There are several of us heirs and we want to avoid a long and costly legal procedure. How does an amicable division work?
An amicable division requires the agreement of all heirs on the distribution of assets. This procedure is faster, less costly, and preserves family relationships.
Conditions and advantages of amicable distribution:
Requirements:
1- Unanimous agreement of all heirs on the principle and terms of the distribution;
2- Capacity of the parties (special authorization for minors and protected adults);
3- Respect for equal inheritance rights.
Amicable division avoids legal delays (speed), avoids procedural costs (savings), allows for greater freedom in the composition of lots (flexibility), and above all preserves family relationships (peaceful). In the presence of incapacitated persons, amicable division remains possible with the required authorizations (guardianship judge, family council).
The composition of the lots that you will share (the distributable estate):
It consists of:
1- The present assets: that is, the assets left by the deceased on the day of death that have not been bequeathed and their proceeds since death (e.g., rent received) + the assets that have replaced those sold in the period between death and distribution (e.g., an apartment sold, the proceeds of which were used to purchase another asset).
2- The value of certain gifts made during the deceased’s lifetime to heirs, when these are considered as an advance on their inheritance. These are added fictitiously to restore equality between you.
3- The value of gifts or bequests that are too large and would have affected the minimum protected share of the other heirs (known as the “reserved portion”).
4- The deduction of debts and expenses, i.e.: the debts of the estate (loans, bills, taxes, etc.), funeral expenses, notary and division fees, as well as sums advanced by the heirs to settle all of this.
Valuation: Assets are valued on the date of distribution according to their condition on the date of death (Article 829 of the Civil Code).
Practical details of amicable distribution:
If you are an heir, you are free to divide up the assets as you wish, but you must respect the principle of equal rights in the estate—although it is possible to make preferential allocations (the family home goes to the spouse, the business to the heir who runs it). Formalities of the deed of distribution: this is generally required to be done by notarial deed (particularly for real estate).
Gaëtan ESCUDEY, a lawyer trained in international family law and mediation, will assist you at every stage of the amicable division of the estate.