Have you recently inherited property in Allentown, Bethlehem, Easton, or the surrounding Lehigh Valley area? Unfortunately, many families find themselves in a challenging situation when a loved one passes away without a clear plan for their estate. If you and your siblings are left to handle an inherited property without guidance, the process can quickly become overwhelming, especially during such an emotional time. Not only are you faced with legal and financial complexities, but the emotional weight of family memories tied to the property can make things even more difficult.
Perhaps you have cherished memories of family gatherings at a beloved home, but as an heir, the financial and practical responsibilities that come with the property can feel like a heavy burden. Even for siblings who are on the same page emotionally, the process of settling an estate can be lengthy and expensive, particularly if probate court is involved. The good news is that there are steps you can take to ease the burden. Below, we’ve outlined five helpful tips for siblings dealing with an inherited property in Lehigh Valley, PA.
1. Appoint One Person to Lead
If your parent didn’t assign a clear executor or trustee, it’s a good idea to designate one sibling to take charge of the process. This person can act as the central point of contact and ensure all tasks are completed in a timely manner. Keeping a single checklist for managing the property will help streamline the process. Responsibilities, such as paying property taxes, scheduling maintenance, or handling paperwork, can be divided among the siblings, but having one leader will keep everything organized. In some cases, hiring a property manager may be the best option, with siblings sharing the costs.
2. Stay Civil and Communicate
It’s a difficult truth that nearly 70% of Americans pass away without a will, leaving heirs to navigate their estate without clear instructions. One of the most critical tips for siblings dealing with inherited property in Lehigh Valley, PA is to communicate openly and calmly. If you find it difficult to have constructive conversations, consider bringing in an impartial mediator. Addressing potential conflicts early on will help prevent issues from escalating. Setting ground rules and working out key details from the start can help preserve family relationships, which is ultimately the most important goal.
3. Understand Motivations
Siblings may have different motivations or financial situations, which can affect how they view the inheritance. Some parents choose to divide their estate evenly, while others may tailor their will to each child’s specific needs or circumstances. For example, a parent might leave a larger share to one sibling who is facing financial struggles or place a portion of the inheritance in trust due to concerns about a child’s spouse. These dynamics can lead to emotional disagreements, and it’s important for siblings to understand the reasoning behind these decisions. Having open discussions about the motivations behind the estate division can help everyone align their expectations and avoid misunderstandings.
4. Be Realistic and Fair
Another key tip for siblings dealing with an inherited property in Lehigh Valley, PA is to be realistic and fair. Disagreements are almost inevitable when multiple parties are involved, but accepting this from the outset can help you navigate conflicts more effectively. Establishing a system for decision-making, such as majority rule, can be helpful when disagreements arise—whether it’s about something as simple as repainting the house or more significant issues like deciding who will live on the property. Creating clear guidelines for making major decisions will save you from future tension and ensure that the process feels fair for everyone involved.
5. Consider Selling and Splitting the Proceeds
For many families, selling the inherited property and splitting the profits is the best solution. This option can prevent conflicts if some siblings are unable or unwilling to take on the financial responsibilities of maintaining the home. Selling may also be the right choice if the property is in poor condition and would require extensive repairs, or if the home is at risk of foreclosure and needs to be sold quickly. If none of the heirs wish to keep or live in the property, a sale can provide everyone with a clean break and an equitable share of the proceeds.
Let iBuyLehigh Help You
At iBuyLehigh, we understand how complex and emotional the process of selling an inherited property can be. If you and your siblings have decided that selling is the best option, we’re here to help make it easy. We specialize in helping families in the surrounding Lehigh Valley area sell their inherited properties quickly and without hassle. Whether you need to sell fast to avoid foreclosure or simply want to move on from the responsibilities of homeownership, we offer fair cash offers and can close in a matter of days or weeks.
If you’d like to discuss your situation with a professional, we’re happy to provide guidance with no obligation. Feel free to ask us any questions or share your concerns. At iBuyLehigh, our experienced team of buyers and real estate professionals is ready to help. Contact us today at (484) 549-0019 or send us a message—we’re here to make the process as smooth as possible.