Estate Sale - Your Sister Hates you

Estate sale. House left to 3 middle aged siblings. Two are well educated, one has a trade. The two were happy, want to sign and with a two week closing. The other one, has it in his head that they are getting cheated. Would not come to the negotiations, had to deal on telephone. Offer good until tonight, this one guy refuses to take phone calls or answer email and is hiding to let this great deal die. We have two offers, with the other being much lower. So, last night, spoke to lawyer friend and my reasonable clients will probably take their sibling to court to have them removed as a co-Executor and to sue for damages.What they can do is simple. I eventually sell the house in the fall, for a lot less money. Take off the loss, the legal costs, etc. They still get their money, as per the first deal but the errant sibling will be solely responsible for the losses and will get their inheritance cut by at least one-third. I have given up trying to talk logic into a non logical mind.
So, is this story about me, a real estate woe? No, it is about the greed and old wounds that come about when their is an inheritance. I told the parties, "this has zero to do with real estate, it has all to do about the family dynamic." Two siblings went off to university and higher academic achievements so now he can get even.

Barry Lebow shared this tale.   I have seen it many times and appreciate being an Accredited Senior Agent, that I have been exposed to these scenarios and how they play out.

They are never about the money or estate but about some forgotten red wagon or Birthday party surprise that caused a LIFE LONG RIFT between siblings.

If you are selling in Toronto, Lets talk.

David Pylyp

647 218 2414  

Dad remarried; who shares your inheritance

Dad has been living on his own for a while and getting on in years.   He has met someone new. Whether he is divorced or a widower is academic. All the kids now have a new step Mother. [sharing their inheritance]

Claims of being a Gold Digger aside, your step Mom has spent lets say a decade looking after your Dad.  

The WILL that was drawn prior to the (RE) Marriage is rendered ineffective and must be redrafted. Your Step Mom has an interest in the Matrimonial Home.  [SHE] is entitled to an equalization of the equity in the home prior to the distribution of assets 

We know you would like to sell the Family Home as soon as practical; but there are some logistical issues that are immediately at hand.  Where will the NEW widow live?   What provisions has been made for her in the will.   While the New Step Mom, now widow, may no longer be asked for a Spousal Consent to the Sale she will however continue to have some possessory  rights.  Will there be a Dependence Relief Claim?

These are tough decisions for any Executor to make on the spur of the moment and in reality, it may be a minimum of 6 months or more before any decisions are made at all.  During this entire time, the estate is still making heat, hydro, water and insurance payments [ and possibly mortgage payments ]. 

With more than one Executor in the will have you made provision for dispute resolution between the executors?

All the more reason to call a Family Law Specialist who is wise with experience and an ASA REALTOR who is mindful of the resources that need to be introduced.

What legal minefields are you leaving behind with a home will kit? The argument will be what did [he] Dad mean by not addressing these issues.