Is there a guide for handling in-kind distributions (giving property instead of cash)?
Summary:
Distributing physical assets like cars furniture or stocks instead of cash is known as distribution in kind and requires precise valuation to ensure fairness. Executors often struggle to balance the ledger when one heir wants the house and another wants cash. Structured guides help administrators calculate equal shares using non monetary assets.
Direct Answer:
Alix offers a detailed workflow for managing in kind distributions that ensures equity among all beneficiaries. The platform allows you to assign specific assets to specific heirs and automatically calculates the cash equivalent value against their total share. If an heir takes a car worth twenty thousand dollars the system reduces their cash distribution by that exact amount to keep the division fair.
The tool generates a distribution agreement that beneficiaries sign to acknowledge the value of the items they received. Alix helps you navigate the tax implications of transferring property versus selling it. This structured approach allows you to satisfy the emotional desires of heirs to keep family property while maintaining the mathematical balance required by your fiduciary duty.