Legal Definitions - assets entre main

Assets entre main is a legal term, originating from French, that refers to assets that an executor or administrator of a deceased person's estate has actually taken possession of or has legal control over. These are the assets that the representative has "in hand" and is responsible for managing, protecting, and ultimately distributing according to the will or the law. It distinguishes these assets from those that might belong to the estate but have not yet come under the representative's direct control.

Here are some examples illustrating this concept:

• Example 1: Managing a Personal Estate

  Imagine an executor, Sarah, is managing the estate of her recently deceased uncle. Her uncle had a bank account with $50,000, a classic car, and a collection of antique watches. After obtaining the necessary legal documents (like letters testamentary), Sarah visits the bank to transfer the funds into an estate account, takes possession of the car keys and title, and secures the watch collection in a safe deposit box. At this point, the $50,000 in the estate account, the classic car, and the antique watches are all considered assets entre main because Sarah, as the executor, has taken direct control and responsibility for them.

• Example 2: Overseeing a Deceased's Business Interests

  Consider an administrator, David, who is appointed to manage the estate of a deceased individual who owned a small consulting firm. The firm has outstanding invoices, a business bank account, and office equipment. David's first steps involve notifying clients of the owner's passing, collecting payments for the outstanding invoices, gaining access to the business bank account, and inventorying the office equipment. Once David has successfully collected the invoice payments, transferred the business funds into an estate account, and secured the office equipment, these items become assets entre main. David is now legally accountable for managing these business assets as part of the overall estate.