Arvestus

Arvestus is a term primarily used in Estonian law and legal practice to denote the distribution of an inheritance. It is the process by which the assets and liabilities of a deceased person are formally allocated to their rightful heirs. This process is initiated after a person has passed away and a will, if one exists, has been presented or, in its absence, the legal rules of intestate succession are applied.

The arvestus typically involves identifying all the assets of the deceased, such as property, bank accounts, and personal belongings, as well as any debts or liabilities. A formal inventory is usually compiled. Subsequently, these assets and liabilities are distributed among the heirs according to the terms of the will or the applicable laws of succession. This distribution can involve dividing property, transferring ownership of assets, and settling outstanding debts.

In Estonia, the arvestus process is overseen by a notary. The notary plays a crucial role in ensuring that the distribution is conducted legally and fairly, mediating any potential disputes among heirs, and preparing the necessary legal documentation to formalize the transfer of ownership. The completion of the arvestus legally concludes the estate settlement and confirms the heirs' rights to the inherited property. The process aims to provide legal certainty and a clear resolution for the deceased's estate.