I would like to make a will leaving my house to one child, but requiring the other child to get a portion of what the house is worth. I'm doing this because I know one child wants the house (they grew up in) and the other child would just rather have money. I dont have much money to give so is it possible to put in my will that the child who receives the house must have a fair market appraisal done on the house and give the other child 25% of whatever the appraisal value is; to be paid out over a period of a year? If so how do I do this so that it is legal and legit and not open to discrepancy or dispute amongst the children?
2007-12-14 12:34:07 · 4 answers · asked by ? 3 in Politics & Government ➔ Law & Ethics
I say give 75% to one child and 25% to the other and let them work it out.
2007-12-14 12:39:26 · answer #1 · answered by feanor 7 · 0⤊ 0⤋
Why would you want one child to pay the other child? Something doesn't sound right. If one kid wants the house leave it to them and maybe leave the other some of the furnishing and such to sell.
2007-12-14 12:39:52 · answer #2 · answered by luv_doesnt_hurt_lies_do 4 · 0⤊ 0⤋
Attorney.
2007-12-14 12:38:30 · answer #3 · answered by thresher 7 · 0⤊ 0⤋
You DEFINITELY need an attorney in this case. I personally don't think your plan is a good idea, but it can probably be done legally.
2007-12-14 13:30:34 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