When a parent dies, the inherited property is not just randomly distributed. The distribution of an inheritance must always be done in an authorized manner. If the deceased made a will before the death, this gives you the authority to divide the estate as an executor or administrator.
If someone dies without a will, the next natural heir will inherit everything. If the last parent dies, the estate is divided between all children. In doing so, you and your brothers and sisters must adhere to the written permission.
Step 1
Provide the correct documents for the distribution of the estate. In many cases this will consist of a valid will and/or last will and testament of the deceased. In the absence of a will or will, the court will appoint an administrator to divide the estate among the next natural heirs.
Step 2
You must be named in the will or will of the deceased to be in charge of the disbursement of the estate, or else you must be appointed trustee by the deceased's municipality.
Step 3
If the will is valid, the authorized city office will accept it as a will and confirm that the representative named in the will has the authority to proceed.
Step 4
Open a bank account in the name of the deceased's estate. All income and expenses for the inheritance must be transferred through this account.
Step 5
In most cases, a will will not account for every piece of property that belonged to the deceased. If the decedent's job is to divide the estate between you and your siblings, you must first account for all available property to allow for a fair and equitable distribution of the estate.
Step 6
Before you can split and divide the property, you must settle any debts or financial obligations owed by the estate. This money must come from the property of the deceased before it is available for distribution.
Step 7
Contact the heirs. Inform them of the distribution of the inheritance they will receive. Request banking information from your siblings so that you can distribute the estate directly into their accounts.
Step 8
Break up the deceased's estate, according to the deceased's intentions. If the instructions are to divide all property evenly between your siblings, you have the authority to use your best judgment as to how to act. For example, if there are two cars available for the estate with a difference in value, you will probably need to make up the difference in cash or other values to make the division equitable.
Have you ever had to deal with dividing an inheritance? Did you run into problems with that?
