Legal Question in Wills and Trusts in Louisiana
estate administrator
My mom passed in 2004 and my dad passed in late 2008. they left no will and there are 12 siblings. The main assets are a house and 2 pieces of property valued at less than $200,000.
One of the siblings is now living in the house; the majority are not in agreement with this decision. He had originally agreed to pay a small monthly sum, but is not making payments. Many think he is working on a backdoor approach to get the home free of charge since he would not qualify for a loan to purchase.
We are at the point where the homeowner's insurance has to be in someone's name but are concerned that if it is in his name, he can establish himself as owner.
Although the estate is small, there is a lot of arguing over little and someone needs to be put in charge to manage the affairs and pay off the remaining bills left by our father. I had POA when he was alive (which created some jealousy within the family) and would like to become administrator because I know what he would want done andI have the thick skin to stand up to the arguing. How do I go about doing this and, is it very expensive to do. I'm afraid this could become a long drawn out process and very messy if there is no one who can legallly take control.
1 Answer from Attorneys
Re: estate administrator
It is in everyone's interest to do a succession. Eventually the property will need to be dealt with and 12 owners is a pain.
If the property is sold everyone gets 1/12th of the money. I suggest you file & do the succession (everybody gets 1/12) Afterward have all of the land, including the home, appraised by a licensed appraiser. This should end arguments about the value. To the extent possible, buy each other out. You can even swap interests (in exchange for Sibling 1's interest in the house he gets sibling 2's interest in the 2 lots plus enough cash being exchanged to balance the math).
Good luck!.