Distributions of a Decedent’s Personal Property and Disputes Concerning Same

When a loved one or friend passes away, they often leave a large amount of personal property to be distributed. This article addresses the distribution of a decedent’s personal property and disputes concerning its distribution.

There are numerous ways a decedent can dispose of their personal property. They can create a specific list as to who is to receive the items, they can have their items of personal property sold, or they can leave it to their children as to how to distribute their items of personal property. This article addresses the final scenario where the decedent’s children or heirs have to divide the items of personal property in the absence of specific directions from the decedent.

The division of a decedent’s personal property typically deals with items of little or no value aside from sentimental value, as well as items which may possess significant value. As to the items of little or no value, there may be negotiations between a decedent’s heirs concerning their distribution, and provided all sides are treated fairly this is typically how these issues are resolved. In essence it becomes a game of give and take. Should the decedent possess items of significant value, however, their division may be a little trickier.

Should the decedent possess items of significant value, then in that event, it is often necessary for the estate to obtain an appraisal as to the value of these items, as they will increase the value of the decedent’s estate that is to be distributed.

The heirs of the decedent’s estate can agree to distribute these items of valuable personal property if they are able to reach an agreement as to same. Should there be a disparity in the value of an item that an heir might receive, an adjustment can be made by making a greater distribution of liquid assets to the heir who did not receive the valuable item to equalize any such distribution.

Should a dispute arise between heirs as to the distribution of a valuable item, this dispute may be resolved by selling the item, and thereafter, the proceeds from the sale can transferred to the estate for distribution. Typically, the final duty of the executor in addressing a decedent’s personal property would be to sell any remaining valuable items via auction with the proceeds being transferred to the residuary estate.

Once that occurs, the proceeds can be divided among the decedent’s heirs according to the Will. At times, there is a lot of mixing and matching when distributing personal items, however, the goal of the executor is always to equalize distributions of personal property.

Should you be an heir to an estate where they are many items of significant value which are to be distributed, it may be a good idea to consult with competent counsel to ensure your fair treatment.