Wht to do if someone leaves a homestead to 1 daughter and then states remaining residue of property to be divided by the remaining 2 daughters?
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Wht to do if someone leaves a homestead to 1 daughter and then states remaining residue of property to be divided by the remaining 2 daughters?
Does the profit earned on selling the home become a “residue of the property”? Or does the daughter to whom the homestead was willed to become solely the one that inherits the money made?
Asked on August 29, 2012 under Estate Planning, Minnesota
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 12 years ago | Contributor
Unless there are some unusual circumstances that you have not included in your question, the homestead would go to the 1 daughter. It would ordinarily be deeded to her and she would then sell it and keep all of the profits. Those profits would not be divided by the remaining 2 daughters. The remaining 2 daughters would receive the other assets of the estate.
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