If my brother and I inherited property but he recently died and his estate is in probate, do I have to pay his estate half of the appraised value?

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If my brother and I inherited property but he recently died and his estate is in probate, do I have to pay his estate half of the appraised value?

Even if I think the appraisal is way too high?

Asked on June 26, 2013 under Estate Planning, Illinois

Answers:

Anne Brady / Law Office of Anne Brady

Answered 8 years ago | Contributor

This really depends upon a lot of things.  1) How is the property titled?  If titled as tenants with rights of survivorship, then when your brother passes, the entire property reverts to you.  If it was titled as joint tenants without survivorship rights, then maybe you do have to pay the estate.  2) Did your brother leave a will?  If he did, then the will will dictate who gets his share of the house.  3) If he did not leave a will, then the intestacy law of your state will apply.  The first question is always: Was your brother married?  Secondly, did he have children?  Are either of his parents still alive?  Are you his closest living relative?  All of those things will figure into making that determination.  As to the appraisal, if you do have to pay the estate, the executor will choose the appraiser and what s/he says will go.


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