Preventing divided or undivided interest in a property
If my spouse predeceases me I would like my residence to go to my children, in equal shares, and per stirpes. Is it necessary to direct, in my Will, that my Executor sell my residence at the best price obtainable and distribute the proceeds to my children if I want to prevent my children from getting an undivided or divided interest in the property? It appears that my Will already gives broad powers to the Executor in exercising their judgement in the distribution of the estate assets, thus, I believe that although specifically mentioned the Executor my in fact already posses the power to sell the house and distribute the proceeds as I wish to have done (provided that my Executor is aware of my wishes).
Note: My goal is to prevent a dispute where one child does not agree to sell or does not agree on the sales price which would prevent and/or delay the others from selling their portion of the residence.
1 Answer from Attorneys
Re: Preventing divided or undivided interest in a property
You may want a noncontestability clause in your will. It basically states that anyone who contests the will is precluded from receiving under the will. Your will should also state that the executor has final say so in all decisions and absent abuse of discretion, the Court will uphold the executors decision.