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May 7, 2024
12:33:01pm

Tuss Starter

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This message has been modified

Originally posted on May 7, 2024 at 12:33:01pm

Message modified by Tuss on May 7, 2024 at 1:02:40pm

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Tuss

Previous username: (Private)
Bio page: Tuss
Joined: Oct 21, 2006
Last login: Jun 2, 2024
Total posts: 934 (141 FO)

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Messages

Author

Time

Estate planning question. I am a co executor of my in laws estate. They made

Ycrazy

May 6, 11:10pm

Why don't you just sell the properties and then you will know exactly what they

vegasnative

May 6, 11:20pm

You want problems in the family, hold on to the real estate. Nothing

toadie

May 6, 11:30pm

We are not working together each sibling will be sole owner of any property

Ycrazy

May 6, 11:32pm

Then it doesn’t matter How do you value it as long as it’s consistent? For example

Blue2thebone

May 6, 11:42pm

Half want to keep property other half want cash out. So it seems wasteful to

Ycrazy

May 6, 11:31pm

It may seem wasteful, but in reality it’s just the ‘fair’ action to take….

May 6, 11:50pm

Well… if you’re looking to find true market value, put it up for sale and right

Powerbait DPM

May 7, 6:52am

You have to ask the question for

Archaea

May 6, 11:30pm

Isn't the answer a moot point? If you go with appraised value and the sale is said property runs close, doesn't that

DJROSS

May 6, 11:59pm

You need to marshall the assets

CocaColaRecovery

May 7, 12:04am

This is what I was trying to say

Blue2thebone

May 7, 12:28am

A tax attorney may be better

bigjohn

May 7, 6:37am

We have done all these steps. The trust attorney told us that we had to decide

Ycrazy

May 7, 9:41am

Been executor 3 times - get things to cash before you start talking about splits

Jersey hunter

May 7, 1:11am

Assume liquidation of all assets for splits, individuals can then opt to hold specific assets

Bobber

May 7, 5:52am

I don't think you have a choice.

WVU_Prof

May 7, 3:53am

Not helpful to you, but to anyone reading: Do not have family as executor!

May 7, 5:07am

My trusts and estates professor in law school said that he is never an executor

Pied Piper

May 7, 5:38am

You may need to use multiple real estate agents or a large agency. You want

NYC and Japan

May 7, 7:28am

Use NET value for all of them. That makes it fair for all, regardless of whether

byuinva

May 7, 7:34am

Good advice I heard: gather family and go through estate plan w/parents.

refunder

May 7, 7:45am

I think you need to use full value. The sellers can choose to FSBO or use

Spine

May 7, 8:30am

You need the property appraisals regardless to determine stepped up basis.

roseyscenario

May 7, 9:34am

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Tuss

May 7, 12:33pm

You could split the difference and go halfway between the two methods,

Christopsomo

May 7, 5:37pm

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