It also has alot to do with who is in charge of having the will probated. Executrix (sp) ??
I know in Texas anyone can be named Executrix and if they don't want to do it, then the paper the will is written on is worthless, and nothin in the will is put into effect.
Mr Lilly had a great aunt and uncle.....the uncle was his grandads brother. They had no children. He had alot of land, and quiet a bit of money, in his will it was all to be divided among his neices and nephews upon her death. She was to live off the interest until that time. She was the executrix and never had the will probated. In the end, when she died, none of the land or money was given to the nieces and nephews, but was given to a neice on her side of the family.
The only way to avoid that kind situation is to not let anyone in the family be executrix. Let the attorney do it. Then at the time of death, he's bound by law to probate it.
We are in a situation that's all set up. Mr Lilly has one brother, who's not interested in ranching at all. They've already surveyed the land and they both know which piece is theres. We don't run any cows on his side. If we never start then we won't hafta worry about cuttin back the herd when we take actual posession of the property. Helps too that there's a highway runnin right down the middle....ours on one side, his on the other side. Will also states that if his brother doesn't want his piece of land and wants to sell, it must be offered to Mr Lilly for whatever the value is stated per acre on the tax roll. Not what outrageous prices the land is goin for around here. upwards of 6000 to 10000 an acre, and it's valued on the tax rolls at 1200 an acre. Not that we'd be able to come up with that even, but that's how they did it. Suits them both fine.