Inheritance division
The distribution of the inheritance takes place after probate
Once the will has been drawn up, the estate can be divided. In the distribution of the estate, the property is divided between the partners named in the deceased's will. The inheritance can be divided either by agreement or by delivery.
Dividing your inheritance by agreement
The partners in the estate can agree among themselves on the distribution of the estate. A deed of distribution is always drawn up. The property distributed on the basis of the deceased's will is registered in the names of the beneficiaries. The distribution becomes binding on the partners when they all accept it and it is witnessed by two unobstructed persons.
Division of the estate by order of the district court
If the partners cannot agree on the distribution of the estate, one partner can apply to the district court for the appointment of an administrator for the estate. The administrator must be a lawyer. In the case of a distribution by the administrator, i.e. a formal distribution, the distribution deed is signed by the administrator on behalf of the partners.
Distribution and partitioning of inheritance
Before the distribution of the estate, the following must be submitted stratification, if the deceased was married and did not have a prenuptial agreement.
Distribution of inheritance and debts
Before the estate is distributed, all debts are paid off. Any breach of this provision will expose the partners to personal liability and it is therefore important to ensure that the debts are paid before the distribution.
Tuula Rainto, [email protected], 045 111 5577
"My mother's estate consisted of me, my three siblings and one half-brother. My mother's will was taken as the basis for the distribution of the estate. My mother left me a summer cottage, a residential property and bank assets. We held two probate meetings at Amos Law Office, after which the inheritance was divided in a way that made sense for everyone."
Execution of the distribution of inheritance
Inheritance is distributed by the heirs dividing the property as they wish. The distributor, on the other hand, distributes the assets in such a way that each partner is given a share of all types of property. However, the purpose of the distribution is not necessarily to establish, for example, joint ownership. If the assets of the estate to be divided are not easily divisible, the division is carried out by selling the assets and distributing the proceeds to the heirs. Such a situation may arise, for example, if the estate's assets consist mainly of the deceased's home or summer cottage.
Entitlement of the surviving spouse to a share of the estate
A will cannot override the right of the heirs at law to a share of the estate.
The heirs always have a right to a share in the estate after the deceased. If the deceased had children, they are his or her heirs. If the children are deceased, their children are their heirs.
Under the law, the heir is entitled to an inheritance equal to the property to be inherited divided by the number of heirs.
Example:
If there are four breast heirs, the share is 1/4. However, if the property has been left by will to someone other than the heir, the heir is still entitled to his/her share. The legal portion is half of the inheritance, i.e. if there are four heirs, the legal portion is 1/8 of the property to be inherited.
The distribution of the inheritance must be made in writing
The distribution of the inheritance takes effect upon signature and certification of the deed.
The distribution of inheritances can be criticised
The partners in the estate may challenge the distribution of the estate before the district court within six months of the distribution being made. The objection may be based on a formal error in the distribution, such as the absence of a signature, or on a substantive ground, such as a mistake in the distribution.
Succession and Amos Law Firm
Our office assists in contractual distributions of estates by assisting in the preparation of the deed of distribution. We also act as an administrator in the distribution of estates, if required. Call us free of charge if you have any concerns about the distribution of your estate.
Tuula Rainto, [email protected], 045 111 5577
"My mother's estate consisted of me, my three siblings and one half-brother. My mother's will was taken as the basis for the distribution of the estate. My mother left me a summer cottage, a residential property and bank assets. We held two probate meetings at Amos Law Office, after which the inheritance was divided in a way that made sense for everyone."