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Reply to "Advising parents on how to set up will"
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[quote=Anonymous]If they are well off and are setting up trusts for your kids, just have the summer house appraised when your last parent dies and pay your sister 50% of fmv. If neither of you want the other house, you will be selling it and will have proceeds from that to pay her. The alternative is together you sell both voided and then you can go buy a new summer house for your family. You are as bad as she is if you are quibbling about having to buy her out of an asset you will co-own. This is how it’s done and there is no reason she shouldn’t get fmv. Who knows what the market will be like when your parents die? The house may not be worth as much as it is now. Don’t interfere in how your parents have divided property bc you don’t want a hassle later. [/quote]
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