Legal Question in Wills and Trusts in Illinois
fathers home to be split three ways ?
My father named me as the executor to his will. He left his home to myself, my sister and brother. I want to know how this works if one of us does not want to sell the home when the others do ? None of us speak to each other, so Im very sure this will create some sort of dispute. Can one of them force me to sell it immediately so they get their share of the profits ? Or can I hold on to it until its ready to be sold ? the home is very, very old and needs major repairs. It is completly paid for. My father is still alive, Im just trying to find out what my rights are as executor, I have no experience with dealing with wills and how binding they are.
2 Answers from Attorneys
Re: fathers home to be split three ways ?
As executor, it will be your responsibility, with court supervision or ultimate authority, to determine what repairs to make and when to sell, after your father dies. The will, of course, controlls whether you as executor will pass the house to your siblings, or sell it first and pass out the proceeds. If the will does not specify, and your siblings do not agree, then you must sell, in my opinion. The bottom line is that if you and your siblings do not talk, or there is any animosity, you should hire an attorney to represent you in your capacity as executor.
Re: fathers home to be split three ways ?
Remember this first... the house is not yours. You are the executor and as such you are required to carry out the dictates of the will. You must pay all the debts and expenses of the estate. If there is sufficient assets to do this without selling the house fine if not the house must be sold. As executor you probably not authorized to remodel the house with estate assets without a court order and a court probably would not allow extensive expenditures for this purpose. If you want to keep the house then you must pay off your siblings.
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