Can I use a summary administration procedure and avoid probate if I want to live in my deceased mother’s home?

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Can I use a summary administration procedure and avoid probate if I want to live in my deceased mother’s home?

My mother passed and left a modest home to my 2 sisters and I. The home is appraised at $34,000 for tax purposes but in today’s market would only fetch around $12,000, as it is in disrepair. My sisters are in agreement with me living in the home indefinitely as long as I pay the taxes. I am the executor of the estate. There were no cash or valuable personal effects left behind.

Asked on February 29, 2012 under Estate Planning, Iowa

Answers:


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