certainty:
- Who is the first priority heir by law?
- Are there any relatives who cannot be considered applicants for the inheritance?
- Is there a need to involve first priority heirs by right of representation?
Judicial practice knows a lot of examples where the first heirs to the testator’s apartment disputed their rights and could not reach an agreement. The court explained that among the priority heirs to the property, all close people who are included in this category are taken into account. However, the first of their number is always the spouse who survives the testator. First, all joint property is divided in half between the spouses, only after that the remaining part is divided between him, the children and parents of the deceased in equal proportions. Moreover, it is incorrect to assert that the wife/husband has already received their share and cannot claim the remaining inheritance as an heir. The spouse always receives by law half of what is acquired jointly, and his part is not declared as inheritable property, which is the remaining share of the remaining property. Let's look at an example of dividing an apartment as an inheritance with the participation of the primary heirs: the wife of the deceased and two children. The spouse receives half of the apartment, and all three of them claim the rest. That is, according to the law, she still has ½ of the apartment and one-third of the inherited part, as well as one-third each for the children.
