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My husband is the decedant and the estate includes 3 vehicles…

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My husband is the decedant...
My husband is the decedant and the estate includes 3 vehicles and a small bank account. the estate value is $57,000. The heirs are myself,wife, and 3 children. Must I sell vehicles to distribute to childen there share of the estate.
Submitted: 6 years ago.Category: Estate Law
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Answered in 1 minute by:
2/18/2012
Estate Lawyer: texlawyer, Attorney replied 6 years ago
texlawyer
texlawyer, Attorney
Category: Estate Law
Satisfied Customers: 4,833
Experience: I have assisted many customers and clients with their estate law questions and experienced in estate law litigation.
Verified

TexLawyer :

Is there a will?

Customer:

no

Customer:

i hope you are not done with my question

Customer:

i clicked the accept button before you were done answering

TexLawyer :

I'm sorry, I just stepped away.

TexLawyer :

If there isn't a will, you will administer the estate through the courts.

TexLawyer :

In the process, the court will appoint someone an executor, and that person will divide up the assets.

Customer:

will the courts make n

TexLawyer :

Unless one of the other heirs want so "purchase" one or more of the vehicles, either with cash or out of their portion of the estate, the court will force the sale of the vehicles.

TexLawyer :

Ultimately, even if the court does not require the sale, the person who inherits the vehicles can simply sell them for cash.

Customer:

the estate is the vehicles so they have no portion of estate in which to buy vehicles

TexLawyer :

OK. I wasn't sure how much was in the bank account.

Customer:

who inherits the vehicles all of us or just me the wife

TexLawyer :

Assuming everyone is to share equally in the estate, there would be no equitable way to divide up the estate without selling the vehicles and dividing up the cash.

Customer:

the bank account is $3,000

TexLawyer :

Exactly who died and how many children did the decadent have?

Customer:

my husband died and there are 3 children all adults.

TexLawyer :

What state are is this in?

Customer:

maryland

TexLawyer :

OK. One half of the estate goes to you, the other half is divided among the three children.

TexLawyer :

So, assuming nobody wants the vehicles, they would be sold and you would get 1/2, and each of the children would get 1/6 of the money.

Customer:

so i can decide which child gets wha

TexLawyer :

They are each entitled to 1/6 of the estate.

TexLawyer :

You have to bring this in court. There is a process to probate a small estate.

TexLawyer :

So, to answer your question, you don't get to decide on your own how to divide things up. A judge will oversee the process.

Customer:

in maryland this is considered a regular estate not a small estate

TexLawyer :

Let me check the limits. They change from time to time. Give me one minute.

texlawyer
texlawyer, Attorney
Category: Estate Law
Satisfied Customers: 4,833
Experience: I have assisted many customers and clients with their estate law questions and experienced in estate law litigation.
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