You have to ask the question for

May 6, 2024
11:30:53pm

Archaea Intervention Needed

Probate and basis reasons but it depends if you intend to distribute in kind or if you wish to sell and then distribute but are going in the right direction.

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Archaea

Bio page: Archaea
Joined: Mar 28, 2001
Last login: May 18, 2024
Total posts: 94,580 (3,126 FO)

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Messages

Author

Time

Estate planning question. I am a co executor of my in laws estate. They made

Ycrazy

May 6, 11:10pm

Why don't you just sell the properties and then you will know exactly what they

vegasnative

May 6, 11:20pm

You want problems in the family, hold on to the real estate. Nothing

toadie

May 6, 11:30pm

We are not working together each sibling will be sole owner of any property

Ycrazy

May 6, 11:32pm

Then it doesn’t matter How do you value it as long as it’s consistent? For example

Blue2thebone

May 6, 11:42pm

Half want to keep property other half want cash out. So it seems wasteful to

Ycrazy

May 6, 11:31pm

It may seem wasteful, but in reality it’s just the ‘fair’ action to take….

Crowd Factor

May 6, 11:50pm

Well… if you’re looking to find true market value, put it up for sale and right

Powerbait DPM

May 7, 6:52am

You have to ask the question for

Archaea

May 6, 11:30pm

Isn't the answer a moot point? If you go with appraised value and the sale is said property runs close, doesn't that

DJROSS

May 6, 11:59pm

You need to marshall the assets

CocaColaRecovery

May 7, 12:04am

This is what I was trying to say

Blue2thebone

May 7, 12:28am

A tax attorney may be better

bigjohn

May 7, 6:37am

We have done all these steps. The trust attorney told us that we had to decide

Ycrazy

May 7, 9:41am

Been executor 3 times - get things to cash before you start talking about splits

Jersey hunter

May 7, 1:11am

Assume liquidation of all assets for splits, individuals can then opt to hold specific assets

Bobber

May 7, 5:52am

I don't think you have a choice.

WVU_Prof

May 7, 3:53am

Not helpful to you, but to anyone reading: Do not have family as executor!

legiaourbana

May 7, 5:07am

My trusts and estates professor in law school said that he is never an executor

Pied Piper

May 7, 5:38am

You may need to use multiple real estate agents or a large agency. You want

NYC and Japan

May 7, 7:28am

Use NET value for all of them. That makes it fair for all, regardless of whether

byuinva

May 7, 7:34am

Good advice I heard: gather family and go through estate plan w/parents.

refunder

May 7, 7:45am

I think you need to use full value. The sellers can choose to FSBO or use

Spine

May 7, 8:30am

You need the property appraisals regardless to determine stepped up basis.

roseyscenario

May 7, 9:34am

<< Deleted >>

Tuss

May 7, 12:33pm

You could split the difference and go halfway between the two methods,

Christopsomo

May 7, 5:37pm

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