Legal Question in Wills and Trusts in Michigan
Hypothetical question: A mother is the lone surviving spouse and has 4 kids. Amongst the items in her estate is a piece of property ( home with a FMV of approx. $2M). The Will stipulates that the home stay in the family and it is passed to the 4 kids equally. Two of the kids want nothing to do with the property and the other two want to keep it and use it (and presumably maintain it). Do the first two children have any claim to "a share" of the FMV (say $500K) or would they have to walk away with nothing unless all 4 children agreed to sell the property?
1 Answer from Attorneys
Much depends upon the precise terms of the Trust or other document governing the real estate. It "stay in the family" means the house cannot be sold until some appointed time, then the house cannot be sold until that time, absent other factors. Whether the house can be sold or not, the other children who "want nothing to do with the property" do not lose their share of the FMV unless they expressly forfeit it or fail to do whatever may be required of them in the estate documents, if anything.
I hope this is helpful. If this is more than a hypothetical question, you can contact me at the points noted below, or [email protected] for more information.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
