Q: Grandpa passed 1995. Grandma in 2004. Both in S.C. My brother & I are heirs w/Uncle. How to find out what the value is?
We were just notified a petition to determine heirs was held 6/13/24. The Estate is fairly extensive... quite a few stock holdings. 2of the real properties are the show stoppers though...so much so, that our Uncle wishes to buy out our interest at $10,000 each for each property. ($20,000 each)...the properties are described Royal Island, Lot 19 & the Western 25' of Lot 18. Rxx Park Extension.
North by ? Court, South & ? Drive West 140.6' South by Lot 1 Block A of New Oaks Subdivision for a distance of 125' & West by Lot #20.
My Grandfathers Estate left 5 stocks plus the property. He left 1/2 to Grandma 1/4 to Uncle & 1/8 each to my brother & I. (Our Dad was killed 50 years ago, & Uncle is a widower, living in a nursing home w/no children.) Grandma left Uncle 1/2 & Brother & I each a 1/4. She had 3 stocks plus the properties.
I live in CA & my brother lives in OK
A: You and your Brother will need to hire a competent SC attorney to represent you all in that Heirship Proceeding. It does not appear that you have any idea what properties are involved or their values. Find a local attorney in the County of most of the lots. He should be familiar with the current values and the exact Court involved here. Both of you will need to go to SC for some of the hearings.
A:
To determine the value of your grandparents' estate, start by gathering all relevant documents, including wills, property deeds, and stock certificates. Since a petition to determine heirs was held recently, contact the probate court in South Carolina where the hearing took place. Request copies of the petition and any associated documents, as these will provide detailed information about the estate and its assets.
Next, consider getting an appraisal for the properties mentioned: Royal Island, Lot 19, and the Western 25' of Lot 18. This will help you understand their current market value, which is crucial if your uncle is offering to buy out your interest. Compare his offer of $20,000 for each property with the appraised values to ensure it's a fair deal.
Additionally, look into the stocks left by your grandparents. Identify the current value of these holdings, which may require contacting the companies directly or consulting financial statements. With this information, you and your brother can make informed decisions about the estate and whether your uncle's offer is reasonable.
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