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May 6, 2024
11:32
:21
pm
Ycrazy
All-American
We are not working together each sibling will be sole owner of any property
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Ycrazy
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Ycrazy
Joined
Apr 14, 2011
Last login
May 18, 2024
Total posts
8,630 (6 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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