Inventory of the estate
When a person dies, the first legal arrangement to be made is usually holding an inventory conference of the shareholders of the estate. The inventory conference must be held within three months of the date of death. During the conference, the shareholders, assets and liabilities of the estate as well as certain other details relevant for the division of the estate must be recorded in a paper called Deed of Estate Inventory. We take care of even the most demanding inventories of the estate – professionally and cost-effectively.
Division of the estate
Division of the estate can be carried out after the inventory of the estate has been held. An estate can be divided between shareholders according to a mutual agreement or, if an agreement cannot be reached, on a decision of a court-appointed executor of the estate.
For the shareholders of the estate, a mutual agreement is usually a better solution for a number of reasons, and it is worth pursuing – by seeking professional legal help, if necessary. In inheritance matters, a particularly important skill of the lawyer is to be able to explain to all parties the legal issues related to the division of the estate, and enable them to solve any distribution or inheritance law problems without costly disputes.
If the matter cannot be settled amicably or if it is particularly difficult to make a mutual agreement of the division of the estate due to a large number of shareholders or other such issue, the solution is to ask the court to appoint an administrator or executor of the estate. Even a single shareholder can ask an administrator or executor to be appointed. The administrator then makes an inventory of the estate’s assets and liabilities and prepares the estate to be divided. The executor makes the final decisions on the actual division, if it is impossible for the shareholders to reach an agreement.
We have taken care of a number of inheritance law assignments in the role of an assistant to a shareholder, an administrator or an executor.