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PROBATE RIVALS CUBS FUTILITY RECORD

July 27, 2005

The Death and Taxes Blog notes an LA Times story about a house that has been in probate since 1925. From the Times article (free registration required):

"This is our birthright, our homeland; we can't sell this property," said Joyce Perry, 50, of Irvine, who is trying to encourage family members to buy the house from the estate.

But Perry's second cousin Sylvia Hawk, 64, of Yorba Linda wants to sell the property and split the proceeds among family members. "It's time to move on," Hawk said. The feud has escalated to the point where some relatives speak to each other only through attorneys.

The house is now valued at over $1 million.

A well-drafted will would have solved this in absolutely no more than 50 years. Even if you don't have estate taxes, you need a will; otherwise, your probate could haunt your great-grandchildren.

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