My question involves estate proceedings in the state of: New York
My mother passed 1 year ago from injuries sustained from being struck by a car. My sister has always lived there, followed by her husband and then 2 children (that's another story). 6 years ago after my dad passed, my brother moved back in after he and his wife split up. I live halfway across the country.
Her will states the assets are to be divided equally among the 3 siblings. She owned her house and had a home equity loan on it with about 50k left. She had an annuity which was distributed quickly after her death, and a small life insurance plan which was also distributed quickly.
My concern is the house. Brother and sister have been paying the loan and the taxes. When this horrible tragedy happened last year, my brother said he didn't want to sell the house - he wants to keep it in the family. I mentioned to him mom said he was not doing well financially, but he debunked that so I said fine buy me out. Easier said then done! My sister cries about money, but I hear from a cousin, my brother in law boasts about how much he has in the bank - I do find that hard to believe but you never know.
About 6 weeks ago I asked brother (executor of the estate), if the house had been transferred to our names, he said not yet. I was there about 2 weeks ago and inquired again, he decided to have an attorney do it.
I would like this to come to a conclusion soon. I went there for Christmas, and also about 2 weeks ago - of course neither of them brought the issue up and to me it is the elephant in the room. Of course they don't want to bring it up since they are paying very little to live there - I estimate about $800 each per month, and buying me out will of course raise that substantially.
How long should this take, aside from the time for them to get a loan? There is also a wrongful death suit against the driver, would that have anything to do with this?
Thank you
My mother passed 1 year ago from injuries sustained from being struck by a car. My sister has always lived there, followed by her husband and then 2 children (that's another story). 6 years ago after my dad passed, my brother moved back in after he and his wife split up. I live halfway across the country.
Her will states the assets are to be divided equally among the 3 siblings. She owned her house and had a home equity loan on it with about 50k left. She had an annuity which was distributed quickly after her death, and a small life insurance plan which was also distributed quickly.
My concern is the house. Brother and sister have been paying the loan and the taxes. When this horrible tragedy happened last year, my brother said he didn't want to sell the house - he wants to keep it in the family. I mentioned to him mom said he was not doing well financially, but he debunked that so I said fine buy me out. Easier said then done! My sister cries about money, but I hear from a cousin, my brother in law boasts about how much he has in the bank - I do find that hard to believe but you never know.
About 6 weeks ago I asked brother (executor of the estate), if the house had been transferred to our names, he said not yet. I was there about 2 weeks ago and inquired again, he decided to have an attorney do it.
I would like this to come to a conclusion soon. I went there for Christmas, and also about 2 weeks ago - of course neither of them brought the issue up and to me it is the elephant in the room. Of course they don't want to bring it up since they are paying very little to live there - I estimate about $800 each per month, and buying me out will of course raise that substantially.
How long should this take, aside from the time for them to get a loan? There is also a wrongful death suit against the driver, would that have anything to do with this?
Thank you
Heirs and Beneficiaries: Time to Distribute Inheritance
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