Legal Question in Wills and Trusts in California
property vs money
My mother passed away and I am her executor. She left all the money in my name but the house in my brothers. The money is worth more than the house and I was told to do a fair market value on the house and take my money from that and give him his share above the house. He is underselling her house because he wants money now and we are not getting along. What is the legal way to do this?
1 Answer from Attorneys
Re: property vs money
if all of your mother's assets were held in joint tenancy (the real property with your brother and the bank account(s) with you) then each of you is legally entitled to the property without any adjustment. if there is other property with a value of more than $100,000, or if the bank account(s) and real property were not held in joint tenancy, probate may be required.
you should consult an attorney to review the facts and provide advice. if you decide to act on your mother's wishes (which are likely not binding based on the information you provided), you will need an attorney to prepare an agreement between you and your brother.
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