My question involves estate proceedings in the state of: VA
My mother passed away intestate with a small estate. Divorced, raised 6 children by herself and leaving behind the house (Worth $300k) with a mortgage loan of (45k) and possibly unpaid taxes (that could be about 10k). All she ever wanted was everything to be split 6 ways, evenly and fairly amongst her children. I am the Administrator of the Estate (qualified from the court) and also one of her 6 children.
Hereís the issue. My mother also had an IRA (85k) with enough money to cover the mortgage debt, tax debt, and other small debts, but my sister is listed as the beneficiary and so this IRA doesnít have to go through Probate.
Hereís my concern. My sister has already decided to take out $36k from the IRA to give each of the kids $5k and give $3k to the Estate. I feel as though I have no authority over this money that needs to go to priority expenses. Iím told that the IRA and the Estate are totally separate. And if thatís the case, then I would have to sell the house which would lead to petitioning the court because half the kids want to keep it.
I canít get through to my brothers and sisters that thereís a legal process which I have to follow. That if I donít, Iím held responsible. Iím told I need to relax and stop making things so difficult and complicating.
Does this happen?