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Reply to "When the estate breaks the family"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sorry OP back here. We have plenty of lawyers now and in creating this mess including one parent (set up will and trust), siblings and spouses of siblings. Other real estate was part of will which was either directly addressed in will or has been sold. The entire estate can't be closed out until agreement is reached on what to do with the home. The sibling residing in the home has rejected all offers to settle including owning the house outright but not getting share of the cash (equity in home is 5x what split cash would be). They are demanding home outright and equal split of cash. This has infuriated some of the siblings so to partition we go. We actually used to all be very close. Hot mess. It is a good reminder to all that making one of your kids your executor could be a terrible move. [/quote] Oof. What is House Sibling’s possible rationale for getting a bigger share? Are they arguing that they put money into the house and deserve more than 50% of it on an equitable basis? But at the end of the day, zero sympathy for House Sibling. I live in a house effectively controlled by my MIL’s future estate - about 1/3 of the current value was contributed by her as a loan when we bought it. I have always known & accepted that we may have to sell depending on MIL’s preferences or however the estate shakes out. I’m grateful that through her providing me leverage I got to live in a house I never could have afforded otherwise and will eventually get a nice chunk of money for the appreciation! It would seem unfair if the executors forced us to move on very short notice, but otherwise, I’m a grown-up and went into this with my eyes open. [/quote] Can’t you just pay back the loan while your MIL is still alive? Then she would have no claim to your house, nor would her estate. [/quote] Yes of course but do not have the money for that unless we sell the house or take out a big new mortgage. [/quote]
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