Family Feud

[needsomehelp224]

my grandmother and grandfather have recently passed away. my father is the executor of the will. the problem is that one of the 4 children wants his share. the other 3 want the house to remain in the family. the 1 child has lived in the home for many years and the other 2 children want him to continue to do so and are willing to give up their shares of the inheritance for him to do that. what do you think would be the best way to approach the matter legally and would it be a bad idea in this situation to probate the will?

 

[needsomehelp224]

sorry forgot to mention location is PA

 

[needsomehelp224]

there is approx. a total of $100,000 owed in debts. the value of the home is approx. $230,000. he is willing to pay the bills but can't afford to buy out the son that wants his money. if sold and everything is paid we are looking approx. $20,000 a piece. what is the best advice? should we probate or wait?

This is just an extra piece of the puzzle for you.

 

[Stoli]

hope this helps

This is just advice from one heir to another. Study your states laws on the subject. Get as much info as you can. My best advice is to get as educated as you can in the matter and even then you need a lot of luck! Look into partitioning and maybe put together some kind of offer to buy the otherguy out. Just remember if it is up to the Judge to decide, he is not living the situation and can only make a decision based on what is presented to him.
Good Luck!