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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Team OP. This happened to my husband - the parents decided that one sister "needed" the family home more because the other siblings seemed to be squared away. Well, after the parents died, DH got a divorce and basically had to start over and his other sister had a kid born with serious disabilities, and there was the other sister happily living mortgage free in their childhood home. It hasn't destroyed the family, but it definitely has colored the family dynamics for over 2 decades now. It wasn't even THAT much money, certainly not $1 million, but it created an unnecessary wedge between siblings.

Parents, don't do this![/quote]

But there is only one house...what should the parents have done? Ordered it be sold and split three ways evenly?[/quote]

Put in a trust, split trust 50/50 upon death. One side can always buyout the other side. Expenses and taxes split 50/50 each year. If unsustainable to gold, sell it and split proceeds after debt payoff 50/50z.

Happens all the time. Usually 50/50.[/quote]

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