Hi and welcome back to JA. I have to guess that this relates to the life estate you would have here under the laws of intestacy.If you look at the reference I gave you previously it referenced that your husband and now you would have a life estate .
Intestate Succession in Rhode Island
If you die without a will in Rhode Island, your assets will go to your closest relatives under state “intestate succession” laws. Here are some details about how intestate succession works in Rhode Island.
Only assets that would have passed through your will are affected by intestate succession laws. Usually, that includes only assets that you own alone, in your own name.
Many valuable assets don’t go through your will, and aren’t affected by intestate succession laws. Here are some examples:
So it appears he is trying to claim that you share here at least the life estate is worth less because of your age.Again to me he is low balling you as far as this offer in comparison to what I think you are due in probate court.To me you ought to be able to get much more.
I do think a lawyer can over the value of the house, the laws of intestacy and discuss a much higher counter offer based on what your share here is under the law.To me he is just trying to see how desperate you are and whether you will take a low offer without checking into your rights and what you would be due in probate.
I think a lawyer here can get you much more in a fair negotiation quickly and that he or she would pay for themselves as this offer seems ridiculously low.I mean you cannot blame them for starting low but I think they will come up a lot and I know you need the money.
This could well provide for you in your coming years.
Thanks for following up here and letting me respond.Please let me know if you have more follow up.
Reference tot he laws of intestacy.
You are an angel Ray, and so right on about "thinking I am desperate". Even though I am, I will not be taken for a fool. Your help has been invaluable. I will let you know how it's going. Joan
Thanks Joan I wish you the best.
I appreciate the chance to help.
If you can leave a positive rating it is always appreciated.
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