Legal Question in Wills and Trusts in New York
Not enough specifics in Last Will in NY
My dad died leaving only a house
behind. He had 3 sons, but 1 died
years ago; so 2 of us remained. The
dead son has 2 living sons. My dads
will has 1 article stating my bro can
live in the house for up to 2 years if he
wants. The next article states that in 2
years from the date of death, the title
should be transferred to me, my bro,
and the 2 sons of my late bro. He
didn't specify titling the house before
the first 2 years. My bro and I are
named executors. My bro and I want
to sell the house ASAP, before the 2
year mark. If we do, do we have to
split the money with my 2 nephews?
There is also an article saying and
money or residue is to be split
between me and my brother only.
1 Answer from Attorneys
Re: Not enough specifics in Last Will in NY
I have not seen the Will but try to answer your question from the facts given. It appears that the first 2 articles cover a specific bequest of the house, and what terms and restrictions are imposed on its sale (the 2 year residency). If the brohter who has the residency right is willing to sell now, sell the house ASAP. Its net proceeds go as the Will specifies and it appears to include your nephews. All other assets of the estate, after all bills, expenses and fees are paid, appear only to go to you and your brother (the residue) and would not involve your nephews. I need to see the Will to be sure my response is accurate.