Dayhoff Westminster Soundtrack: Mom's House, Your Responsibility by Mara Lee, Special to The Washington Post

Friday, July 25, 2008

Mom's House, Your Responsibility by Mara Lee, Special to The Washington Post

Mom's House, Your Responsibility by Mara Lee, Special to The Washington Post
Special to The Washington Post, Saturday, July 19, 2008
http://www.washingtonpost.com/wp-dyn/content/article/2008/07/18/AR2008071801413.html

Labels:
Business and Economics
Business and Economics Wills and Estates
Real Estate
Real Estate property management
Children Parenting and Intergenerational studies

With the experience of 25 years in the property maintenance business, I thought the article that follows – and the companion piece, “Parents Can Help Ease the Burden,” by Mara Lee, was an excellent introduction to a difficult subject…

Managing the home after a parent dies can be fraught with difficulties. Here's a guide to bringing about a successful sale.

By Mara Lee, Special to The Washington Post, Saturday, July 19, 2008; F01

Carylin Waterval's mother had no will -- and no time to prepare one.

At 63, she was diagnosed with lung cancer and died within three weeks, leaving behind a small business and a four-bedroom house in Ashburn. Waterval, who lives in Alexandria and whose brother lives in Texas, found herself in charge of all the financial paperwork -- bank accounts, stock holdings, tax records and unpaid bills. Even though Waterval, 42, is an accountant, she found the volume overwhelming.

Selling a house after a parent's death can be a lengthy and daunting undertaking. Household bills still have to be paid. Then there's the matter of deciding who wants what, how to ship it to them and how to dispose of the rest. There's finding a real estate agent, deciding how to present the house and arriving at a price. And all this work may have to be done from out of town.

Until you sell the house, you have to manage it.

Read the rest here: Mom's House, Your Responsibility