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Dear Moneyist,<\/strong> <\/p>\n I am one of three children, and we are all 60-plus years old. A vacation property that belonged to my parents is now in my mother\u2019s name and my late father\u2019s three children\u2019s names. My sister scoffs at me when I suggest selling our family vacation property. She, her husband and kids go there all the time, and have taken over the place like they own it. They had it logged \u2014 without even mentioning it to me or my brother \u2014 and have paid the taxes and utilities for five years.<\/p>\n Also see: <\/strong> \u2018My husband\u2019s kids hate me and refused to come to our wedding, yet he is leaving them all his property.\u2019 How can I negotiate to secure my future?<\/a> <\/p>\n I used the place for over 30 years, but now that I am divorced I no longer have any interest in it, nor do my kids. I have discussed with my sister about her buying me and my brother out, but she refuses, saying they can\u2019t afford to do that. Frankly, I could use the money. My mother can\u2019t understand why I don\u2019t love the place, but I don\u2019t feel any attachment to it now that my father is gone. Do I cause a rift in the family by insisting on my share, or are my brother and I entitled to anything? <\/p>\n Ready to Move On<\/p>\n Dear Ready,<\/strong> <\/p>\n How much do you need the money?<\/p>\n A word of caution: If you force your sister to sell it or convince her to buy you out, you may cause a family schism that could last for decades, generations, millennia. This isn\u2019t just a piece of property to your sister. This is part of your family\u2019s legacy that presumably has a lot of happy memories \u2014 she is creating her own, and probably wants to pass those down to her children. It\u2019s not a simple financial transaction. Before you act, make sure it\u2019s worth it.<\/p>\n Also see:<\/strong> As a baby boomer, I didn\u2019t grow up with this culture of entitlement \u2014 do I have to leave my estate to my children or spouse?<\/a> <\/p>\n If all your names are on the deed as joint tenants in common, you may have a good chance at selling the home whether or not your sister wants to, and\/or forcing her hand so she buys you out. (I\u2019m curious to know how much it costs to log\/renovate a vacation home. I see one estimate<\/a> that puts the price tag at anything from $15,000 to $100,000.) If by logging, you mean allowing a third party to cut down trees on the property, that should <\/em>have been discussed.<\/p>\n Recommended: <\/strong> \u2018What did he do with all the money?\u2019 My dying husband cashed his $700K life insurance and emptied his bank accounts<\/a> <\/p>\n Sit down with your sister and run through the finances. There\u2019s a big difference between \u201ccan\u2019t pay\u201d and \u201cwon\u2019t pay.\u201d<\/p>\n Do you have questions about inheritance, tipping, weddings, family feuds, friends or any tricky issues relating to manners and money? Send them to MarketWatch\u2019s Moneyist<\/a> and please include the state where you live (no full names will be used).<\/em> <\/p>\n Would you like to sign up to an email alert when a new Moneyist column has been published? If so, click on this link.<\/a><\/em> <\/p>\n<\/p><\/div>\n [ad_2]
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