What is the ‘Distribution of an Estate’?
The distribution of an estate is the transfer of the net assets of an estate to the beneficiaries (that is, the people the deceased person named to receive their estate/assets in their Will, or those people entitled to receive the assets where there is no Will). It can occur by way of cash transfer (cheque or electronically) or by physical transfer of ownership (e.g. of a property/land title, shares or personal item such as a motor vehicle). Such transfers may have different tax implications depending on the asset, so advice is recommended before assets are transferred.