Reply to Parents wanting to leave $1M home to sibling

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[quote=Anonymous]My mother and her three sisters received a mountain lake vacation home when their parents died. They came up with a summer schedule so that all 4 families could enjoy it equally. It was awesome for years. As the sisters got older and their children grew up, three of the sisters realized that there was no way to leave the house fairly to all of the various cousins, and wanted to sell the house outside the family. Fourth sister steadfastly refused, and her lawyer son got involved. The fourth sister ended up buying it from the other sisters, the process causing a family rift that never healed. She passed the house on to her children when she died. The relatives who didn’t receive any rights to the house that they spent large parts of their childhood in could never really get closure on that loss because the house was still in the extended family, with cousins sharing stories, photos, etc. of the wonderful times they were still having there.

Fast forward 25 years, and the SAME EXACT THING happened with her children/ my cousins. There was inequity and disagreement over use and sale of the house, the same lawyer cousin being in the center of it all and causing a rift with his siblings.

In my experience, sharing real estate with adult siblings sounds awesome, and can be awesome, until it turns so ugly that the fallout is remembered for generations. [/quote]

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