The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  https://boards.fool.com/i-don39t-want-to-leave-the-property-to-both-of-34962793.aspx

Subject:  Re: What's Your Retirement Income Style? Date:  10/24/2021  12:07 PM
Author:  YewGuise Number:  104830 of 106013

I don't want to leave the property to both of them, where they have to agree on everything from ... realtor selection to evaluation of offers.

Oh, I see you're already planning for the house to be sold. Yep, just one POA/Trustee/Executor, with the other as back-up, is cleanest.

I asked all my siblings to go through Dad's house and take whatever they wanted to keep/sell/donate, before I started prepping it for sale. They came and took very little, leaving the bulk of the clean-up to me. Just as well. I didn't actually need their help (although it would've been nice), I just needed them to have their chance so that later they wouldn't complain about whatever I did.

There are 1000's of decisions to make: what to keep vs sell vs donate, what repairs and/or improvements to make vs what to just disclose, which contractors to do the work, what to DIY vs delegate, what light fixture to replace the rusty one, what color paint, what type of carpet, which stager, which Realtor, which offer,...
The odds of any two people agreeing on everything are zero, even if they normally get along.

So it's great you're planning to minimize conflict in that regard, but I don't think "no joint ownership of anything" is the best solution.
Copyright 1996-2022 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us