Common Contracts
1 similar null contracts
Redistribution agreement in the administration of deceased estatesJune 21st, 2022
A redistribution agreement can be a useful alternative to the other methods of liquidation of a deceased estate. In particular circumstances, the application of a redistribution agreement can obviate the undesirable consequences of co- ownership or unpractical allocation of assets to the detriment of beneficiaries, which may even give rise to hardship. It is a unique arrangement in the sense that it is something more than a stereotype contract where the beneficiaries, and in appropriate instances a surviving spouse, may freely contract with each other, but may encompass elements of sale, exchange or donation that could serve as “vehicles” for the reallocation of assets. It must be the intention of the parties to re-allocate their vested rights in the estate assets concerned and, to a certain extent, “trade” with these rights.
