My father is about to embark with a probate process. His wife died intestate and leaves mostly a single family residence of which 2/3 is supposed to pass to two adult children. However, he plans to buy out their portion as he would like to continue living in the house. My question: As part of the Inventory and Appraisal request to a probate referee, is it prudent to provide a third-party appraisal of the property as supporting information? Will the probate referee consider in determining his own valuation? My father wants to ensure a fair court appraisal.
Is your father doing this without a lawyer? If his wife died without a will and she owned the entire house, then the entire property will be appraised by a probate referee. The property will pass by laws of intestacy and not in a 2/3 portion to two children. Your father should seek legal counsel.
You can provide additional info directly to the referee once one is appointed.
Your father should consult with an attorney to see if he can claim a community property interest to this property. This could increase his interest in the home.
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He can get an additional appraisal but does not need to provide that to the probate referee. The probate referee is charged with appraising the property at the date of death value.
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