Collatio bonorum, pronounced “kuh-lay-shee-oh boh-nuh-rum,” is a term used in civil law to describe the practice of consolidating all goods or money that a parent has bestowed upon their children during their lifetime. This consolidation ensures that the parent’s estate can be divided equally among all their children upon their death.
For instance, if a parent has three children and has given a substantial sum of money to one child during their lifetime, the collatio bonorum process requires that child to return a portion of that money. This redistribution ensures that all three children ultimately receive an equitable share of the parent’s estate.
In common law, this process is also known as “hotchpot.” It serves as a mechanism to guarantee that each child inherits an equal portion of the parent’s estate, irrespective of any gifts or financial support provided during the parent’s lifetime.
Collatio bonorum is a legal concept in civil law that involves aggregating or bringing together all the gifts or assets that a parent has given to their children during their lifetime. This process ensures that the parent’s estate can be fairly distributed among all their children upon the parent’s death. If a child has received significant gifts or inheritances before the parent’s death, they may be required to contribute or “bring back” some of those gifts to ensure an equal distribution of the parent’s estate among all children. This practice aims to achieve fairness and equality in inheritance among siblings.
Collatio Bonorum is a Latin term that refers to the process of dividing the assets of a deceased person among their heirs.
The executor or administrator of the deceased person’s estate is responsible for conducting Collatio Bonorum.
The purpose of Collatio Bonorum is to ensure that the assets of the deceased person are distributed fairly among their heirs.
All assets of the deceased person, including real estate, personal property, and financial assets, are included in Collatio Bonorum.
The value of the assets is determined by an appraiser or by agreement among the heirs.
If there are disputes among the heirs, a court may be called upon to resolve the matter.
The length of time for Collatio Bonorum varies depending on the complexity of the estate and the number of heirs involved.
Any debts owed by the deceased person are paid off before the assets are distributed among the heirs.
Collatio Bonorum is not required by law, but it is a common practice in many countries to ensure a fair distribution of assets among heirs.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 27th April 2024.
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