Inventory of inheritance assets: what is it for?

The inventory of inheritance assets serves to protect patrimony when there is a fear that goods, documents, or valuables may disappear, be hidden, damaged, or diverted before the distribution. It is a particularly useful measure when the family does not yet know exactly what exists, when there is distrust among heirs, or when someone has exclusive access to the deceased's assets.

In an inheritance, time can work against everyone. A house can be emptied, jewelry can disappear, documents can be withdrawn, accounts can be moved, and vehicles can be used without control. When this happens, discussing the division months later may be too late.

The inventory of inheritance assets is a precautionary measure. Simply put, it's an urgent measure that allows for the identification, listing, and safekeeping of assets or documents to prevent their loss, concealment, or dissipation. Portuguese law provides for an inventory when there is a justified fear that movable or immovable property or documents may be diverted or disappear.

In this article we explain what an inventory is for, when it can be requested, who is entitled to do so, what assets can be included, what evidence must be gathered, and how this measure relates to the division of inheritance.

What is the inventory of inheritance assets?

The inventory of inheritance assets is a judicial measure intended to preserve assets or documents. Its purpose is not to divide the inheritance, nor to immediately decide who gets each asset. The main goal is to protect the estate until a decision, inventory, or division of assets is made.

In practice, inventorying allows for the creation of a formal list of existing assets and, when necessary, entrusting these assets to someone's safekeeping. It can include real estate, vehicles, money, jewelry, furniture, works of art, documents, contracts, equipment, items kept at home, items in safes, and even documentation related to companies or shareholdings.

Inventorying the assets of an inheritance is particularly important when there is a risk that the assets may be removed, sold, hidden, or used by only one heir without the oversight of the others.

What is the purpose of an inventory?

The main purpose of inventorying is to preserve. This means protecting assets while the inheritance has not yet been divided.

The summary inventory does not automatically deliver assets to an heir. Nor does it replace the probate process. What it does is prevent a situation where, when the time comes for the division of assets, there are no longer sufficient assets or it is no longer possible to prove what existed.

This measure can be used to identify assets, prevent the disappearance of objects, protect relevant documents, prevent the dissipation of assets, preserve evidence for inventory, and reduce the risk of unauthorized sale.

It can also help create a more objective basis for the future inventory of assets. When heirs discuss what was in the deceased's house, the inventory can prevent the conversation from turning into mere accusations without proof.

If you are still trying to understand what heritage existed, you can also consult the article about How to find out about the assets of a deceased person.

When does it make sense to request an inventory of an inheritance?

Inventorying inheritance assets makes sense when there is a real risk to the assets or documents. It's not enough to say there is suspicion. It's necessary to explain why there is a fear of loss, concealment, or dissipation.

It may make sense to request an inventory when an heir has changed the locks and prevents access to the house, when there is jewelry or money without control, when there are important documents that may disappear, or when a property is being emptied.

It may also be necessary when someone is selling assets without an agreement, when there are unexplained rents, when the head of the household does not provide information, or when there is suspicion of asset concealment.

The more concrete the risk, the stronger the request. It's different to say "I don't trust my brother" than to state that "my brother changed the locks, removed furniture from the house, and refused to hand over a list of the belongings." The first example reveals distrust. The second describes facts.

Who can request an inventory of inheritance assets?

An inventory can be requested by anyone with an interest in preserving assets or documents. In the context of inheritance, this could include heirs, the head of the estate, legatees with a specific interest, creditors in certain situations, and other interested parties with a direct connection to the estate.

The essential point is to demonstrate a legitimate interest. Whoever requests the inventory must explain why those assets or documents need protection and how their disappearance could harm the inheritance or their rights.

For example, an heir who cannot access the deceased's house and suspects that assets are being removed may be interested in requesting an inventory of the estate. The same can happen when bank, tax, or asset documents are only in the possession of one person and there is concern that they may be concealed.

Does probate replace the process of identifying heirs?

No. The qualification of heirs and the inventory have different functions.

The declaration of heirs serves to identify who the successors of the deceased are. It is an essential document to prove heirship to banks, public entities, land registries, and other stakeholders.

The inventory of inheritance assets, on the other hand, serves to protect assets or documents when there is urgency and risk of disappearance.

These are different instruments, although they may arise in the same family situation. First, it may be necessary to prove who the heirs are. Then, if there is a risk to the assets, an inventory may be justified.

If you haven't yet addressed this step, see the articles about it. Grant of probate e Documentation for the accreditation of heirs in Portugal.

Are inventory and list of assets the same thing?

No. The inventory of assets is a list of the assets and liabilities that make up the inheritance. It is used for tax, inheritance, and division of assets purposes.

