[]
AromaticTroubledDormouse
20:56
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
collatio bonorum
Read a random definition: garageman's lien
A quick definition of collatio bonorum:
Collatio Bonorum: A fancy Latin term that means when a parent gives money or things to their children, they have to add it up and share it with all their children when they die. This makes sure that everyone gets an equal share of the parent's stuff. It's like when you have a pizza and you cut it into slices to share with your friends, you want to make sure everyone gets the same amount of pizza.
A more thorough explanation:
Definition: Collatio bonorum (pronounced kuh-lay-shee-oh boh-nuh-rum) is a term used in civil law. It refers to the process of bringing together all the goods or money that a parent has given to their children during their lifetime. This is done so that the parent's personal estate can be distributed equally among all their children.
For example, if a parent has three children and has given one child a large sum of money during their lifetime, the collatio bonorum process would require that child to return some of that money so that all three children receive an equal share of the parent's estate.
This process is also known as hotchpot and is part of the common law of England. It ensures that all children receive an equal share of their parent's estate, regardless of any gifts or money given during the parent's lifetime.