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

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[quote=Anonymous]OP here. Thanks for the comments, good & bad. Just to clarify, typical working class family. Mother stayed home, father worked in an office. A family member sold the home to my mother for a fraction of what it's worth. It's an old home. Parents retired a few years ago. Sold their home and moved into this. It was a very old home and parents renovated it with money from the sale of their home. This home is 10 minutes drive to the beach in Florida. The value of it now is approximately $1M. They don't have a large amount of money in savings and this is by far their biggest asset.

I know it is their decision, but I want them to make it with some facts. I think it would make a nice rental or vacation rental. Profits could be placed in a fund for taxes, insurances, maintenance and repairs. After that, we could use the profits for our kid's college, etc. But hearing some of the stories of problems generations later, I think maybe selling it and splitting the profits would be the best way to keep the peace. I hope my parents would agree too.
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