Legal Question in Wills and Trusts in New York

My husband recently passed away and left me and two children from another marriage as heirs. He has only one significant piece of property, his real estate, which he and I were both living in when he died.
My question is: do I HAVE to sell the property and distribute its proceeds to his two children in order to complete a Judicial Accounting and satisfy their intestate rights, or can I just keep the property but pay the two heirs their intestate shares through a payment plan?
As I stated I live in the house that is his only asset of real value, and it is impossible for me to satisfy his children's intestate shares from other assets of the estate. But I would like to not have to sell my home since I was living there before he died, so I just want to know if I can simply complete the Judicial Accounting by setting up a payment plan to his children in the amounts of their intestate shares?

Asked on 6/30/11, 9:18 am

Arnold Nager Arnold H. Nager, Esquire

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You don't indicate how the deed on the house reads or whether or not your husband had a will.

Without that information, a complete and correct answer is not possible.

Answered on 6/30/11, 9:26 am

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