Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Monday, September 8, 2008

Dividing personal property

Division_sign_2One of the most difficult parts of estate administration is often dividing the personal effects of a deceased parent or other close family member.  After making specific and general gifts, many of these people leave the residuary of their estates to "their children equally."  Dividing money and shares of stock is easy -- but not so with personal property items where each beneficiary owns an undivided share of each item.

So, if the will did not provide an allocation method, what is the executor (or administrator of an intestate estate) to do?

Earlier on this blog, I mentioned how an auction run by an auction house could be a viable, albeit expensive, option.

I have just learned about an inexpensive ($49) web-based service called eDivvyUp that allows the personal representative to set up an auction-based system which gives beneficiaries/heirs credits, rather than money, to use in bidding on the items.  Although I have not used the system, after reviewing the website, it seems like a very viable and well-designed method of solving this common problem. 


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» eDivvyUp: Your Estate Settlement Auction Tool from Matthew Curtiss, Esq
Earlier in the year, I blawged iGoodbye, an online estate planning document repository. As I love all things tech, I am always on the lookout for new and innovative application for the estate Planner/Estate Administrator. [Read More]

Tracked on Sep 8, 2008 12:08:00 PM


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