Estate Question

[grunthy]

Let us know when your BIL soaks you for a lot of money.

[meow]

Poor financial decisions are often made out of nostalgia. Be careful

[dodint]

I thought you foed me? Why am I a moron? I’m not the one that called the parents an idiot for leaving something to their kids.

You're foe'd, but I'll read some posts not in the PDT. You've demonstrated a complete lack of value though so that's done.

The parent took the lazy way out knowing that it's going to create a problem. Leaving my wife the house and the brother the bank accounts, cars, etc would've been an equitable division of assets and a clean estate to easily probate. Your stupid comment and weak follow-up failed to account for other available assets for division; because you're a simple minded rube incapable of analyzing complex situations who also thinks he's clever with 'gotcha!' one liners that absolutely nobody thinks are smart or funny. You're literally the personification of a Youtube comment come to life, NEXT!

I'm hoping my wife just lets it go and they split everything down the middle. If my MIL really wanted the house to stay in the family she should've taken a course of action to ensure that instead of taking the only course of action with a likely outcome that it won't. This will cause my wife a lot of pain and I'm preparing myself to help her deal with it. The house and land are only worth about $85k, it's possible the executor can draw up a settlement that pleases everyone. I don't know who the executor is; if it's one of her family members this is going to be a **** show. They are all insane people.

[dodint]

Poor financial decisions are often made out of nostalgia. Be careful

Yes.

I'm not sure, given the low value of the property, that she can really misstep too much here.

And, hey, new information. I texted my wife to ask if she knew who the executor is. Turns out she never actually wrote up the will, she's going to die intestate.

*washes hands motion*

I'm out.

[robbiestoupe]

I'll play devil's advocate. My FIL's parents left him their house. His sisters and their family were not too happy with that decision, but they received other assets. He didn't just sell the thing off, he's kept it up over the years and rented it out to grad students and respectable adults. Probably a bad financial decision, but it has meaning to him and gives him a chance to revisit his childhood home at his whim.

His ignorance is that he's 75 and he hasn't written a will. He has 3 daughters, one married, one single, and one mentally challenged. Should be fun times figuring that out when the time comes.

My wife and I just started the process of writing our will. If we die, the kids split the house. There is no way to know what the future value of the house or our assets will be when we die, so they split everything. Perhaps your in-laws did the same. Maybe they are lazy, sure, but I wouldn't call their intent bad.

[grunthy]

I thought you foed me? Why am I a moron? I’m not the one that called the parents an idiot for leaving something to their kids.

You're foe'd, but I'll read some posts not in the PDT. You've demonstrated a complete lack of value though so that's done.

The parent took the lazy way out knowing that it's going to create a problem. Leaving my wife the house and the brother the bank accounts, cars, etc would've been an equitable division of assets and a clean estate to easily probate. Your stupid comment and weak follow-up failed to account for other available assets for division; because you're a simple minded rube incapable of analyzing complex situations who also thinks he's clever with 'gotcha!' one liners that absolutely nobody thinks are smart or funny. You're literally the personification of a Youtube comment come to life, NEXT!

I'm hoping my wife just lets it go and they split everything down the middle. If my MIL really wanted the house to stay in the family she should've taken a course of action to ensure that instead of taking the only course of action with a likely outcome that it won't. This will cause my wife a lot of pain and I'm preparing myself to help her deal with it. The house and land are only worth about $85k, it's possible the executor can draw up a settlement that pleases everyone. I don't know who the executor is; if it's one of her family members this is going to be a **** show. They are all insane people.

Seems you want to make this personal. Rich coming from the guy that was a known piece of **** and moron at GLHS.

[dodint]

My FIL died in July. My MIL has been cleaning the house out 'so when she dies' we don't have to. She also had me research the impact of the estate tax, which she worries so much about despite having low six figure assets in total. Then she got sick in November with an undiagnosable cancer and a bad prognosis. Her daughter is an experienced paralegal, and I'm a law student. She has talked with my wife at great length about a will, but she doesn't want one. She thinks her saying out loud what she wants is good enough. She's going to let those two fight so she doesn't have to feel like she might have slighted one or the other. It's lazy, selfish.

My parents have the same arrangement, though it's codified in a will. But my siblings and I are not contentious like my wife and BIL.

If my BIL wasn't an opportunistic piece of **** this wouldn't be a huge problem. But my MIL knows he is, has said so to his face, and she's leaving my wife to deal with it.

[tifosi77]

That's a highly turdsome situation, dodint. I'm sorry you have to deal with the flak.

[dodint]

I thought you foed me? Why am I a moron? I’m not the one that called the parents an idiot for leaving something to their kids.

You're foe'd, but I'll read some posts not in the PDT. You've demonstrated a complete lack of value though so that's done.

The parent took the lazy way out knowing that it's going to create a problem. Leaving my wife the house and the brother the bank accounts, cars, etc would've been an equitable division of assets and a clean estate to easily probate. Your stupid comment and weak follow-up failed to account for other available assets for division; because you're a simple minded rube incapable of analyzing complex situations who also thinks he's clever with 'gotcha!' one liners that absolutely nobody thinks are smart or funny. You're literally the personification of a Youtube comment come to life, NEXT!