Inventory is a precautionary measure. It serves to protect assets or documents when there is a fear that they may disappear, be hidden, or be dissipated.

The practical difference is simple: a list of assets organizes the inheritance; an inventory protects assets at risk.

If everyone cooperates, hands over documents, and allows access to the assets, preparing an accurate inventory of goods may be sufficient. However, if someone prevents access to the house, removes objects, or hides documents, it may be necessary to request an inventory.

To better understand the content of this asset list, read the article about it. list of assets in the inheritance.

Can an inventory be requested before the probate process?

Yes. In many cases, the inventory of inheritance assets is requested before or in parallel with the main legal proceedings.

This happens because the goal is to act quickly. If it becomes necessary to wait for the inventory or division of assets to be finalized, the measure may lose its usefulness.

Imagine there are movable goods in a house and an heir is removing them. If the family waits months for the division of assets to be discussed, there may be nothing left to divide.

Therefore, the inventory process can be used as an urgent instrument to preserve assets while preparing the division of property, probate, or other related action.

When an inheritance is frozen and no one can reach an agreement, it may be necessary to proceed to... Judicial division of inheritance.

What assets can be listed?

Movable property, immovable property, and documents can be listed. Movable property includes all objects that can easily disappear or be moved.

It is common for an inventory to include money, jewelry, watches, paintings, furniture, collections, equipment, vehicles, personal documents, contracts, deeds, certificates, bank documentation, tax documentation, and documents related to businesses.

Real estate may also be involved, especially when there is a need to identify, preserve, or prevent acts that could harm the inheritance.

The request should be made with as much detail as possible. The clearer the identification of the assets, the more effective the measure will be. If you know that certain jewelry, furniture, documents or valuables existed, this information should be specified concretely.

Is it possible to list documents?

Yes. The inventory can also include documents. This part is often forgotten, but it can be crucial in an inheritance.

Wills, purchase and sale agreements, property registration documents, certificates, bank statements, insurance policies, lease agreements, rent receipts, tax documents, powers of attorney, and debt declarations can be essential to determine the deceased's true assets.

Without documentation, it can be difficult to prove assets, values, income, or rights. Therefore, when there is a risk of concealment of documents, inventorying assets can be as important as the physical protection of those assets.

In a succession dispute, whoever controls the documents often controls the information. And whoever controls the information can influence the entire sharing process.

The role of the head of household in the probate process.

The head of the household manages the inheritance until its division. They must protect the assets, provide information, and collaborate in the organization of the estate.

But in practice, there are two very different situations.

In the first scenario, the head of the household requests the inventory to protect assets against the actions of third parties or other heirs. In this case, they are using the measure to fulfill their duty of preservation.

Secondly, the heirs request the inventory because they suspect the actions of the head of the household. This can happen when there is a lack of information, refusal to show documents, unexplained withdrawals, income received without accounting, assets removed from the house, or an incomplete list of assets.

If the main problem is a lack of transparency, also read the articles about... accountability of the head of household e removal of the head of household.

What evidence should you gather before requesting an inventory?

Evidence is essential. The request must demonstrate that there is a serious and justified concern.

Useful documents may include photographs of the belongings, videos of the house before the removal of items, messages between heirs, letters, emails, witness statements, property deeds, bank statements, rent receipts, purchase invoices, communications with banks, and proof of lock changes.

Online announcements, messages about the sale of goods, photographs of empty rooms, or documents showing that certain objects belonged to the deceased can also be important.

The request should tell the story chronologically. First, it should indicate the date of death. Then, it should explain what assets existed, who gained access to them, what behaviors raised concerns, and what attempts were made to obtain information.

This sequence helps to demonstrate that inventorying assets is not a whim, but a necessary measure.

Does probate allow entry into an inherited house?

An inventory can allow for necessary intervention to identify and preserve assets, but it should not be confused with informal authorization to forcibly enter a property.

If an heir is preventing access to the house, it is not advisable to break down doors, change locks, or remove objects on your own initiative.

The safest course of action is to request an appropriate legal measure. This intervention may involve the description of the assets, their safekeeping, and the appointment of a custodian, as determined in the proceedings.

Acting without proper guidance can transform the person who wanted to protect their inheritance into the instigator of new conflicts.

Who will be designated as the custodian of the assets?

In an inventory proceeding, a custodian may be appointed. The custodian is responsible for the safekeeping of the inventoried assets and must preserve them.

Depending on the case, it could be the person who already owns the assets, the head of the household, another heir, a suitable third party, or an appropriate entity.

