Legal Question in Wills and Trusts in Maine
no will property left six children
ok no will when my mom died there are six girls all agree to sell property we have a buyer for property how long do we have to wait to sell this property,buyer said no waiting time he will put contract in probate,and he said we won't need to pay inhertance tax because its not that much money for property 75,000 split six ways is this true ?
1 Answer from Attorneys
Re: no will property left six children
When a person passes away without a Will, the legal term is "intestacy". The matter must still be brought to the Probate Court for a formal recognition of the estate's administration, and the Court needs to appoint someone to be the official administrator of the estate, so that person can act with authority on the estate's behalf. Maine Statute sets forth the rights of the heirs in intestacy. If your mother passed away and her husband predeceased, then the property would be distributed to the remaining children equally.
In theory there should not be a problem with selling the property, especially if all of the heirs agree on the price and timing of the sale. If the estate is valued less than $700,000 or so, then there will not be any Federal or State Inheritance tax due.
My office provides probate administration services to those in the South Portland area and I would be happy to speak with you further if you determine to proceed and need additional assistance the the sale and/or probate. My telephone number is 767-4824.
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