What to do about a dispute over property and monetary items between 2 siblings who must equally split the value of the estate?
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What to do about a dispute over property and monetary items between 2 siblings who must equally split the value of the estate?
My sister and I had a verbal agreement to allow her to receive the truck into her name before the estate was completely closed. She agreed to use the value of the truck and subtract that from whatever her share would be when our father’s trailer is sold. The truck was not maintained by her and she continued to drive it. The truck now has $3000 worth of damage and she advised that she will say it was a gift from me to her and that she owes me nothing. What are my rights? She also used his credit card without my knowledge after our father passed. What are my rights there?
Asked on May 8, 2012 under Estate Planning, Minnesota
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
The best way to resolve the dispute that you have written about with your sister on paper is to have an accounting as to what the net split would be between you and her. Once accomplished, her share would be reduced by the amount of the credit card bill where the cash amount from her share would pay off the bill and the credit card account closed.
As to the truck, you need to get the fair market value of it at the passing of your father. Once that is ascertained, then you would receive a one half credit from your sister's share of your father's estate to equalize matters.
If you have a probate attorney handling this estate, I suggest that you bring the above to his or her attention. If not, I suggest that you consult with one before matters between you and your sister get worse.
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