I'm hoping my wife just lets it go and they split everything down the middle. If my MIL really wanted the house to stay in the family she should've taken a course of action to ensure that instead of taking the only course of action with a likely outcome that it won't. This will cause my wife a lot of pain and I'm preparing myself to help her deal with it. The house and land are only worth about $85k, it's possible the executor can draw up a settlement that pleases everyone. I don't know who the executor is; if it's one of her family members this is going to be a **** show. They are all insane people.

Seems you want to make this personal. Rich coming from the guy that was a known piece of **** and moron at GLHS.

High school? You have issues man, get better.

[grunthy]

I thought you foed me? Why am I a moron? I’m not the one that called the parents an idiot for leaving something to their kids.

You're foe'd, but I'll read some posts not in the PDT. You've demonstrated a complete lack of value though so that's done.

The parent took the lazy way out knowing that it's going to create a problem. Leaving my wife the house and the brother the bank accounts, cars, etc would've been an equitable division of assets and a clean estate to easily probate. Your stupid comment and weak follow-up failed to account for other available assets for division; because you're a simple minded rube incapable of analyzing complex situations who also thinks he's clever with 'gotcha!' one liners that absolutely nobody thinks are smart or funny. You're literally the personification of a Youtube comment come to life, NEXT!

I'm hoping my wife just lets it go and they split everything down the middle. If my MIL really wanted the house to stay in the family she should've taken a course of action to ensure that instead of taking the only course of action with a likely outcome that it won't. This will cause my wife a lot of pain and I'm preparing myself to help her deal with it. The house and land are only worth about $85k, it's possible the executor can draw up a settlement that pleases everyone. I don't know who the executor is; if it's one of her family members this is going to be a **** show. They are all insane people.

Seems you want to make this personal. Rich coming from the guy that was a known piece of **** and moron at GLHS.

High school? You have issues man, get better.

The stories don’t stop at high school dipshit.

[Troy Loney]

The only reason to ask for current market value would be to drive the price up as high as possible. Forcing a sibling to buy a house at the peak of its value when the intent of the parent was for it to be a gift. In my opinion it should be settled on the value of the land plus replacement value of the structures.

The parent is an idiot and has created this easily avoidable situation though.

I acknowledged the path of least resistance is market value. And I'm obviously letting my personal feelings bleed through here*. I don't think what I'm saying is wrong, though.

*My BIL has been avoiding my MIL/FIL almost the entire time I've known my wife but now that she's sick beyond hope he's shown up with his hand out. The fight is going to be ugly and I'm really, really dreading it.

So you want the estate to determine a value for the house? Seems like a given that the two parties would want to do different things with the property. I guess my question would be, if the ownership is split 50/50, can either party make a unilateral decision on the sale and sale price?

[tifosi77]

Grunts, as a dispassionate observer, you're crossing a line here.

[dodint]

That would make sense if I stuck around in the area, I've been gone for 12+ years, champ. And I've kept in touch with nobody from high school except my wife.

[grunthy]

Grunts, as a dispassionate observer, you're crossing a line here.

I’m not going to divulge the info. The guy literally insulted my intelligence and character for making a one liner. That was way crossing the line.

[tifosi77]

I guess my question would be, if the ownership is split 50/50, can either party make a unilateral decision on the sale and sale price?

If the MIL is going to die intestate, ownership split will be determined by PA law. I don't know if that defaults to an equitable split situation, or if there's a next-of-kin situation where the oldest inherits the estate.

[dodint]

Grunts, as a dispassionate observer, you're crossing a line here.

Nah, let him go. I was accomplished in High School and I'm accomplished now. He has nothing on me at all.

[MrKennethTKangaroo]

Appraisers probably wouldn't admit to it, but they damn well know what the sales price of a property is when they appraise it, and they try their damndest to match that price.

That being said, this is a different situation and honestly, I think an halfway decent appraiser would understand that the building itself is useless and that the property is probably worth more as vacant land.

[willeyeam]

Grunts, as a dispassionate observer, you're crossing a line here.

I’m not going to divulge the info. The guy literally insulted my intelligence and character for making a one liner. That was way crossing the line.

stop

[tifosi77]

Grunts, as a dispassionate observer, you're crossing a line here.

I’m not going to divulge the info. The guy literally insulted my intelligence and character for making a one liner. That was way crossing the line.

You're dragging stuff from well off-board into the discussion, and no one has any way of evaluating the claim. What goes on within the context of the daily back-and-forth here is open for everyone's interpretation and can be evaluated on its face. Making a claim about someone's high school reputation is low rent.

[Troy Loney]

Dodint is obviously asking advice on a sensitive situation, normal people would recognize that and not antagonize.

[count2infinity]

[MrKennethTKangaroo]

Grunts, as a dispassionate observer, you're crossing a line here.

agreed imo

it isn't like this is the first time someone insulted another posters intelligence.

[Viva la Ben]

This is uncomfortably weird and not in a good way.

[grunthy]

Dodint is obviously asking advice on a sensitive situation, normal people would recognize that and not antagonize.

Don’t care what dodint is going through after he said I was worse than Nazis. I messaged him saying I feel for his wife, but don’t give a **** about him.

[count2infinity]

Dude... just stop.