Will dictates house to be sold - how long does executor have to sell?

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Cath Ann

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Mother's (still with us) will is straight forward (no debt/ no mortage) but states her house is to be sold (no timeline mentioned) and entire estate to be divided equally between her three adult children . Brother currently lives there as her carer. I am sole executrix. He can't afford to buy the home from his siblings even with major discount . Mother's wish is that he leave and buy / rent smaller home (he will inherit enough to do so). Don't wish to have to move him in a very tight timeframe. How long will Probate allow for house to be sold? ie is that up to executor or is there a standard time period? Thanks for any advice
 
Also review other posts where siblings remain in family home after parent has died & don't move out
 
Cath Ann said:
Brother currently lives there as her carer. I am sole executrix. He can't afford to buy the home from his siblings even with major discount
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What major discount? If the resident sibling buys your mother's home his "discount" is the 25% he will own through your mother's will, post probate based on market valuation by a professional. Beware of offering "discounts" over and above the 25% ownership, you may create tax-problems for all and sundry.As executrix your job is to maximize the value of the estate for the beneficiaries
 
Bear in mind the house can be put on the market whilst probate is taking place but the deal can't be closed until probate is finished. Depending on where you are and the competency or otherwise of your solicitor, realistically you're looking at 6-9 months minimum for that
 
Cath Ann said:
Brother currently lives there as her carer.
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It's clearly the mother's right to divide everything equally between the 4 children.

But I have always felt that if a child, usually the daughter, minds the mother, the child should be rewarded for this.

If the other three children are agreeable to this now then it might be worth discussing it with the mother and planning for it in the will.

Brendan
 
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