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Common mistakes families make with an inherited house

Short answer: Common mistakes include leaving the house empty without telling the insurance company, missing property taxes, acting before having legal authority, clearing the house without an inventory, mixing personal and estate money, accepting the first offer without comparing, and skipping records. Most can be avoided with early questions to the family's attorney.

1. Leaving a vacant house without telling the insurer

Coverage may change when a house is empty. Ask the insurance company what is required.

2. Missing property taxes

Taxes keep coming. Ask the tax office about balances and due dates.

3. Acting before having legal authority

Selling or giving things away before an executor is appointed can cause problems. Ask the attorney first.

4. Clearing the house without an inventory

Take dated photos and keep a list before anything leaves the home. Disagreements about belongings are common.

5. Mixing personal and estate money

Keep records and ask the attorney how estate accounts should be handled.

6. Accepting the first offer without comparing

Compare options and ask more than one professional. Be cautious of anyone who pressures you.

7. Not communicating with family

Regular, kind updates in writing prevent many disputes.

8. Skipping records

Keep every receipt, email and note. It protects the executor.

This page is general, educational information. It is not legal, tax, or financial advice. Talk to your own attorney, CPA, or broker about your situation.

Try this week

1. Pick the three mistakes you see most and add them to your intake handout.
2. Add one sentence on what to do instead.
3. Share the list with families.

Questions people ask

Which mistake is most common?

In my experience, acting before knowing who has authority, and missing the property taxes. Your attorney may have a different view.

Is this a complete list?

No.

Who can help?

The family's probate attorney.

This page is general, educational information. It is not legal, tax, or financial advice. Talk to your own attorney, CPA, or broker about your situation. I'm a GGMS customer, and I receive a discount from GGMS.