Inheritance advice pls...

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Joined
16 Aug 2006
Posts
800
GD advice please,..
Situation: after recent bereavement of parent (both have passed away), my 2 sisters and I will inherit a sum of money and the house. It has been suggested that I move into the house, which I think is a good idea.

Now, lets say that the accounts/savings add up to 80K. The house is 180K.
I have my own house which is valued around 120K, with 70k left on the mortgage.

How do I go about ensuring that the value of the estate is shared relatively equally? I was thinking that my sisters could split the savings between them [40K each], and I would sell my home, give them the difference between the ideal split [180+80 / 3 = 86K] and the savings, so 40K ~ish.

Is that possible?
 
Thanks for replies.
The will named an aunt and uncle as executors, but we have agreed that they renounce and let us sort out the management of the estate. Everything has been left to me and my sisters. I think I'll be the one applying for probate since I'm closest to mum's home - one sister is in Australia, the other is 180miles away. So that's another reason why they suggested I move in to the house. It's probably twice the size of my house, has a garage, driveway, more wardrobe space for other half...etc.
So I'm getting a valuation done on the house, then sort out tax form and probate form.
I guess talking to an expert is the best course of action as I don't quite understand the process of releasing equity.
 
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