Deceased parents home
| # | Post |
|---|---|
| 1 | If there are 4 siblings, one being the Executer of the parents estate, how much say do the other three have in regard to the sale of the property? swcomputers - 2021-09-10 16:10:00 |
| 2 | Have you read the will? zak21 - 2021-09-10 17:15:00 |
| 3 | We have a similar situation and you don't have any say, only the executor. However, the executor can be held personably liable if financially they don't do their best. eg get a valuation and then sell it at 20% discount for a quick sale. They could be held liable for the difference between valuation and sale price. hers.nz - 2021-09-10 17:16:00 |
| 4 | Well the executor must offer up the will for probate, wait to see if there are any claims over the estate, they should have conversations with the beneficiaries to smooth the waters and resolve things as best they can in regards to the assets, So talking through the issue is always best, as for selling property then there are lots of variables and the agents probably have the best advise on that for the area.But yes talk to your sibling, greedy or not you will only get your share as stated in the will. msigg - 2021-09-10 17:47:00 |
| 5 | It's not about getting our share. We know we get 25% from the sale proceeds, its just some discussion around the decisions that need to be made. swcomputers - 2021-09-10 18:00:00 |
| 6 | The executor has been appointed by the deceased to make the decisions and execute the estate. How much input you get will depend on your relationship with them (not to them with them) beansie3 - 2021-09-10 18:21:00 |
| 7 | beansie3 wrote:
This. We were in exactly the same position. There were three of us. The older brother was the executor. Because he is more on to it than the other brother and I lived miles away. There was full consultation on every aspect of the sale, and what would happen with the proceeds. Long story short we have been paid out, but there is still a small amount left for two of us. Which came as a pleasant surprise. I don't need it at the moment, but it is there if I do. joanie04 - 2021-09-10 20:43:00 |
| 8 | beansie3 wrote:
Agree. O/P should try two-ways communication but the executor doesn't have to listen. amasser - 2021-09-11 10:15:00 |
| 9 | amasser wrote:
Dad never said why he chose my brother other than my uncle was probably too old. And I can just imagine the mess we would have had otherwize. On his death bed dad said you are to do what ***** says and there will be no arguing. I looked at by nephew and said, your dad is firm but fair, it is his way or the highway, unless of course you are a ginger cat. Even though the three of us are completely different we have never really argued and get on reasonably well. Edited by joanie04 at 1:46 pm, Sat 11 Sep joanie04 - 2021-09-11 13:45:00 |
| 10 | you also need to consider future family relationships. Most inexperienced people take the advise of the real estate agent, so the outcome may be perfectly fine. Just call your brother and offer help if he needs/asks for it. kittylittle - 2021-09-11 14:32:00 |
| 11 | My brother actually took legal advise and once probate was granted they advised him to just go ahead with the terms of the will (was reasonably straight forward) otherwise if you keep using us, it will cost you money you don't need to spend. joanie04 - 2021-09-12 17:49:00 |
| 12 | Well you have got me thinking about this now. I know who is EPOA for our mother but not who is executer of the will. bryalea - 2021-09-12 18:59:00 |
| 13 | Be wary of using an agent your lawyer refers you. Make sure you chose your own. superdave0_13 - 2021-09-12 19:26:00 |
| 14 | superdave0_13 wrote: Why? What are the pitfalls? zak21 - 2021-09-12 20:24:00 |
| 15 | Happened with friend a while ago. 3 sisters, one did nothing except change her mind constantly. lythande1 - 2021-09-14 08:37:00 |
| 16 | zak21 wrote:
Superdave is being a super conspiracist. johnston - 2021-09-14 09:05:00 |
| 17 | swcomputers wrote: I've just gone through such a process myself in the last year, my advice is to remain calm, give advice without seeming to be patronising or judgemental, state perhaps how you would have done it, but be humble about it. Let them know that you understand the process which is time consuming and stressful at times, offer to help if need be. If there is little or no response, then let it be and get on with your life, there is no sense in worrying over it. Time will bring the results to you, you need do nothing. If you need the money, you can apply to the estate for an advance. jhan - 2021-09-14 10:12:00 |
