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Dwayne B.
Dwayne B., Attorney
Category: Estate Law
Satisfied Customers: 33554
Experience:  Estate Law Expert
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A will of a widow is set up to have all of her assets(stocks/bonds),

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A will of a widow is set up to have all of her assets(stocks/bonds), banks accounts, CD's,insurance policies and real estate to be divided 50?50 between the two children(the only heirs). How will the execution of dividing the real estate be handled. All of the other assets could be converted to money and equally awarded to each heir. Both pieces of real estate are coveted by the heirs.

JD 1992 :

Hello, and thank you for contacting Just Answer. I am an expert here and I look forward to assisting you today.

JD 1992 :

I'm not sure what you mean by "how will the execution be handled"?

JD 1992 :

Can you explain?

Customer:

Will the two pieces of real estate need to be sold and the monies split 50/50? Who would be the party to sell the properties and would be the timeline?

JD 1992 :

The executor of the estate will handle disposing of the property if it is necessary.

JD 1992 :

When it happens depends on the rest of the estate.

JD 1992 :

Many times the executors will allow the heirs to keep the property if they can agree on which one takes which piece and if the money from the real estate isn't needed to pay debts.

Customer:

If both heirs are listed as equal executors, and the two properties are of different values; how would the awarding be equal.

JD 1992 :

The court could award money or other property to make up the difference.

JD 1992 :

However, having two executors is usually a very, very bad idea.

JD 1992 :

What happens is they end up not agreeing and the court has to be more involved, the attorney's fees get higher and usually the lawyer ends up having to withdraw and they end up having to hire two more because they create a conflict of interest with the first lawyer.

Customer:

Thank you JD. This has been a great help.

JD 1992 :

Great. Any other questions I can assist with?

Customer:

Not at this time, but I will seek YOU out in the future for any general legal Q's. Thanks again.

JD 1992 :

You're very welcome.

JD 1992 :

Best wishes to you. Please don't forget to leave a Positive Rating (of course I'd suggest Excellent) by clicking on a rating or a Smiley Face below so I get credit for my work. The experts only get credit from the website when you issue a Positive Rating.

JD 1992 :

I'll exit now to assist others. Look forward to helping you again in the future.

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