Paul Cooke - SELLING AN INHERITED HOUSE

CHAPTER 3 Distribution Among Family Members & Heirs

While drafting a will, its maker usually makes provisions for the major parts of his or her estate—cash, stocks, expensive jewelry, real estate and heirlooms. However, it is common that people do not make provision for most of the more mundane personal property items in their will—furniture, automobiles, household effects, and the large number of other items acquired and stored over a lifetime. The usual provision is that the remainder of the estate be divided equally or equitably among the heirs. Dividing the personal property of a deceased family member is emotionally challenging and can engender hard feelings and give rise to disputes among heirs. To assist with this, here's an equitable process outlined below:

1) SORT OUT ITEMS F T ITEMS FAMILY MEMBERS INTEND TO KEEP

This first step requires the time, energy, and fortitude to go through every item in the house that you or your family members intend to keep. When it's closely following a loss, it can be painful and exhausting to inventory and dispose all the possessions left behind. Before moving beyond this step, it is crucial to establish a boundary or limit to who among the family members possesses the right to keep sentimental items or properties, especially among siblings. If the will or law requires the property to be 19

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