Do the proceeds of a house sale have to be used to satisfy 2 monetary gifts?
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Do the proceeds of a house sale have to be used to satisfy 2 monetary gifts?
My father left 2 gifts in his Will – 1 for $5,000 and 1 for $25,000. It further stipulated that his residence be sold and the proceeds thereof added to the residuary estate. What if there is not enough money in the estate (besides hte house sale proceeds) to satisfy these gifts?
Asked on March 26, 2013 under Estate Planning, Delaware
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 11 years ago | Contributor
Your state law will say how the money is distributed. This is a technical question and probably has arisen before. Consult an estate attorney in your state for the answer. It could go either way.
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