executor2b
Junior Member
What is the name of your state? Texas
I am the executor of my mother's estate. The will has my borther and me split everything evenly. The estate consists of her residence in Texas, worth $100K, with a $68K HELOC on it. The original mortgage has been paid off. She owns a farm in Oklahoma, worth $160K. She had $25K in credit card debt and $6K in medical bills. She has about $2K in cash, etc. My borther and I each will get $45K in life insurance in the next few weeks ($50K - $5K for funeral). There are no other assets or debts. It was always her desire for me to get the farm and my brother to get the house, then split anything else equally, even though the will is not written like that. That is also the desire of my brother, who only wants the house and for me to have the farm. He knows that I would be getting the better deal financially, but that is OK with him. We are willing to spend our combined $90K to pay off the HELOC and other debts so that we don't have to sell the farm or house. I am even willing to take out a mortgage on the farm just so that it stays in the family. Will a lawyer be able to help me execute the plan the way that we all want, so that my brother gets the house outright with no mortgage, I get the farm (possibly with a mortgage)? As I wrote, we are willing to spend our life insurance money.
I am the executor of my mother's estate. The will has my borther and me split everything evenly. The estate consists of her residence in Texas, worth $100K, with a $68K HELOC on it. The original mortgage has been paid off. She owns a farm in Oklahoma, worth $160K. She had $25K in credit card debt and $6K in medical bills. She has about $2K in cash, etc. My borther and I each will get $45K in life insurance in the next few weeks ($50K - $5K for funeral). There are no other assets or debts. It was always her desire for me to get the farm and my brother to get the house, then split anything else equally, even though the will is not written like that. That is also the desire of my brother, who only wants the house and for me to have the farm. He knows that I would be getting the better deal financially, but that is OK with him. We are willing to spend our combined $90K to pay off the HELOC and other debts so that we don't have to sell the farm or house. I am even willing to take out a mortgage on the farm just so that it stays in the family. Will a lawyer be able to help me execute the plan the way that we all want, so that my brother gets the house outright with no mortgage, I get the farm (possibly with a mortgage)? As I wrote, we are willing to spend our life insurance money.