So, I'm the executor...

Dad passed away 1.5 weeks ago. Mom passed in 2017. I was named executor over 15 years ago mostly because I'm the only kid in this area, sibs are 5 hours away and out of state.

I haven't given this much deep thought before but I did have to think about that eventuality, and it's here now. It may be too soon to start on this but I'd rather stay out in front of it. As, if I plan x amount of time it will most likely take 5X amount of time. 

My two sibs and I will need to do a sit down to decide on what to do with personal possessions, furniture, house, car etc. That will come but the weather has been kinda sucky lately and I wouldn't expect that any time soon. My brother got caught in the I-95 mess coming up for the funeral. 

Everything will be voted on between my sibs and myself.

My first thought is to contact a realtor/ appraiser for an appraisal on the property's current state. Sell furnished vs unfurnished. Sell as is or would any improvements raise the value (being reasonable though). 

Next, contact a general contractor for estimates.

I would recommend a new front porch. The present enclosed porch is mostly block and looks like something from the 50's. Something modern where folks could sit out in, although the view isn't much. Also, a small back porch redo.

I'm thinking eyeball appeal here.

A roughly 10 x 18' concrete pad in front of the garage which is gravel now. Garage needs a new man door for security as well as looks.

The interior is okay for what it is and I wouldn't remodel. A couple electrical and plumbing improvements which I could do. 

Yard is lumpy from Dad's garden and one side has a mound from where the basement dig out dirt went years and years ago. I'd like it leveled but that's a back hoe and dump truck job followed by a replant, but it would look better and be even with the neighbors yard.

I cannot imagine selling furniture and belongings on Craigslist or Facebook Marketplace, no berkeleying way.

After furniture and belongings are removed I'd probably hire a cleaning crew, carpet scrubs too. 

Had the discussion with my folks years ago of what to do with their belongings after their passing. No real definitive answer but Mom said there will not be an auction. I will honor that.

I was thinking an estate sale held by us kids. I only did a few googles but we could probably handle this but would need extra help. 

I was cleaning Dad's car this summer but only got the trunk, under hood and interior detailed. It came out nice, I was pleased. I'll do the paint in the spring/ summer. Needs the body shop though for a new grille and bumper cover respray after a light deer hit. Should have been turned into insurance but Dad said no. Maybe a $8-900 job but worth it to finish it off properly. Current book value in good condition is $12,750 last I looked. I think it's worth it but I could be voted down.

I've been handling the finances since Dad broke his hip in March 2021 so I am familiar. They'll be a E36 M3load of paperwork now for sure. 

I'll have more questions later for sure.

Just my initial thoughts for now.

Comments and suggestions will all be appreciated.

TIA

Sorry to hear of your loss. I hope you can get through the next phase as easily as possible.

Just going through that. Being executor is no fun. Agree on a lawyer and accountant up front with the family. Wills and estates seem to bring out stuff in the best of people and the closest families.

When my folks passed we had an auction to get rid of household goods.  It was a lot of work to get things ready, but then the auctioneer got rid of everything in a day and it was done.  We kids split the proceeds equally.  Prior to the auction, if there was some item or piece of furniture one kid wanted, we agreed on its value and that amount was subtracted from that kid's share of the auction proceeds.

A second option:  when my brother's in-laws passed he and his wife found an estate sale company who was able to take care of everything.  What didn't go on the sale they took away to resell later or dispose of.

In either case you do need to do some research to find a reputable auction house or estate sale company that you're comfortable with, but it worked out for us.  Fortunately there were only a few minor disagreements between siblings, there are plenty of horror stories about that but we all get along pretty well and worked everything out with no hard feelings.

As for home improvements, it may be tempting to try to do things yourself but unless you're trying to squeeze every penny out of the sale consider hiring it all out to contractors.  It will be less stressful on everyone involved.  Personally I wouldn't go overboard on updates, only do what's really necessary.

I would suggest hiring someone to do the estate sale. There's more stuff there than you think, and someone who does sales and auctions will have contacts and helpers that can get everything sorted, tagged, priced, and sold much easier than by yourself. Have a plan for things that don't sell though, donations, eBay, etc. 

