We inherited a house from my mother-in-law in June of 2002 but have done nothing as far as changing the title. What should we do? Is it a problem?

Is it going to cause problems because we waited to do this. We didn't think we had to do anything and now I guess we do. There was a will notarized leaving the house to my husband and me. His half sister got 1000. dollars. They told us to do with the other stuff as we thought we should. The estate falls into the not more than 150,000 dollar category we think. How do they compute the value of the estate, by what it is worth today or what it was worth when she passed? That could be very important? Thank youl