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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 35382
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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Our deceased father's estate has been in probate from the

Customer Question

Our deceased father's estate has been in probate from the time of his death in Mar. of 2015. The will had not been updated since he and our step-mother's move from another town several years earlier, so even though our dad owned the home and had willed it to his three children, it has been in probate in part because the will wasn't current and the house listed was the one from their previous residence. Today, December 5, 2015, I first rec'd paperwork re: this as our step-mother had drafted. The paperwork includes the Proposal for Distribution; Consent to Final Acct, Distribution Estate and Waiver of Notice and Hearing; Final Acct.; and Stipulated Order for Distribution, along with Exhibit A (proposed deed of distribution).
I have two other siblings: I, a female, being the eldest, followed by two younger brothers. The proposed distribution reads as follows: My step-mother, being the personal representative of the decedent's estate propose to distribute the estate in the following manner:
Eldest brother: Amt./Share=1/3 interest in real estate subject to right of step-mother, my amt./share and my youngest brother are to receive 1/3 value of real estate subject to right of step-mother.
My first question then is what is the difference between my eldest brother receiving 1/3 interest and myself and younger brother receiving 1/3 value?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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The plain language interpretation of that clause would seem to indicate that the estate is basically "cashing you out" of your interest in the house by paying you 1/3 of the fair market value of the house. Eldest brother would appear to be inheriting 1/3 of the house and then may be taking out a loan to pay the estate 2/3 of the value of the house which would then be paid out to you and younger brother.

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Obviously you would want to inquire into this and confirm with the executor of the estate if this is what it means..

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thanks

Barrister