Legal Question in Wills and Trusts in Pennsylvania
Divison of assets
My grandfather recently passed away leaving his estate to be divided evenly between his two grandchildren and his two step sons. I was named as one of the two executers. One of the parties would like to retain the home that is included in the estate. I do not have a problem with this and neither does anyone else as long as the value of the house is part of the distribution to that individual. This party feels that the value of the house should be excluded from the total of the estate to be divided. My feeling is that all the assets should be totaled and divided evenly. Does the party that wants to retain have any legal recourse to exclude the home from the estate? The will states that all property and monies are part of the estate.
1 Answer from Attorneys
Re: Divison of assets
The house should be part of the estate, it does not need sold but an appraisal should be done to determine the value. Their are taxes due and other items that need considered. If you have any questions contact my office for a no cost initial consultation.
Brandon Barnett 412-916-1677