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no will, no great wealth...

  • Thread starter my own advisor...
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my own advisor...

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My parents have both passed away, my dad recently, mom-two years ago. I have had power of attorney for years. There is no will and very little assets. They owned a mobile home that has been on my property for almost 20 years. I have 8 siblings who are very agreeable to settling his estate without courts, attorneys... However, can we do it? (live in KY) We all agree to divide their personal belongings (no auction, sale...) and I would like to purchase mobile home. Please advise if we need to seek an attorney. The total assets would be less than $10,000. Can we just sign some sort of agreement stating that all monies is equally divided after the sale of mobile home, etc? We are very saddened, not greedy and agreeable to agree... Thanks
 


ALawyer

Senior Member
In fact, that's how most estates are handled. Absent creditors, or real estate or other "titled" property such as cars, and absent estate taxes (that start at $675,000) and absent disputes over who gets what, people just do it. ..

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Whaleman72

Guest
The only monkey wrench I see is title to the motor home. You should contact your Department of Motor Vehicles to see how you can obtain title to the motor home. Explain the situation to them.

Many states allow you to settle small estates quickly by way of an abbreviated probate process. Go to your local Surrogate's Court and ask them if they have this process. It is usually very simple, requiring a death certificate and that you fill out a simple probate application. No attorney is needed for this type of an estate from what it sounds like.
 

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