QUESTION
Hi. Parents passed away last year in NJ. I got admin fee for estate for 2011. House will be sold in 2012. I am caretaker. Can I get any fee for it
Asked on Aug 07th, 2012 on Estate Litigation - New Jersey
More details to this question:
Basically, I was told house and other parts of estate had to all be sold at the same time. Father died 10/10 and Mother died 4/11. Neither had a will, so I was appointed admin of estate. Settled all cash and stock accounts at the end of 2011, paid taxes on the estate, and took admin fee for my duties. Their house was not ready to be sold, which I currently still live in. I am taking care of house, paying bills with an established estate account, and living there.
When the house sells, can I take any kind of fee for all of my time and trouble taking care of this, cleaning out and getting house and property ready for sale, etc, for myself and two sisters I have? I was told I had to sell the house with other possessions by the end of 2011, and that if I sold the house next year (2012), I could not get anything for my trouble, since it will be sold separately. Is this true? No one seems to know clearly.
Thank You very much for your time.
Anthony.
1 ANSWER
2 Awards
You could take a fee for taking care of the house, but you are not paying rent, correct? The house is now owned by the estate and you are technically "using" the house by occupying the house. You don't have to sell the house, but you can take it out of the estate and put it into the names of you and your two sisters, and either rent it out or continue to occupy it. It is not as if you are getting something separately for the house, but the house is an estate asset and the fee you ge as an administrator is based on the total value of the estate including the house. If you still have questions, call my office and I will help if I can.
Answered on Aug 08th, 2012 at 11:21 AM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship