Real estate property is one of the most valuable assets parents can bequeath to their children. However, real estate beneficiaries at times do things that complicate the inheritance process. Take these precautions if you suspect your parents have bequeathed their house to you so that you don't complicate the process:

Don't Comingle Your Money with the Estate

You shouldn't take or put money into your parent's property until it has been officially bequeathed to you. For example, don't use your money to paint the house or take out their silverware for your own use. Doing that would make it difficult to separate your resources from those of the estate when the time comes for asset distribution. Don't do it even if you were living with your parent just before their demise. You can only use your money to improve the home if you don't expect to get it back later.

Wait For the Executor

It is your parent's house, not your house, so you have no legal right to it as far as the law is concerned. In fact, children (especially if they are adults) do not have the right to automatic inheritance from their parents. Therefore, you should wait for the executor (or the court) to distribute your parent's property before taking possession of anything. This means you shouldn't move into the house, rent it out, or put it on the market before the executor's or court's directive.

Don't Interfere with the Executor's Job

Once the executor starts doing their job, help them whenever they need your assistance, but don't interfere with their job. For example, the executor may need your assistance in locating other family members or heirs; help them find those people. There are also cases where the house has been bequeathed to more than one child; in such a scenario, you can be helpful negotiating with your siblings to reach a mutually agreeable solution.

However, you would be interfering with the executor's duty if you have been living in the house with your parents and don't want to move out because you now view it as your home. Another example of interference is trying to influence the selling price of the house.

Hopefully, the above tips will help you navigate the probate process and you will get your inheritance without any complications. If you do hit a snag, however, talk to a probate lawyer to help you straighten the complications.

 

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