Virginia | Wills and Trusts
7/29/11, 11:01 am
Legal Question
My mother died intestate in 2001, & my two brothers & myself inherited her land & the mobile home on it, which at the time was valued at approx. $20,000. We never filed to put it in our names or anything, & one of my brothers just continued to live there. Do we have to pay inheritance and estate taxes, and if so, will it be on the value at the time of my mother's death, or on the current value, which is approx. 80,000? Will there be a penalty for not filing a "real estate affadavit?"
Also, can one heir decide they want to sell and be able therefore to force the others to sell even if they don't want to?
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Read More Answered By: Michael E. Hendrickson |
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