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Anonymous2 views3 answers
Dad passed in June 2015 and there are three children. All of us are named in the will to divide the estate equally. Our dad had two properties, his residence and another that our dad allowed a sibling (Let’s call this person “N”) run his business out of (Let’s call that property B). Property B is willed to N as part of his third. The other two siblings have a question about property appraisal and possibly hiring a separate attorney; we are all currently represented by one at the moment. Property B is in a high commercial area but is not zoned commercial. The other two siblings are asking for residential and commercial appraisal but the lawyer says the property value will be the value at the date of death??? Not sure about how that works?? So…what about the other property?….if we sell that at a later date and the value goes up….we would get that amount. N is the executor, is very difficult to work with and we feel like the attorney sides with him a lot. If the other siblings want to hire their own attorney, would we still be committed to the current one?
I sincerely doubt that you are all represented by the same attorney. I am guessing that the sibling you call "N" is represented by the attorney. You and your other sibling should strongly consider getting your own counsel.
As to the value of the property, the attorney is right the value of the property is the value at the date of death. But that value can be determined by an appraisal. So the reply sounds like a brush-off but it's hard to say without knowing more.
Christopher Allyn SevickResidential Real Estate LawyerAnn Arbor, MI ·
I agree with Mr. Ceci in his answer. It is likely that your sibling "N" is represented by the attorney as the personal representative, but it may be that you are all represented as beneficiaries, but that is not as likely. Date of death is the value used to determine property, but if it sells later for more, depending on what the will says, 1/3 each, the funds would be split that way. However, despite the best goal in obtaining a commercial appraisal what dictates is that the property would sell for, now what it could be used for and valued at in "three years" when new zoning occurs. So, keep in mind that the appraisal will value the property now, or date of death, and that should be what is offered to "N" to purchase the other two of you out. If "N" is using the property for other than allowed zoning your waiting in this my raise issues with the municipality, zoning, water/sewer/electric/gas services that may change service rates, allow or disallow usage and other items so be prepared that such may occur if this takes too long and the municipality follows up on questions asked, inquiries made.
In Michigan an attorney for the estate is not supposed to represent any one beneficiary or the personal representative. You should get your own representation if you feel your rights are in jeopardy. Good Luck,
~Katie
