Aaron1124
Regular Member
Myself, along with my 4 siblings are inheriting money from the sale of my deceased mother's estate.
I'll make a long story short. One of my brothers was left as executor of the estate. The house has sold for exactly $237,000, and all of us, save for my brother who is the executor, feels we are being ripped off.
He is trying to say that we're all going to receive $32,000 total. We are all asking him for an itemized list of deductions. So far, here is what he has supposedly come up with.
3% goes to realtor fees. 3% is $7110. That now leaves $229,890.
Now supposedly that $229,890 suddenly drops to $206,000 after "real estate taxes and the estate attorney for title clearance" So he is saying that over $23,000 is being spent on taxes and the attorney. I find that highly unlikely, but I'm not the real estate expert.
Now he is deducting $14,000 on a home equity loan that my mother had, which my father was a co signer on. If that's the case, it leaves us at $192,000.
Finally, he said there are about $8,000 worth of debt owed in my mother's name for creditor accounts. That leaves us at $184,000.
$184,000 split 5 ways is $36,800. All of us have noticed this. Also please note that these are estimates at this time, although the estimate of what we will be supposedly receiving is $32,000 - that is $4,800 for each of us that is not accounted for. $4,800 x 5 is $24,000.
That is $24,000 not accounted for. And that is IF all of the deductions are truly what he says they are at the time of the final closing.
Here's another thing to note. He has recently purchased a piece of property in the country for $25,000. He did this last month. I find it HIGHLY ironic that it's very close to the unaccounted money that has been mysteriously deducted from the profit.
All of us are highly suspicious of this. Whenever we bring it up to him, he gets very defensive and changes the subject. My question is, how can we all be sure we're not getting ripped off? What legal rights do we have in order to be sure that we're all getting a fair deal? I am far from a real estate or probate expert. Anyone familiar with the process, and what rights we have under Federal and/or Washington State law?
I'll make a long story short. One of my brothers was left as executor of the estate. The house has sold for exactly $237,000, and all of us, save for my brother who is the executor, feels we are being ripped off.
He is trying to say that we're all going to receive $32,000 total. We are all asking him for an itemized list of deductions. So far, here is what he has supposedly come up with.
3% goes to realtor fees. 3% is $7110. That now leaves $229,890.
Now supposedly that $229,890 suddenly drops to $206,000 after "real estate taxes and the estate attorney for title clearance" So he is saying that over $23,000 is being spent on taxes and the attorney. I find that highly unlikely, but I'm not the real estate expert.
Now he is deducting $14,000 on a home equity loan that my mother had, which my father was a co signer on. If that's the case, it leaves us at $192,000.
Finally, he said there are about $8,000 worth of debt owed in my mother's name for creditor accounts. That leaves us at $184,000.
$184,000 split 5 ways is $36,800. All of us have noticed this. Also please note that these are estimates at this time, although the estimate of what we will be supposedly receiving is $32,000 - that is $4,800 for each of us that is not accounted for. $4,800 x 5 is $24,000.
That is $24,000 not accounted for. And that is IF all of the deductions are truly what he says they are at the time of the final closing.
Here's another thing to note. He has recently purchased a piece of property in the country for $25,000. He did this last month. I find it HIGHLY ironic that it's very close to the unaccounted money that has been mysteriously deducted from the profit.
All of us are highly suspicious of this. Whenever we bring it up to him, he gets very defensive and changes the subject. My question is, how can we all be sure we're not getting ripped off? What legal rights do we have in order to be sure that we're all getting a fair deal? I am far from a real estate or probate expert. Anyone familiar with the process, and what rights we have under Federal and/or Washington State law?
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