How to Inventory and Distribute Estate Assets Among Multiple Heirs in Delaware

Disclaimer: This article is for educational purposes only and does not constitute legal advice.

Detailed Answer

When a loved one dies, the personal representative (also called executor if named in a will) must gather, appraise and distribute the decedent’s property under Delaware law. Below is a step-by-step overview of that process:

1. Appointment of Personal Representative

The court issues Letters Testamentary or of Administration to the personal representative after probate petitions. This person has the legal authority to act on behalf of the estate.

2. Identify and Secure Assets

Locate bank accounts, real estate, personal property, investments, life insurance and digital assets. Secure homes, vehicles and valuables to prevent loss or theft.

3. Inventory and Appraisal

Within three months of appointment, file an inventory and appraisement with the Register of Wills. Follow Del. Code Ann. tit. 12, § 2051 for required contents and form:

List all real and personal property owned at death.
Include fair-market values as of the date of death.
File under oath and submit any supporting appraisals.

See: Del. Code Ann. tit. 12, § 2051.

4. Pay Debts, Taxes and Expenses

Use estate funds to satisfy valid creditor claims and final taxes. Prioritize expenses in this order:

Funeral and last illness expenses.
Administrative costs, including court and attorney fees.
Debts and taxes.

Failure to follow this order can expose the personal representative to liability.

5. Determine Distributions

If the decedent left a valid will, distribute assets per its terms. If not, Delaware’s intestacy rules apply:

Spouse and issue share the estate. See Del. Code Ann. tit. 12, § 2102.
If no spouse or issue, distribute to parents, siblings, grandparents or next of kin in descending order.

6. Prepare and File a Distribution Plan

Create a written plan showing how assets pass to beneficiaries. Obtain court approval if heirs disagree or if required by the Register of Wills.

7. Distribute Assets

Transfer titles, deliver personal property, and distribute net proceeds. Provide each heir with documentation of transfer and an accounting of estate transactions.

8. Close the Estate

After final distributions, file a closing statement and receipt with the Register of Wills. Obtain a court order discharging the personal representative from further liability.

Helpful Hints

Keep detailed records of every transaction.
Obtain professional appraisals for real estate and valuables.
Notify all potential creditors and publish a notice if required.
Communicate transparently with heirs to reduce disputes.
Honor any funeral or burial instructions stated in the will.
Consult a Delaware probate attorney for complex estates or contested issues.