Legal Question in Wills and Trusts in Massachusetts

Re: property left in will

I am assuming you and one other sister own the 2 other units under the Will and your sister and her husband own the third unit. If not, and they get 50% and you and your sister each own 25%, then each occupant should be paying the reasonable market rent for the unit they occupy. You can reside in one unit and pay reasonable rent for the unit. The rent should be used to pay expenses including the Mortgage. Your sister has no right to stop you as Executrix from the renting the unit. However, if self-dealing is not premitted, then you will need the courts permission and you should indicate what the market rent is and what you will pay.

Is the 3 family a condominium? if not, it would seem you are going to be co-tenant owners and one or more of you may want to sell their interest in the property.

I assume the third unit is rented as well. Assuming title is in the name of the estate or a trust, until the property is deeded out, then the only one who can determine what is done with the property is the executor subject to the courts approval.

I would suggest you contact an attorney for assistance as soon as possible to review the title and the Will so you can act properly.

Please feel free to contact me if you have more questions without obligation.

Re: property left in will

Taking the second question first:

There is no hard-and-fast rule about what a family member-executor may be paid for their work, as long as amount reasonably reflects the skill needed to perform the job. However, if you do pay yourself, keep in mind that (1) you need to document what you do and how long you take to do it, because your bill is subject to review by the court; and (2) it's taxable income to you -- the estate needs to issue a 1099 and you need to pay self-employment tax. I would be cautious about paying yourself right now until you work things out with your sister -- it may be better to get the court's authorization first.

I strongly advise that you get legal help from an attorney who does a significant amount of estate administration work. While you have the right to move in to property which you own, the situation with your sister has the potential to become very ugly. A good attorney will review the terms of the will, advise you about your rights and duties, and how to best approach this difficult situation.