Sorry for your loss, googily.
If you decide to take the house, make sure you get a date of death appraisal to establish a new cost basis for the house. You will also need to do this as part of your estate tax filing.
Also, even if your deceased parent's estate is less than the estate tax exemption amount ($5.25 million), you should still file a form 706 to claim the unused portion of the tax exemption amount (for portability), which could then be used by the estate of your father upon his passing.
Hope everything works out for you.
luckydude
If you decide to take the house, make sure you get a date of death appraisal to establish a new cost basis for the house. You will also need to do this as part of your estate tax filing.
Also, even if your deceased parent's estate is less than the estate tax exemption amount ($5.25 million), you should still file a form 706 to claim the unused portion of the tax exemption amount (for portability), which could then be used by the estate of your father upon his passing.
Hope everything works out for you.
luckydude