Riverdale, NY Estate Planning Law Firms & Lawyers

You should consult a probate attorney in your area. I do not believe that your brother has the ability to sell the home now, as it belongs to your mother's estate since the date of her death. In all likelihood, an estate will have to be opened, as the property will have to be transferred by a Personal Representative's Deed.

There is very little likelihood of having any tax implications on an inheritance. In fact, its better to inherit property in many cases because the beneficiary gets to avoid potential capital gains taxes in the future. A simple will is probably all you need. But you could do a trust and avoid a probate when you pass away. But, a simple will would cost about $500 and you can do it and forget about it. And a trust will be about $1750, and will take some maintenance over the years. However, the trust will avoid a probate after you die, and the probate can be $2,500 to $3,500 or so. BUT, of course you don't pay for the probate. So the question is whether you want to pay out of your pocket more now so that the person who inherits your property can avoid a probate. Or whether you just want to do a will and forget about it and let them deal with it themselves later.

Probably a Trust would be the best vehicle to achieve what you want without a Trust into which you transfer all of your assets, what remains in your name when you die, will be subject to your wife's claims as she has certain priorities. Even if you have a Will that gives everything to your children, your spouse can file a claim in probate to elect to take against the will, in which case she would receive of what she would normally have received if you did not have a Will.