I am the executor for my mother's estate. Four children will inherit the estate. The estate includes some land that will be deeded to one of the children. The other children will receive additional cash instead of partial ownership of the land. I have determined the market value of the land at time of death. Do I factor in the cost of selling the land (realator fees) when I establish the value of the inheritance?

If one sibling will get the property, then there is no sale. If you were selling the property then the fees would be paid from the proceeds of the estate.

If the cash assets of the estate are great than 3x the value of the property, then you have no problems. Just add the value of the property to the case assets and distribute them evenly. However, if the cash assets are less than 3x the value of the property that means that the sibling getting the property gets a disproportionate share of the estate. This can cause some issues. It may involve the sibling getting the property to kick in cash to make up the difference.

Brokers and agent fees are not part of the market value of a home, it is merely a selling ( or buying) expense.

Thank you
This is helpful