Q: In Ma- I inherit 12% of my parents house upon their passing. Is that value the year they die or the year house is sold?
A: It's not a value; it's a percentage. You are a 12% owner. When the property is sold, you should expect to receive 12% of the net proceeds. However, other factors can change the final distribution, and you should seek the advice of counsel if you don't agree with the final distribution.
A: Normally if the home is sold and administration costs and estate debts are paid the net share is divided in accordance with the terms of the Will, but without reviewing the will to determine if it states instead that the real estate is not to be used to pay estate administration and estate debts and that those are to be paid from another asset of the estate this cannot really be answered .
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