Legal Question in Wills and Trusts in North Carolina

You owe the estate $3,000. How can you and your siblings agree on an asking price for the vehicle? Vehicles need to be appraised for tax purposes. You cannot just pick a number that you think fits. If its an old vehicle, unless it is some kind of classic or is in pristine condition and has low miles, then it may or may not be worth $3000. Also, what does the will say about who is going to get the truck? Or is it to be sold and the proceeds equally divided? If the estate has enough cash to pay the bills and if the truck was to be disposed of in the residue clause with the proceeds equally divided among all the children and there are 3 of you, then I would pay each sibling $1000 and have the added $1000 included as part of your share of the net assets to which you would be entitled.