Inherited Buyout

[teetsdownlow]

Oh boy..this is more so a vent as well as general knowledge for anyone else that happens to be in my shoes. For some reason I feel as if this may be a bad move but you'll never know unless you try

After doing some late night searching I have found some information but theres not much in terms of information regarding the subject. Partially because I believe this is for an attorney but this could also be used to bounce ideas and get more of a well rounded discussion..as well as being less expensive

A little bit of information. I decided to move out to the west coast with my girlfriend a couple years ago from the midwest. She needed to finish up her masters degree and I was interested in trying out a new area. Fast forward a year and my mother passes. Having to work with another family member in order to take care of everything became horrendous. After having to deal with the emotional sorrow, work, problems relating to my girlfriend, and my sibling becoming unresponsive my patience ran short.

After pushing to hire someone to help move this along she cooperated after 2 years of this. At this point it's hard for me to do daily tasks because of all turmoil that has happened within the last 2 years. The house that I wanted more than anything and promised my mom I would take care of seems to be dwindling away.

My sibling being the trustee of the trust agreement has sold items inside the estate. She has been living in the estate rent free, items have became "missing", etc. I have requested a copy of the keys so I can remove a few personal property items from the estate with no response. Anything in regards to the estate must be done in accordance to her schedule and not mine. At this point I'm not sure what to do so I've come here hoping to start some discussions. I'm so overwhelmed with his hanging over my head the past 2 years I'm afraid I will make an emotional decision and not a logical one.

My sibling has sent me a letter, one that I have talked to a few people on and am still undecided. Keep in mind I have sent requests for exact figures but has not been responded to.

After responding to the letter stating I would fly out to get my property as well as collecting half of our mothers property during a 1 week span we'll see what they say to that. What I have the problem with is my sibling offered me a buyout. While I have consulted people I'm wondering if this post can help spark up anything we haven't talked about. What they proposed is half of the ESTIMATED price of the estate minus all closing costs associated with the estate, previously paid real estate taxes, previously paid homeowners insurance, as well as half of the costs with the lawyer my mother hired before she passed.

While I understand what these all are. As a person in my position should I be pressured into paying for closing costs in a home I am not purchasing? It seems logical that I would assist in real estate tax, my mothers lawyer, as well as homeowners insurance since it's correlated with us equally. I'm just not 100% sure.

Thanks in advance

[Tcoat]

What does your mothers will say about distribution of the estate?
Lawyer up and be ready for a fight.

[teetsdownlow]

We had 120 days to come up with a game plan on what would happen in regards to the estate and assets. We were not able to come to terms on a date, time frame, as well as holding everything hostage/in limbo (she wouldn't allow talks of anything until I signed over the account) until my sibling cashed out my mothers bank account. After 120 days if I remember correctly, everything would be sold for fair market, if we could not come to agreement.

I believe our lawyers are trying to not go that route and settle this more peacefully regardless of the post 120 days time frame. I believe everyone understands if this has to go through court we would both be in debt as well as lose all items that have emotional value

[humfrz]

I suggest you allow the trustee of the trust to liquidate the estate and you ask for your share of the proceeds.

Then, move on with your life.

Crap like this can mess up a person's life.


humfrz

[Swift]

This isnt that uncommon. I have seen a son or daughter come back after not really talking with father or mother while they were alive and throw a wrench in everything. These are the people that are going straight to hell. You left your family behind and then all of a sudden come back out of greed and hate.



Personally I would move on and never talk to my sibling again. Ever.