Inheritance Question

[Anonymous]

My husband has a very small family. One sister, parents. His father just died leaving a marital deduction trust, or bypass trust, and a family trust with percentages created for both children and four grandchildren.

My husband’s sister is mostly talking with the attorney named as executor of the Will. She keeps telling us that no one gets money until their mother dies. I told her that was inaccurate and that the family trusts will be funded with the assets that didn’t go into the marital trust and should be available once funded. Am I wrong?

[Anonymous]

Maybe let your husband handle it.

[Anonymous]

Good grief. Stay out of it. Let DH handle.

[Anonymous]

Wow, wait till mom dies.

[Anonymous]

OP you are a greedy SOB.

[Anonymous]

Omfg. This is not your business. You are the in-law. MYOB.

Your husband likely has the right to request copies of the estate paperwork. He could then get them evaluated by an attorney.

No one on dcurbanmom can answer your question because we haven’t seen the estate paperwork.

But it’s very typical for everything to go to the spouse first and then be divided among the next generation when both spouses are dead.

[Anonymous]

DH’s father just died and you are in a hurry to grab money. You know how badly you sound?

[Anonymous]

Anonymous wrote:DH’s father just died and you are in a hurry to grab money. You know how badly you sound?

Not just literally died but you don’t know anything do you. I wanted to clarify what I told him was accurate. Just a simple question and not one answer from anyone who knows what they are talking about.

[Anonymous]

It would be highly unusual for the funds not to go to the spouse first.

[Anonymous]

Anonymous wrote:It would be highly unusual for the funds not to go to the spouse first.

This.

[Anonymous]

You had literally nothing to do with that money. Not sure why you feel compelled to jump in here. It is NOT your money.

[Anonymous]

Yes, you are wrong.
On so many levels.

[Anonymous]

I think people are being unfair to OP. I think it is reasonable to try to understand how the trusts work. If my husband’s parents had a trust, I might be the one explaining it to him. It doesn’t mean I am in a hurry to get his parent’s money. Of course, it depends on the family dynamic, but why assume the worst.

[Anonymous]

Maybe have your husband actually review the trust documents and have a group call with the lawyer. That way you don’t need to speculate and can get actual answers. Allow your husband to handle this, this is literally none of your business. And don’t go looking for problems when there may not be any.

Oh and while you’re advising your husband, let him know he should keep any money he inherits in a separate account in his name only.

[Anonymous]

My parents have a trust in which my sister and I immediately get money after the first parent dies. It’s a sizable estate with plenty left over for the remaining parent to live on. They have a good trust attorney who set it up.