I never met your siblings, but from my experiences, I'd say there's a good chance there will be some fights over what to do about or with one thing or the other. Your the executor, your vote means more than theirs if it comes down to it. 

In this market, unless stuff is in really bad shape, the house itself would probably sell just fine with minimal work. Although I've seen some crazy E36 M3 tie up a closing. When the wife wakes up I can get our realtors information for you. I  think  she works your area, or she might know someone who does, but she's been really great for us buying and selling, as well as for a few of our friends.

Don't be in a hurry, particularly in the winter. The weather can keep a lot of prospective estate sale customers way. That means some extra time and money keeping the house heated, but also helps take some of the pressure off of getting things ready to go. 

Sorry again for your loss. It's never easy, no matter how long you have to prepare for it. 

Ooof, Sorry to hear that.  Hang in there.

In my multiple experiences with this a few thoughts.

Estate lawyer, they handle all the stuff you don't want to and communicate it out to the family.  You are not the bad guy, it's the law.

Don't make it about money.  Get immediate family and then maybe aunts uncles etc, to take what ever they want of sentimental value for free.  Once sentiments are sorted get rid of the rest with an estate sale service or what we did last time donated everything.   This will also produce the best stories, that are priceless.   On top of that, my BIL and I filled four dumpsters with stuff not fit for sale or donation, you may be surprised.  

Unless everyone is totally on board with any repairs and costs and YOUR time, which is not free.  Skip all of that sell everything as is.  We gave an extended family member a deal on a car, for %60 of it's value for the easy button.

Also you are executor, that does not mean you are responsible for all the work or everyone else's feelings.   Keep open communication and ask for input, especially from the quiet or easily hurt. 

One other thought.  A good friend of mine putt in all the time and effort to fix up and detail a house to sell.  All he got was a bunch of grief from other family members for taking the time and money to do it.   Thankless, not to mention gut wrenching work.

After all of my estate clearing work, I got a trust that spells out everything.  A trust is binding, wills are merely suggestions and have potential for debate.  Get a trust all.

I helped Dad when he was the executor of his cousin's estate, and I watched him struggle with the decisions that his brother in law made while he handled my grandparent's estate.  Your state's laws may be different from Florida though, so take this with a grain.

Document everything you do, the time it takes you, and every dollar you spend.  In Florida the law states that the executor is paid some percentage of the estate and costs are reimbursable outside of the settlementof the estate, its a non negotiable thing.  What they do afterwards with those fees is up to them, and you can have that discussion with your siblings but this will wear you out and test you at times so I kind of get the point as weird or morbid as it seems.

I guess the main take away from this is that you want to document in case you need to justify anything or in case it turns ugly.  In both cases I saw that happen, once with family and once due to the court's asinine decisions and a crooked lawyer that had nothing to do with the family. 

You are unlikely to get enough value out of major home  renovations to pay for the construction.  Clean it out, wash it, neutral paint where it's needed, fix what's obviously broken and list it.  

The stuff in the house, if it's like most seniors homes, has next to no value, other than sentimental.  Offer all to family, sell the new microwave, trash the 26 inch Zenith, send the rest to charity.  Rent a dumpster...

First, though, sit down with all the people listed in the will, and establish ground rules, whatever they may be.  There is potential for hard feelings here.

I'm sorry for your loss. Your plan, and all the follow up advice, seem measured and reasonable.  I don't have anything to add but I did want to offer my condolences.

With the market zooming for real estate. You won't get the pay back out of the improvements.  Whatever you list it for,  it'll go and you won't be out the contractor money. 

In reply to Fueled by Caffeine :

Agreed. Empty it out and sell as-is. Let the next owner do whatever upgrades they want as well as sorting out contractors (as well as any permit inspections that might be required) in the current remodeling market - which is also insane right now.  

When my mother executed the sale of her sister's house she hired an estate/auction company to handle the clean-out of the house after letting my two cousins get out whatever they wanted. The actual money made wasn't much after all was said and done, but at least someone else had to deal with the 30 yard dumpster of trash bags. 

