Putting emotion aside, if the deed is in the parents name, inheritance may not be the main issue when selling the real estate.
Selling the property as a married couple will avoid some taxes. If single and have lived in a house for two of the previous five years, you owe no taxes if you make $250,000 or less in profit. For married couples filing jointly, if both of you have lived in the house for two of the previous five years, then the limit is $500,000 in profit; note profit, not sell price.
Gift tax (while living): If the parents sell the property, they, presently, can each give $15,000 annually ($30,000). Amount will probably, periodically, go up as it has been doing. The gift tax is not considered income, to the recipient. No tax to the parents for that amount.
I do not believe NH has an inheritance tax.
Estate tax may not be a factor. An estate tax is a tax on the right to transfer property when you die. The IRS exempts estates of less than $11.4 million from the tax in 2019 and $11.58 million in 2020, so few people actually end up paying it. Plus, that exemption is per person, so a married couple could double it.
A trust could be set up to avoid probate for the disposition of the asset.
If the house is "willed" to all three, especially with a trust, joint ownership of the house may be an option. Any future disposition of the house would be up to the three siblings, presuming they are still all living. Maybe the siblings can accommodate a downsizing, in conjunction with the trust.
These are just some issues that quickly come to mind, and the suggestions to seek professional advice are good suggestions.
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