house and will not signed

[sweet bear]

Just looking for some ideas ?When A will is done out and not signed and there are 3 siblings. one living at home the, does the house Automatically go into to Probate and then divided ? or is probate done on its own with the person's assesses and house is sold? or who owns the house ?

Even though the Wll isnt signed and person at home is to get the house would they be entitled to keeping the house if it went to court and the other two dont contest it ? or will it be decided the house should be sold. ?
Sweetbear

 

[dodo]

If no will is made then estate would be divided by 3 ie 3 siblings, Say eg house worth 600K 200K each by law of the land if there is no outstanding taxes owed, So all 3 would pay no tax on 200K as it is under threshold for tax, ie if parent left you more than 460Kor something close to that figure then tax is oweing on money above mention figure. So if your siblings wanted you to have their share then you would receive around 50K tax free from them but would have to pay tax on anything above that amount ie tax on 150K, So if your siblings are happy for you to have the whole estate then you better get will made stating the same, So if house is worth less than around 460K and left to you then you pay no tax, But say house is worth 560K will could state 50K to be left to siblings and 460K to you (use % when doing this) Then your siblings could in turn hand you over 50K each with no tax oweing,

Just looking for some ideas ?When A will is done out and not signed and there are 3 siblings. one living at home the, does the house Automatically go into to Probate and then divided ? or is probate done on its own with the person's assesses and house is sold? or who owns the house ?

Even though the Wll isnt signed and person at home is to get the house would they be entitled to keeping the house if it went to court and the other two dont contest it ? or will it be decided the house should be sold. ?
Sweetbear

 

[sweet bear]

thanks Dodo...