Legal Question in Wills and Trusts in Michigan
Family Estate...
My mother passed away a few years ago and left several homes, property, etc. There are five siblings, two of which occupies a home each which are in the trust. My mother's estate will be finalized soon. Each sibling is arguing that they should receive both money and the homes, which they've been told by the attorney, will not be the case. They must make a decision as to which they prefer. If the homes are valued at more than what they would receive in money, would they owe anything? And if the homes are valued less than what they would receive in money, are they entitled to any money plus the homes? If there isn't enough money to settle the estate, could the homes be sold to satisfy the estate's obligations, forcing the sibling to move and take whatever money is available?
1 Answer from Attorneys
Re: Family Estate...
Depends upon what the will states. Does it specifically bequeath the home to a sibling whether or not it is the occupying sibling? If yes then the home goes to that person. Homes are passed normally as specific bequests of real property where as cash etc under the residuary clause (normally) unless a specific bequest is mentioned there as well... Whether or not the home is subject to sale to satisfy the distribution of estate is also mentioned in the will with specific instructions to the Personal Representative/Executor so named in the will.
This question is really about the specific provision that a person might have made in her Will, hopefully in consultation with her attorney. Since this matter is subjudice, I would specifically refuse to make any assumptions and predict an outcome.
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