1200 E Woodhurst, Suite T-200, Springfield, MO 65804

How To Divide Personal Property In An Estate

How To Divide Personal Property In An Estate

When a loved one dies, dividing personal property among family members can sometimes be emotionally and legally challenging. In most cases, there are usually no major disagreements on personal property, and all goes fine. However, sometimes heirs can get very particular about certain items, especially when sentimental value attaches. As opposed to an equal share of money, what constitutes “an equal share” of personal property or tangible goods? How can one ensure equality and fair treatment?

Understanding the process and the laws governing the division of private property in an estate can help alleviate some of the stress during this difficult time. In Missouri, specific guidelines and regulations dictate how personal property is distributed among beneficiaries. Whether you are an executor, a beneficiary, or simply seeking information on this subject, we are happy to provide insights into the estate division process and highlight important considerations under Missouri laws.

 

Understanding Personal Property in an Estate

In the context of an estate, personal property refers to all movable property owned by the deceased at the time of their death. Essentially, personal property can be considered any property that is NOT real estate (also called “real property”), such as houses or land, which are immovable.

In Missouri, personal property can include a wide range of items, and can be categorized as follows:

  • Tangible Personal Property (Untitled): This includes physical items such as furniture, vehicles, jewelry, artwork, clothing, and personal effects, or any personal property without a title. This category would also include pets!
  • Titled Personal Property: Cars, Trucks, Motorcycles, boats, motors, trailers, mobile homes, and other items with state issued titles.
  • Intangible Personal Property: Non-physical assets like stocks, bonds, bank accounts, patents, royalties, insurance policies, and debts owed to the deceased.

Dividing personal property in an estate is paramount in estate planning and execution. Here’s why:

  • Fulfilling the Deceased’s Wishes: If the deceased left a Will, following their instructions regarding the division of personal property is crucial. This ensures that their wishes are respected and carried out.
  • Preventing Family Disputes: Clear, fair division of personal property can prevent conflicts among family members, maintaining harmony during a difficult time.
  • Adhering to Missouri Laws: If there’s no Will, the division of personal property must be carried out according to Missouri’s intestacy laws. This ensures the process is legal and above board.
  • Ensuring Equitable Distribution: Each heir will usually have some legal right to share the personal property. Proper division ensures that everyone receives what they are entitled to.

 

Legal Considerations

When dividing personal property in an estate, Missouri law lays out several important considerations:

  • In Missouri, the division of personal property follows the terms mentioned in the deceased’s Will, if available. A valid Will or estate plan in Missouri can provide explicit instructions for dividing personal property. This is the most straightforward method for distribution, as it reflects the deceased’s intentions. The Will also usually provides for a Personal Representative to oversee the distribution process.
  • If no Will exists, Missouri law dictates who will inherit personal property. Missouri has an entire system of “intestate succession” that identifies who a deceased person’s heirs are, typically starting with spouse and/or children, then moving further out on the family tree to other relatives if there are no spouse or children, or any of them are deceased.
  • Role of the Personal Representative: Please keep in mind, whether or not there is a Will, that there is no Personal Representative until one is appointed by a Court. Simply being named in a Will means one is “nominated”; the Court must order the Personal Representative appointed. The Personal Representative has crucial role in distributing personal property. They are responsible for the gathering and inventory of all the estate’s private property, appraising it if necessary, and distributing it according to the Will or Missouri law.

At Piatchek Law Firm, LLC, our attorneys can guide Executors and Personal Representatives through the complexities of the division process, ensuring all actions align with Missouri law and the wishes of the deceased.

 

Methods for Dividing Personal Property

1. If specified in the Will or an attached list:

In Missouri, a Will or an attached list can distinctly specify who inherits each piece of personal property. In this case, the division process becomes clear-cut, as it primarily involves executing the deceased’s instructions. For instance, a Will might state that a specific item would go to a specific child who has always loved and taken care of it.

This method of using a list is actually referred to under state law, and is the most common method used to delineate who will receive various items of tangible, personal property pursuant to a Last Will and Testament.

Assuming the parties are fairly agreeable, there are also some other following methods that might be of use when dividing personal property, as follows.

