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In the succession process in court, the heirs must be identified, the content of the hereditary assets (inheritance) determined, the credits of the deceased can be collected, the debts must be paid, and the assets are delivered. At the beginning of the process, it should also be determined if there is a will and its validity will be studied.
Losing a relative is an exceedingly difficult blow for any family, a complicated situation that takes time to overcome. If that person had assets in his/her name, whether movable or immovable, they must be distributed through an inheritance process whether or not they have left a will. If the deceased left everything in a probate trust, the process is different.
But focused on the succession, there are two types of succession processes, one at a notary’s office, which is feasible when, among the presumed heirs, there is no contention (disputes) regarding the distribution of assets; so the entire process is carried out before a Notary Public; and the other succession process is in court, which can be initiated by any interested person, whether they are heirs or interested third parties.
In the succession process in court, the following procedures are carried out:
– Inventory of the inheritance and a valuation of the assets.
– Appoint an executor to administer the estate while the process is taking place.
– Debts are paid and credits are collected from the deceased.
– Presentation of the final account.
– Declaration of heirs.
– Partition.
The partition occurs when the assets of the inheritance are divided, this can occur by an agreement between the heirs, or if there is no agreement, it will be the Judge who determines said partition.
If you require advice on inheritance law, ERP Lawyers has its team of specialists available to you. Contact us and make an appointment!!