| 18 | There is plenty of online advice for executors to read to understand their role. I suggest beneficiaries read the same stuff so they don't get impatient with progress. So things like, even if the house is sold early in the process the funds may not be distributed for 6 months or so. zak21 - 2021-09-14 11:17:00 |
| 19 | We just went with the flow and followed the processes. The biggest issue was all the little stuff they had accumulated after 56years. I know three skips of junk went. My brother had stuff stored everywhere and was giving it away left right and centre. I am now in the process of decluttering as I don't want the family to go through that again. joanie04 - 2021-09-14 12:12:00 |
| 20 | zak21 wrote:
Lawyers love this type of stuff. Not only will will they charge you but they also get a nice little referral fee from their RE mate who they refer you to. superdave0_13 - 2021-09-16 14:25:00 |
| 21 | superdave0_13 wrote:
BS. johnston - 2021-09-16 14:26:00 |
| 22 | You don't take referral fees Johnston? superdave0_13 - 2021-09-16 14:47:00 |
| 23 | I am executor but in consultation with my siblings as per the will. That should have been the condition in your parents.... but not necessarily. spead - 2021-09-16 15:58:00 |
| 24 | superdave0_13 wrote:
Never. johnston - 2021-09-16 17:41:00 |
| 25 | Rubbish! superdave0_13 wrote: corogirl - 2021-09-17 20:24:00 |
| 26 | Be mindful that the parent chose the Executor for a reason... it may not sit well with others but was their choice... I know I bent over backwards for my other siblings at the time and still some could not remember receiving items that were assigned to them by parent and I personally saw them take possession of... it seems memory loss is prevalent when family possessions are concerned. karlymouse - 2021-09-17 23:31:00 |
| 27 | karlymouse wrote:
This. We could take what we wanted in consultation with the executor. In the end he couldn't give a lot of stuff away as it had no sentimental value or use to any of us. The big items were the easiest. I think my younger brother got some, my step niece some, my daughter a fair bit. It went where it was needed first and foremost. joanie04 - 2021-09-18 15:37:00 |
| 28 | My parents died 5 months apart. My youngest brother was the executor. The house was sold when they both decided to go into care. My father died a week after they moved. My brother cleaned out the house and sorted out getting it sold. He also did an excellent job of managing mum’s finances for that last 5 months. I’ve told him more than once what a good job he did both as EPOA and executor It was slightly complicated because there are 4 of us. None of us have anything to do with the other brother. And, I’d been cut out of the will some time ago. Mum tried really hard to get me back in but her mental acuity had dropped significantly. In the end, my siblings all signed a letter saying I should receive an equal share. It can be a lot of work being the executor. I think if it were me, OP, I’d offer to help in any way they need and then let them get on with it. princess52 - 2021-09-18 23:05:00 |
| 29 | Firstly the house can’t be sold until after probate has been granted. At that point the house ownership is changed by transmission into the executors name as they can’t sell a property they don’t own. The sale proceeds then fall into the estate for distribution. It is always best to keep these things open and friendly so if you can talk to the executor then that’s the best way to have some input into the how, where and when. The car and contents are chattels and their disposal will usually be covered in the Will. Holiday points, depending on how they’re “owned”, can be transferred or sold. Edited by sarahb5 at 7:29 am, Fri 24 Sep sarahb5 - 2021-09-24 07:27:00 |
| 30 | princess52 wrote:
A refreshing attitude from all involved Princess. The outcome reflects well on you and your siblings. Edited by johnston at 12:18 pm, Fri 24 Sep johnston - 2021-09-24 12:18:00 |
| 31 | johnston wrote:
Yes johnston, i couldn't agree more. Sounds like a nice family with good siblings. yapper - 2021-10-10 12:38:00 |
