Agreements among family members for the settlement of an intestate's estate will be upheld in the absence of fraud and when the rights of creditors are met. Intestate means that the decedent died without a valid will. The termination of any family controversy or the release of a reasonable, bona fide claim in an intestate estate have been held to be sufficient consideration for a family settlement.
A Guam Agreement Between Heirs as to Division of Estate refers to a legal document created to outline the distribution of assets and properties among the heirs of an individual who has passed away in the U.S. territory of Guam. This agreement is crucial in settling disputes and ensuring a fair division of the deceased's estate. The Guam Agreement Between Heirs is a legally binding contract that establishes the terms and conditions to divide the assets, including real estate, personal belongings, investments, financial accounts, and any other properties owned by the deceased. This agreement is designed to resolve conflicts and avoid lengthy legal battles over inheritance. There are different types of Guam Agreements Between Heirs as to Division of Estate, depending on the specific circumstances and preferences of the individuals involved. Here are some commonly used types: 1. Equal division agreement: This type of agreement ensures that each heir receives an equal share of the estate, regardless of their relationship to the deceased. 2. Proportional division agreement: In this agreement, the estate is divided among the heirs based on their proportional relationship to the deceased. For example, closer relatives may receive a larger share than distant relatives. 3. Specific bequest agreement: This type of agreement allows the deceased to specify certain assets or properties to be assigned to specific heirs as a bequest. It ensures that the individual's intentions are honored and specific items are distributed according to their wishes. 4. Buyout agreement: In certain cases, one or more heirs may wish to sell their share of the estate to the remaining heirs. A buyout agreement establishes the terms and conditions of such a transaction, including the agreed-upon price and payment arrangement. Regardless of the type of Guam Agreement Between Heirs, it is recommended to consult with an attorney experienced in estate planning and inheritance laws in Guam. This legal professional can help draft a comprehensive agreement that reflects the wishes of the deceased, protects the interests of all heirs, and minimizes the potential for future disputes.
