Can a beneficiary receive monetary compensation for improvements done to an inherited residence while readying it for sale?
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Can a beneficiary receive monetary compensation for improvements done to an inherited residence while readying it for sale?
The house that was inherited is to be sold and split among 4 siblings; 2 of whom have done extensive work to it before trying to sell. Are they entitled to compensation from the estate?
Asked on June 8, 2017 under Estate Planning, Connecticut
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
They are only entitled to compensation if there was an agreement beween them and the estate (e.g. between them and the executor, administrator, or personal representative of the estate) giving them payment or a larger share of the proceeds in exchange for the work. Otherwise, they gave their work to the estate for free, and the other siblings will share in the benefits thereof (e.g. quicker sale and/or higher sale price). You cannot demand payment after the fact; there must have been an agreement in place up front giving you a right to it.
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