I want my brother to inherit my estate. I've three other siblings. Do I need an attorney? What could go wrong? (2024)

FAQs

What happens when three siblings inherit a house? ›

Generally, between siblings, you would each own an equal share of a house. Two siblings may inherit a house 50/50 and three siblings would each inherit ⅓.

My brother won't give me my inheritance

Engaging a qualified estate attorney can guide you through the legal process, ensuring you receive what you're entitled to. Withholding inheritance can have legal consequences, and your attorney can help protect your rights.

When siblings are legally determined to be the surviving kin highest in the order of succession, they will inherit the assets in their deceased sibling's Estate. And they inherit it equally. If there is one surviving sibling, the entire Estate will go to them.

Either sell the property (if the will or trust permits you to do so) or divide the property according to the terms of the will or trust. Divide the proceeds from the sale (if applicable) among siblings in accordance with the percentage of each's ownership interest.

Involving the court is a last resort for most people, but if you and your sibling can't reach an agreement on what to do with the property, a partition suit may be needed. Partition lawsuits ask the judge to order the home's sale in order to terminate the co-ownership – but the legal process is rarely that simple.

Strategies parents can implement include expressing their wishes in a will, setting up a trust, using a non-sibling as executor or trustee, and giving gifts during their lifetime. After a parent dies, siblings can use a mediator, split the proceeds after liquidating assets, and defer to an independent fiduciary.

Yes, siblings, including brothers, have the legal right to file a lawsuit if they believe their inheritance rights have been compromised due to undue influence or changes in the will. If there's suspicion that the will was tampered with malicious intent, they may challenge the will's validity in court.

Recovering Stolen Inheritance: If you believe your sister has unfairly taken your inheritance, the most common recourse is to file a civil case. Additionally, if the circ*mstances warrant it, you can also consider pursuing a criminal case with the police.

“Give the house, the land or the business to just one child and make up the difference with a monetary share for the others. Alternatively, stipulate that the asset be sold and the proceeds divided evenly. That way, the one who really wants the asset can buy the others out.”

Should Each Child Get the Same Inheritance? Dividing up your estate and giving each of your kids an equal share may make the most sense if their histories and circ*mstances are similar—that is, they have received similar support from you in the past, they are responsible, and they are emotionally and mentally capable.

Why do siblings fight over inheritance? ›

Common Reasons Siblings Fight Over Inheritance

Surprises in the will: If the family hasn't seen the will, there may be surprises that they weren't expecting and may think are unfair. Unequal distribution: If a parent leaves more of their estate to one child than another, it can cause infighting.

For example, if 3 siblings inherit property together, each sibling may own one-third of the property. Or, they may own different percentages of the property, such as two siblings holding 40% each and one owning 20%. Importantly, tenants in common have the right to sell, transfer, or mortgage their share independently.

One good way is to leave the inheritance in a trust. The trust can be set up with some provisions, such as making distributions over time. A trust can also remove the issue of probate, allowing the inheritance to pass without issue.

A sibling inheritance buyout is when one sibling agrees to buy out the others to take sole ownership of the property. The buyout can be structured in various ways, but typically, the sibling who wants to keep the property will offer to pay the other siblings a fair market value for their share.

Capital gains tax on the jointly owned inherited property will be evenly split, based on the ownership stake, for each owner that inherited a piece of that property. Capital gains taxes are paid when you sell an asset. They are levied only on the profits (if any) that you make from this sale.

If you have named more than one primary beneficiary, or if the primary beneficiary is deceased and you have more than one contingent beneficiary and one of them has died, then the death benefit proceeds from your policy will typically be redistributed among the remaining beneficiaries.

One option is to utilize an estate or trust loan lender, which specializes in short-term financing for inherited property buyouts. Loans for estates are commonly referred to as probate loans as the estate typically needs to go through the probate process.

You can find a solution allowing the beneficiary to continue living in the house while addressing financial or legal issues. This could include renting the house to the beneficiary, selling the house and splitting the proceeds, or other arrangements.