So one parent left in house (Value circa €300k), two offspring living in their own houses in the locality. (Second parent recently past, and other parent likes to be organised so is wanting to prep the will now; has informed both children of the intention)
Intent of house owner is to will the house equally between the two kids and for it to be sold within 1 year of passing.
One of the two mid 40's married no kids lives in a remote village in a house valued circa €150k, the other lives close by the principal residence and has 4 kids in a house valued circa €800k.
The dilemma here the first sibling living remotely has expressed an interest in buying the property, but states they could not afford it, (and also stated they would not have the same money as the other sibling, when in fact they most likely have more disposable income) if it was to be sold on the market. (Note there own property will most likely be hard to sell or take a lot of time)
The other sibling has expressed that she would like her sibling to live closer as they move into there older years as her and her husband have no other family, and if needed could be looked after by her she is younger and will also have 4 kids in teenage years at that stage to help if needed and not to loose the family home by selling it.
What is the best option here? Is it just to sell the property and remove any of the emotional attachment or is there some arrangement that can be made where either sibling don't loose out on there fair share?
Intent of house owner is to will the house equally between the two kids and for it to be sold within 1 year of passing.
One of the two mid 40's married no kids lives in a remote village in a house valued circa €150k, the other lives close by the principal residence and has 4 kids in a house valued circa €800k.
The dilemma here the first sibling living remotely has expressed an interest in buying the property, but states they could not afford it, (and also stated they would not have the same money as the other sibling, when in fact they most likely have more disposable income) if it was to be sold on the market. (Note there own property will most likely be hard to sell or take a lot of time)
The other sibling has expressed that she would like her sibling to live closer as they move into there older years as her and her husband have no other family, and if needed could be looked after by her she is younger and will also have 4 kids in teenage years at that stage to help if needed and not to loose the family home by selling it.
What is the best option here? Is it just to sell the property and remove any of the emotional attachment or is there some arrangement that can be made where either sibling don't loose out on there fair share?