- hotchpot
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hotch·pot /'häch-ˌpät/ n [Anglo-French hochepot, from Old French, thick soup or stew, from hochier to shake + pot pot]1: the combining of properties into a common lot to ensure equality of division among those entitled to a share of an estate which requires that advancements (as to a child) be made up to the estate by contribution or by an accounting compare collation2: main pot
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- hotchpot
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the mixing together of property belonging to different persons with a view to dividing it equally. In English succession law it describes the bringing into account of the benefits received by a beneficiary prior to the death of an intestate. All advances to children must be taken into account: Administration of Estates Act 1925. It has been abolished for deaths after 1995. For Scotland, See collatio inter haeredes, collatio inter liberos.
Collins dictionary of law. W. J. Stewart. 2001.
- hotchpot
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Putting together or mixing various properties in order to achieve equal division among beneficiaries or heirs. For example, an estate may contain cash, securities, personal belongings, and even real estate which are part of the residue of an estate to be given to "my children, share and share alike." To make such distribution possible, all of the items are put in the hotchpot and then divided.Category: Wills, Trusts & Estates → Wills
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- hotchpot
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England, WalesLiterally, a "mixture of property".Broadly, hotchpot clauses and rules apply to trusts and wills, to ensure fairness to the beneficiaries by taking into consideration amounts already received when calculating the final amount due to the beneficiaries under the terms of the trust or will.For deaths before 1 January 1996, the Administration of Estates Act 1925 specified gifts to be taken into account where there was an intestacy or partial intestacy, but these rules were abolished by the Law Reform (Succession) Act 1995 for deaths on or after that date.• A hotchpot clause in a trust document usually requires the value of all the trust's assets, including sums the beneficiaries have already received from that trust, to be added together in order to ensure an equal division between the beneficiaries when the trust comes to an end. If the trustees are exercising a power of advancement under section 32 of the Trustee Act 1925, any advances to a beneficiary must be taken into account when the beneficiary becomes entitled to his or her share of the trust capital.• A hotchpot clause in a will usually requires the personal representatives to take account of lifetime gifts made to the beneficiaries by the testator, when calculating the amount they are to receive under the terms of the will.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- hotchpot
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The process of combining and assimilating property belonging to different individuals so that the property can be equally divided; the taking into consideration of funds or property that have already been given to children when dividing up the property of a decedent so that the respective shares of the children can be equalized.
Dictionary from West's Encyclopedia of American Law. 2005.
- hotchpot
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The process of combining and assimilating property belonging to different individuals so that the property can be equally divided; the taking into consideration of funds or property that have already been given to children when dividing up the property of a decedent so that the respective shares of the children can be equalized.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- hotchpot
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n.the putting together, blending or mixing of various properties in order to achieve equal division among beneficiaries or heirs. There may be cash, securities, personal belongings, and even real estate which are part of the residue of an estate to be given to "my children, share and share alike." To make such distribution possible, all of the items are put in the hotchpot and then divided.
Law dictionary. EdwART. 2013.