The choice depends on trust, risk, the nature of the assets, and the specific situation. If the problem is precisely the person who has the assets in their possession, it may make sense to request that custody be assigned to another person or that rules for their preservation be established.

The custodian does not become the owner of the goods. They are only responsible for their safekeeping and preservation.

Does listing the assets as an inventory prevent their sale?

An inventory is not a division of assets, but it can make it more difficult or prevent the improper dissipation of the inventoried assets.

When an asset is formally identified and subject to safekeeping, it becomes more difficult to claim ignorance, conceal its existence, or sell it without consequence.

However, if there is a specific risk of sale, it may be necessary to combine the listing with other appropriate requests or measures.

For example, if a property is involved, it may be necessary to analyze records, the legality of the sale, and any potential need for probate proceedings.

If your concern is related to the sale or division of assets, see the article on... division of assets among heirs.

Inventory when an heir is using the house alone.

This is one of the most common scenarios. An heir moves into the deceased's house, prevents the others from accessing it, and controls all the belongings inside.

In this situation, two different problems can arise. On the one hand, the exclusive occupation of the house. On the other, the risk of loss of belongings and documents.

Inventorying the inherited assets can help identify and preserve what is inside the property. However, discussions about exclusive use, compensation, or leaving the house may require further steps.

For this specific topic, please refer to the article on... heir is using the house alone.

Does the inventory process determine who owns the assets?

No. This is a fundamental idea.

The inventory process does not definitively determine ownership of assets. Nor does it resolve the division of property. It only protects and identifies the assets.

The discussion regarding who is entitled to each asset will take place during the division of property, in the probate process, or in another appropriate legal proceeding.

This means that an asset can be listed even when there is still discussion about whether or not it belongs to the inheritance. The main point is that there is an interest in its preservation and a fear that it may disappear or be dissipated.

The inventory serves as a formal snapshot of the assets at a specific moment. The final decision regarding the division will come later.

Does inventorying have costs?

Yes, there may be procedural costs and costs associated with the execution of the measure.

There may be court fees, attorney fees, notification costs, expenses related to carrying out the procedure, any custodian costs, and other expenses necessary for the identification or preservation of the assets.

The cost must be weighed against the risk. When valuable assets, essential documents, or easily concealable property are involved, inventorying can prevent far greater losses.

In many situations, the real cost is not in requesting the measurement. It's in waiting too long and discovering that the goods have already disappeared.

What happens after the inventory?

After the decree is issued and executed, the assets are identified and subject to the rules defined in the process.

From there, the family must move forward to resolve the inheritance. The summary inventory is a temporary protection. It does not replace the qualification of heirs, the list of assets, the inventory, the valuation of assets, the negotiation or the division of assets.

After the inventory is finalized, it may be necessary to render accounts, correct the list of assets, appraise real estate, discuss compensation payments, or initiate probate proceedings.

The ultimate solution remains sharing.

If you want to understand the overall sequence, read the article about it. How to share an inheritance.

Common mistakes when requesting an inventory.

An inventory can be very useful, but it must be well prepared. One of the most frequent mistakes is requesting the measure based only on vague suspicions, without explaining which assets are at risk and why they might disappear.

It is also common to confuse inventory with division of assets. Inventory protects. Division of assets divides.

Another dangerous mistake is waiting too long. If there are already signs that goods are being removed, sold, or hidden, delaying can render the item useless.

It is also not advisable to enter a house, remove objects, or change locks on your own initiative. Even when there is reason for concern, such actions should be taken carefully and within the appropriate legal framework.

When should you seek legal advice?

Legal support is especially important when there is a risk of assets disappearing, when an heir is preventing access to the house, when there are jewels, money or valuable objects, or when documents are in the possession of only one person.

You should also seek help when the head of the household fails to provide information, when there are unexplained rents or assets, when locks have been changed, when the inheritance includes businesses or shareholdings, or when there is a serious conflict between heirs.

A lawyer can help gather evidence, prepare the petition, determine which assets should be included, and coordinate the inventory with the division of assets.

Conclusion

The inventory of inheritance assets serves to protect the estate before it's too late. When there is concern about the loss, concealment, or dissipation of assets or documents, this measure can prevent the division of assets from being made on an incomplete inheritance.

It is not a solution for all inheritance problems, nor does it replace the division of assets. But it can be crucial for preserving real estate, objects, valuables, and essential documents until the heirs are able to resolve the inheritance issue.

If you suspect that assets are disappearing, that documents are being hidden, or that someone is controlling your inheritance without transparency, talk to our experts. Probate and inheritance lawyers. For a legal analysis tailored to your case, you can also consult a... Solicitor.