Hotchpot means a “mixture of property.” It is the process of putting together or mixing various properties in order to achieve equal division among beneficiaries or heirs.
For example, an estate may contain securities, personal belongings, and real estate which are part of the residuary estate to be given to "my children to share alike." To make such a distribution possible, all of the items are put together and then divided equally.
[Last updated in April of 2022 by the Wex Definitions Team]