My wife and her sister handled their parents estate.   Sister was paid for her time, she calls that leftover cash, and is planning a family vacation partially paid for with those funds.  She just doesn't feel right taking it even though she earned it and deserves it.  I agree with all the above comments.

I am so sorry for your loss.

As executor, you make the calls. Don't be a tyrant, but don't allow quibbles over everyone's favorite toilet seat either.

If your Dad gave you specific instructions (I did to mine, I was pretty specific) then follow them exactly. If not, execute as you see fit. Depending on the people involved (which include you) it may be best to get it over with quickly or to let it slowly get along.

It can go very well and be a time of healing. It's up to you to make that possible. While you mourn. It's not easy.

Keep in touch.

We sold my dads house for $350,000.  If we put in another $100,000 we'd be lucky to sell it for $450,000.  

I agree to clean it out and sell it.  Move on and find a good lawyer.  

Sorry to hear about your dad. I feel for you as the executor. I'll second the thought of getting an estate lawyer to make sure everything is done correctly. Also there might be tax considerations.

My condolences as well.  Losing parents sucks, it's a club that hates welcoming new members.

As to the estate.  Set expectations early and remind everyone to be good people and that family is more important than stuff/money.    If seen people get ugly over a few thousand dollars.  One uncle tried to steal money out from under my sister and I and did his level best to divide his siblings against us.  (When he'd already gotten a share).  
 

Good thing you are sole executor, that makes things easier.  My FIL named co-executors...but they were cousins who lived in different states and EVERY DAMNED PIECE OF PAPER had to be notarized and fedexed back and forth.  It was an absurd nightmare that dragged on for over a year.  Simple is better.

I just officially am closing my mom's estate this next week so I'm at the end of the tunnel. 

I would strongly recommend having an estate attorney. There are so many little gotchas that I would have had no clue on how to get done that I found it was the best 5K I've ever spent. It allowed me to get the paperwork and processes done within the minimum of time. 

Another thing I'd recommend is to not sweat the little things. Unless your family has a huge amount of collectables, the amount of the goods in the house will be less than you would expect. The big items like the furniture are really pennies on the dollar in the estate world. It's the house, cars, jewelry, and investments that are the high dollar stuff. 

For the house, Unless someone wants it sell it as is. There will be plenty of flippers out there that will bit on it and usually pretty quickly. I bought out my sister on that as an investment property. I had an appraiser come in and paid her half of the appraised value minus the 6% realtor fees. 

Also, Your time is money. I charged the estate $25/hour to get all of the stuff done. I billed almost 35 hours for what was by most means a pretty simple estate.  

I am sorry to hear about your loss.  

I just went through this the past year.  A couple things I learned...

- You are not the executor until a court names you so.  If you were named in a will, you are the executor elect.  Start the legal process to be named executor.  Until you do, you have no authority.

- Some entities (financial institutions) will ask for the court documentation showing you are the executor.

- An estate is a separate legal entity.  Like a corporation.  You transfer assets into the estate (or the bank account of the estate) and pay expenses from that.

- An executor deserves to be paid.  Don't do it for free.  Max amount varies by state.

- You don't need an estate or an executor if the value of the estate is small.  In SC, it was $25,000.  This doesn't apply to you because of the real estate, but it may to others.  In my case, my parents had transferred all their titled property (house, car) before their death.  All their financial assets had Transfer on Death (TOD) authorizations, so the instant they died, the asset technically belonged to a beneficiary.  There were no assets still owned by them, so we never had to form a legal entity of an estate.  This was easy, but created some confusion for some financial assets.  Several insurance policies made us jump through a lot of hoops to get the job done without the existence of an estate.

- If you had a power of attorney, it is now null and void.  PoA is for people who are alive.  Executor handles things after people pass away.

- There is significant legal liability for an executor who does not handle things properly.

Regarding personal possessions...

- Make sure anything Mom and Dad wanted to go to someone does.  If they left a letter saying "I want Mary to have my watch", take care of these things first.  Then start dividing up other stuff.

