I have been distributing assets to the heirs. The family cabin is a trust asset that I don't want but sibs had refused to discuss - insist it is an unrealized asset and if I don't want it then I am to walk away. I have not distributed some bonds that earn interest and don't mature until 2016 as they are the approximate value of my share of the cabin. I hope for an amicable resolution so that the family stays intact but am concerned. Can I do that? Can they sue me and is this something for the court anyway? I'm in Minnesota

Sounds like a very real appearance of you placing your personal interests ahead of the other heirs interests. And that is something you have to avoid or it can result in a lawsuit.

I assume you are a member of the family the other heirs are also part of. I would think if its an asset wanted by no one... it gets sold and the proceeded divided according to the terms of the will.

The appearance of you taking first dibs on what you want and pawning the remants off on the others is sure to cause problems... legal and otherwise.

Its not always just about what you are actually doing as much as what it appears you are doing that can get you in trouble.

Personally, and this is NOT legal advice.

Assuming your father didn't target certain assets to certain individuals. I would assess a value to each using fair market value on non financiall instruments. Make a list, let the all the heirs choose what they like the best to the least in order. You will know what a fair share is to each. Hopefully most of the assests can get to the people that appreciate them the most, the assets nobody wants can be sold and tha funds dispersed according to what sums will even out each heirs total share value.

Now if multiple people vie for the same asset, the trick is fining a fair, objective way to pick one that can't possibly be considered either playing favorites.. or less than completely random.

Odds are you will get some hard feelings but everyone can't have everything they want when there are not enough for everyone. But it IS important everyone receives a fair share in actual value.

And like I mentioned... you have to be extra careful you don't even appear to place your own interests ahead of anyone else's. Something that's difficult when you are one of the heirs yourself.

Personally, assuming they are all adults, complete and equitible dispursement at today's value is the only way to be fair. You can't plan on what might be down the road. And you really don't need or want to have this hovering over your head any longer than is needed.

Now if Minors are involved... the same rules apply only the assets will be placed in a trust for them until they reach the age of majority or whatever age your father may have wished. Not such a good idea for real estate that needs deeded and carries upkeep, taxes and maintenance.

That's just my own opinion so hopefully others will weigh in and offer ideas of what they would do, hopefully someone who actually had to do this in the past.

Thanks. Trying to be fair, do what dad wanted & protect sibs-but lots of emotions in play by all. Guess I need ducks in a row & get them to discuss issue w/out emotional baggage/anger/childhood issues etc.

Yes... you need to get them all together and discuss this like rational adults. And don't assume any of them will see it from a neutral aspect, you have to assume that role and explain to them what you are doing and why you want to do it that way.

You might not make everyone happy, but at least they will see you are trying to be fair to everyone equally.