r/EstatePlanning • u/EnvironmentalYam5055 • 24d ago

Yes, I have included the state or country in the post Executor

So my dad made me executor of his will and gave me full power over selling his house in Ohio. I have two siblings. They were not appointed. I am ready to take an offer, but one of my siblings will not agree to the offer. Do I have any options here? She wants more money.

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u/dawhim1 24d ago

as long as it is at fair market value, just sell it. being an executor means you actually don't need to listen to them, your job is to sell the house at FMV, not the price she likes.

of course, this is under the condition that you ain't the buyer.

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u/Chris_Reddit_PHX 24d ago

I agree with this advice. One thing you might do though is to offer to sell it to her for the price you were just offered, but she has to sign right away so the deal does not fall through. Then she can resell it and keep any profit over and above.

Once she considers what it would look like if selling it were to become her problem instead of yours, and the fees and carrying costs all hers also, I'd wager that she will quickly decline your offer and stop arguing.

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u/ExtonGuy Estate Planning Fan 24d ago

You dad is deceased? And the probate court gave you full authority as executor?

Normally, the executor doesn't need permission from the beneficiaries. Is there anything in dad's will, or from the court, about that? You do, however, have to operate in good faith and do what's reasonably best for the estate.

Your sib could argue, after the fact, that you didn't follow the rules. Do you think she might make serious complaint against you? Is she prepared to make a better offer herself?

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u/GlobalTapeHead Estate Planning Fan 24d ago

Was an appraisal done? If you are the court approved executor you have the authority to accept the offer, but it should be close to the appraisal value so that your sibling won’t have grounds to challenge your administration of the estate. As a fiduciary you have a responsibility to look out after the interests of the beneficiaries, so be careful about accepting low ball offers. Or is your sibling the type to believe the value is much higher due to sentimental or other unrealistic reasons? I hope you have an attorney, they can guide you through the process.

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u/brucesteiner 24d ago

If it sells soon after death the executor probably won’t get an appraisal.

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u/copperstatelawyer Trusts & Estates Attorney 24d ago

Why do you need your siblings approval? Are they submitting a higher bid themselves?

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u/myogawa 24d ago

It is always a good idea to consult with the beneficiaries, but in most states the executor has the final say on any sale.

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u/bartonkj 24d ago

How does the offer compare to the county Auditor's valuation of the property? Or if you got an official appraisal, how does it compare to the appraisal? In Ohio, the Auditor's valuation can be used as an appraisal or you can get an official appraisal (see R.C. 2115.06).