- I agree with something previously stated... Don't make it about money.  Let people choose the things they value.

- I wouldn't vote.  That's a mess.  You are the executor.  Lead.

- Here's what we did... I have only 1 brother.  He and I took turns choosing things we wanted.  I went first (I'm oldest.  That's what Mom asked for).  There was only 1 thing I wanted, but I knew he wanted it also.  My first choice- I gave it to him.  Set a good precedent.  He and I worked well together.  He was very close to her, and there was a lot he wanted.  That was fine with me- I let him take what he wanted.  It took about 2 weeks for the 2 of us to go through everything.  After that, we opened it up to the rest of the family, starting with the people closest.  We didn't take turns any more... everyone knew we were not fighting about money, we were simply keeping mementos.  Once the family was done, everything remaining went to Goodwill.  It was simple to just consider it a tax deduction.

As a contractor...

- Don't do ANY work.  None.  Sell it as-is.  You will NEVER get your money back, but worse you will have to manage a construction project while you are grieving.  Your family will disagree with you about which improvements to make, and at that point, you will be spending their money, so they have a right to get pissed.  The ONLY reason to do improvements is to maximize the sales price (which would mean you are making it about money).  Now is NOT the time for that.  We are in the biggest real estate boom ever.  You won't have trouble selling.

In reply to RevRico :

Integrity Plus Realty, ask for Pam, tell her Rico and Dana sent you.  They're based in Greensburg, but she had us out your way looking at houses when we were searching, so she might handle things there, but that might have just been a favor. 

Obviously when the time comes it's all up to you, but Pam has been really good with us even selling the tear down that was my mom's place.

With regards to house repairs, or other possessions, I'd suggest doing whatever gets you through this difficult chapter the fastest. Nobody wants to spend months managing a renovation for a house or selling it's contents piecemeal to (potentially) squeak out a handful more dollars.

STM317 said:

With regards to house repairs, or other possessions, I'd suggest doing whatever gets you through this difficult chapter the fastest. Nobody wants to spend months managing a renovation for a house or selling it's contents piecemeal to (potentially) squeak out a handful more dollars.

That's so true. 
 

When we sold my Dad's house, we sold at a loss. It was just bad timing in the market. But we sold quickly, which meant a LOT. 

It wasn't really a loss. It was less than he had paid for it, but we didn't pay that. Our inheritance was in keeping with the market conditions at the time. 
 

It was SO WORTH moving it quickly for less family stress. 
 

No regrets. 

I'm sorry for your loss. 

I'm doing the legwork for my wife's executor role in her mother's estate and can't provide anything more than has been said here, but will amplify:

• Lead the process, tenderly
•  Avoid voting and nickel & diming, settle things tenderly. My wife's family has been really good at this.
• There's lots of sentimental value to be respected in things, but probably not much financial value that's worth the time over a managed estate sale. Especially one that will clean up everything not sold.
• The house is what it is and the market is good, minimize work
• Legal help is worth paying for, and should be out of the estate

Sorry about your loss.

My grandparents' estate caused division between my dad and us two kids, largely because of how my dad handled things as executor.

Take what steps you can to protect your relationship with your family. Don't cave to bullying, but don't be selfish or a tyrant. I would try to hand off as much as possible to neutral third parties to minimize how much anyone in the family can blame anyone else (especially you).

Sorry for your loss, my condolences. 

Sorry for your loss!  I lost my last parent (mom) in 2019.  The estate was in Colorado. I'm in North Carolina.  Spent 2 years of vacation time working on it.  Nobody would do estate sales when Covid hit.

Get an appraisal on the property!  You will need to have documented evidence of the value of the estate.  Real Estate is easy to get a value.  You can ballpark furnishings, etc.

Open up a checking account for estate related expenses.  Makes it easier to track.  I have no siblings so there was no conflict.  I have seen sibling conflict require lawyers which took all the money from the estate.  If there is conflict with your siblings, remember You are the legal executor.  Don't be afraid to make the tough decisions.  Sounds like your have siblings that are reasonable.