What to do if beneficiaries of a Will can’t agree on the disposition of assets?
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What to do if beneficiaries of a Will can’t agree on the disposition of assets?
My mother passed away leaving all of her possessions to all 5 of us siblings in her Will. However, 1 of the siblings has filed a suit against the other 4 for her share of the house of which we all agreed on an amount. Also, 1 of the 4, who has been living with our mother in order to take care of her, has been trying to get a mortgage to buy the house and pay the suit for 3 months. Now the banker has told her that it has to go through probate. Does it really have to go through probate? Is there any recourse we could take to turn it around so that the 1 black sheep has to buy the other 4 out?
Asked on May 14, 2015 under Estate Planning, Alabama
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
I am so sorry for your loss and for the isues that have arisen. If the house was left to you all in a Will - and not transferred prior to her death - then is has to go through probate. So the named executor has to submit a probate petition to the court to be appointed to deal with it. The scenario that you list is quite possible: one buying the others out. Understand that the suit will drain estate funds so it is best to try and mediate the matter between you all. The value of the house could be adjusted to what you agreed so that one may buy the others out but the value for estate purposes will be the date of death value. Good luck.
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