The distribution of the estate can begin once the estate has been settled and, if the decedent was married, the distribution of matrimonial property has been carried out. In practice, this means carrying out the distribution of the property subject to the marital right between the surviving spouse and the estate of the first deceased spouse or between the estates of both spouses. If there is no matrimonial property, the property must be divided between the parties accordingly.
Consensual shareholders can agree on the distribution of the estate.
The shareholders draw up a deed of distribution, which must be signed by each shareholder to be legally binding. The deed of estate distribution must also be signed by two qualified witnesses.
The distribution of the estate must be carried out in accordance with strict formalities, which is why a good option is to have a specialist lawyer draw up the deed of distribution. In this way, tax considerations can also be taken into account.
An estate distributor is applied for if the partners want the estate to be distributed by an impartial and competent party. Sometimes, an estate distributor is considered necessary if there is no chance of agreeing on the distribution of the estate. Furthermore, the involvement of a minor shareholder may justify the need for an estate distributor. An application for an estate distributor is made to the district court in the same way as an application for an estate administrator.
If an estate distributor has been appointed, he or she will distribute the estate. The administrator also has other duties, such as valuing the property if the partners have different views on the value of the property in the estate. The estate may be distributed in whole or in part.
The distribution of the estate by the estate distributor can be contested by bringing an action for annulment before the district court. However, the distributions made by the appointed estate distributors remain mostly unchanged. Such actions are therefore rarely brought.
With more than twenty years of experience, we offer our clients a personalised and client-oriented service in various areas of family property law. Whether your matter falls under family law or inheritance law, we always handle it efficiently, without forgetting the human aspect.
The area of family law usually includes financial matters relating to marriage and cohabitation, as well as child custody, living arrangements, right of access and maintenance.
Before proceeding with the distribution of the estate, a deed of estate inventory, which is a list of the deceased’s assets and liabilities, must first be drawn up and the estate must be settled. Only then can an agreement on the distribution of the estate be concluded.
Inheritance tax planning emphasises the importance of properly prepared documents in good time. A continuing power of attorney is a document that allows you to take care of your own affairs over your lifetime well in advance. You can plan for the distribution of your assets and their tax treatment by having a comprehensive deed of gift and/or testament in place.