 

2. Drawing lots and rotating picking order:

Without a Will or specific instructions, one fair way to divide personal property is by drawing lots and rotating the picking order. For example, if there are three beneficiaries, lots are drawn to decide who picks first. After the first selection round, the picking order rotates, so the second person gets to pick first in the next round, and so on. This method gives each person an equal chance of claiming their preferred items.

 

3. Using the colored stickers method:

Another practical approach is using colored stickers. Each person gets a color and uses stickers to mark their desired items. For example, if a family heirloom is stickered by multiple people, this can open a conversation about how to distribute the thing fairly. This method is simple and can prevent misunderstandings.

 

4. Getting an appraisal:

An appraisal might be necessary for valuable items to determine their exact monetary value. For example, belongings like antiques, cars, or artwork may require a professional review. This helps ensure the property’s fair division by balancing higher-value items with other assets.

 

5. Making copies of belongings, if applicable:

Making copies is a viable solution for certain non-divisible items, such as family photos or cherished recipes. This ensures every family member can maintain a piece of their shared history.

 

6. Utilizing online services for cataloging and dividing property:

In this digital age, several online services can help catalog and divide personal property.  These platforms allow for easy inventorying and equitable division, reducing potential disputes and streamlining the process.

 

7. Working with a senior move manager or mediator:

Senior move managers or mediators can provide valuable, impartial assistance in dividing property. For example, they can help sort through many household items, decide which to keep, sell, or donate, and mediate potential disagreements among heirs.

 

8. The role of estate attorneys in mediating disputes:

In cases where disputes arise, estate attorneys can be instrumental in mediating and ensuring that the division complies with Missouri’s laws. For example, at Piatchek Law Firm, LLC, our attorneys can help parties navigate disputes over personal property, striving for a resolution that respects the deceased’s wishes and Missouri law.

 

9. Sale of Personal Property:

In some cases, where the Will demands it, or when the Personal Representative requires it, personal property may be sold and turned into money, which money is then easily turned into percentages or equal shares, making division of the property itself unnecessary.  

 

Challenges in Dividing Property

Dividing personal property in an estate can sometimes offer challenges, from legal disputes to emotional conflicts and family dynamics. Here are some common issues that may arise during this process:

1. Disputes and Conflicts

It’s not uncommon for conflicts to surface when dividing personal property—especially when there are high-value items or sentimental belongings at stake. In Missouri, if these disputes can’t be resolved through conversation, it may be necessary to involve a mediator or an estate attorney. At Piatchek Law Firm, LLC, we help guide families through these difficult discussions, striving for a resolution that aligns with the deceased’s wishes and Missouri law.

 

2. Emotional Aspects of Property Division

The division of personal property isn’t just a legal process—it’s also an emotional one. Personal belongings often carry deep sentimental value, and their distribution can trigger strong emotions. It’s crucial to handle these situations with sensitivity, allowing space for grief, nostalgia, and other emotions that may arise while also maintaining fairness and respect for the law.

 

3. Impact of Family Dynamics

Family dynamics can significantly affect the division of property. For instance, longstanding tensions or resentments that have been under the surface for many years, can suddenly resurface during this time, complicating the process. Open, respectful communication is essential in navigating these dynamics; however, in more challenging cases, involving an external mediator or estate attorney may be beneficial to facilitate the process.

 

Navigating Personal Property Division with Ease

The division of personal property can be a complex, emotional process, but it certainly does not have to be. From understanding what constitutes private property to exploring different division methods and navigating family dynamics, there are many factors to consider. In Missouri, respecting our state laws and involving professional help to ensure a smooth, fair process is crucial.

Whether the deceased left a Will or not, understanding the intricacies of property division can prevent disputes and ensure that everyone involved feels respected and heard. Remember, the ultimate goal is to honor the deceased’s wishes and uphold Missouri law while maintaining family harmony.

At Piatchek Law Firm, LLC, we’re dedicated to helping you navigate the personal property division with a high level of experience, sensitivity, expertise, and a keen understanding of Missouri law. Whether you’re drafting an estate plan or tasked with executing a loved one’s Will, we’re here to guide you every step of the way.

Share:

Leave A Comment

Call Now Button