Fued over money

[Anonymous]

Amazing - so many armchair lawyers even though none of you have seen the will or the transfer on death/designated beneficiaries forms on the investment account or even know what state the OP lives in.

OP - the one thing everyone can agree on is that the executor screwed up royally. How does one overlook a $50k asset?

[Anonymous]

The money is your dads. Is it worth a permanent breach with his relatives?

[Anonymous]

Anonymous wrote:

Anonymous wrote:+1
since inheritance happens at death, and aunt was alive then, clearly ½ the money should go to aunt's estate ie your cousins

This. The stock should have been liquidated after grandfather's death but mistakenly wasn't. Aunt was alive at time of grandfather's death. So for purposes of deciding inheritance of the stock account, you go with who was alive at time of GRANDFATHERS death. So aunt still counts. Aunt gets half. Since aunt is NOW dead, AFTER grandfather died, then her share could either go to her husband or her children depending on aunt's will or restate laws in her state.

This is pretty clear cut and standand trust and estate query, this happens a lot. If cousins' father or if cousins themselves contest this, they will win. NOT OP's father.

This is my thought too. You said all assets were split upon his death in the terms of the will. This was an asset that was mistakenly left out so it should be divided as it would have been at the time of death had the executor not screwed up.

I understand your father's point but it is not his place to even the playing field. His parents could have done that in their wills (by leaving him more to offset their gifts to the daughter) but opted not to. He should not take his parents' perceived unfairness out on his siblings children.

[Anonymous]

Anonymous wrote:Amazing - so many armchair lawyers even though none of you have seen the will or the transfer on death/designated beneficiaries forms on the investment account or even know what state the OP lives in.

OP - the one thing everyone can agree on is that the executor screwed up royally. How does one overlook a $50k asset?

We are not armchair lawyers, we are answering the question from the set of facts given. Isn't that the point of OP starting a thread? What's the point otherwise?

[Anonymous]

Anonymous wrote:While I think your Grandfather was clear in his wishes (assets split between children) there is also the honorable thing to do which is to treat this "found" money like his father wished.

Your father is dishonorable, greedy and very petty. I would be very careful of him. You never know when he may turn on you.

Okay, that's a dramatic stretch. Dial it down a notch.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think your father is being very childish and unfair. Half the money should go to your cousins.

+1

+2

But, stay out of it. Carry on with your extended family.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:+1
since inheritance happens at death, and aunt was alive then, clearly ½ the money should go to aunt's estate ie your cousins

This. The stock should have been liquidated after grandfather's death but mistakenly wasn't. Aunt was alive at time of grandfather's death. So for purposes of deciding inheritance of the stock account, you go with who was alive at time of GRANDFATHERS death. So aunt still counts. Aunt gets half. Since aunt is NOW dead, AFTER grandfather died, then her share could either go to her husband or her children depending on aunt's will or restate laws in her state.

This is pretty clear cut and standand trust and estate query, this happens a lot. If cousins' father or if cousins themselves contest this, they will win. NOT OP's father.

This is my thought too. You said all assets were split upon his death in the terms of the will. This was an asset that was mistakenly left out so it should be divided as it would have been at the time of death had the executor not screwed up.

I understand your father's point but it is not his place to even the playing field. His parents could have done that in their wills (by leaving him more to offset their gifts to the daughter) but opted not to. He should not take his parents' perceived unfairness out on his siblings children.

Agree with all of the above. Op, your dad is wrong.

[Anonymous]

Anonymous wrote:You say you see both sides, so I assume both sides are reasonable. Therefore it is the failings of the individuals. Stay out of it. Hope that life is long. Long enough for these people to make peace at some future time.

This. But as the hard working kind of person I could never in a million years keep the other 25K and not give it to my nieces and nephews, that doesn't have anything to do with it IMO.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Amazing - so many armchair lawyers even though none of you have seen the will or the transfer on death/designated beneficiaries forms on the investment account or even know what state the OP lives in.

OP - the one thing everyone can agree on is that the executor screwed up royally. How does one overlook a $50k asset?

We are not armchair lawyers, we are answering the question from the set of facts given. Isn't that the point of OP starting a thread? What's the point otherwise?

UM, this is DCUM. Most are actual attorneys or at the very least, have been through this and managed to learn the pertaining laws (not that hard, sorry, you don't need a JD to know these answers!)

[Anonymous]

Anonymous wrote:I don't think your father *has* to split the money, but it sort of violates the spirit of your Granfather's wishes. We ran into a similar situation with my FIL. He lived with, but never married, a woman for 20 years after my husband's mother passed. To us in all intents and purposes she was his wife. He adjusted his will after conferring with his 2 children, so that she was given all his retirement and other assets. A year after he passed another, apparently forgotten, stock account was found for about 100K (how you forget that I don't know, but it was and was not included in the will). My husband gave his half to my (what we consider) MIL. His sister balked initially although she eventually came around. The spirit of my FIL wishes was that MIL get everything to make sure she was taken care of. She worked all her life as a secretary so has some cash of her own and a pension (not a ton), and their condo is paid for. She has no children, is in her 80s and to be honest we'll get whatever is left anyway, but the point was he wanted her to have it and we wanted to honor that.

'
You guys are good people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Amazing - so many armchair lawyers even though none of you have seen the will or the transfer on death/designated beneficiaries forms on the investment account or even know what state the OP lives in.

OP - the one thing everyone can agree on is that the executor screwed up royally. How does one overlook a $50k asset?

We are not armchair lawyers, we are answering the question from the set of facts given. Isn't that the point of OP starting a thread? What's the point otherwise?

UM, this is DCUM. Most are actual attorneys or at the very least, have been through this and managed to learn the pertaining laws (not that hard, sorry, you don't need a JD to know these answers!)

Then please post a link where the Grandpa's will and investment account paperwork is posted, because the answer really does depend on what those documents say.

My dad's will specifically said that if any of his kids predeceased him, their portion did NOT go to the heir's surviving spouse or children; it was divided between the other siblings. He provided for his grandkids separately. So anything could be in that paperwork.

[Anonymous]

OP here... my uncle consulted a lawyer and legally the money is my father's. I don't know exactly what the will said, but it had something to do with this account and the way it was set up. The original money was a gift to my grandfather from another family member and I guess my grandfather forgot about it and left the money there to grow for like 60 years.

So the issue here is a moral one, not a legal one.

I should add there is more behind him keeping the money - but I don't think this necessarily makes it right. My grandmother had a couple nice pieces of jewelry as well as one very expensive piece of artwork. After she passed away, my aunt claimed all the jewelry for herself, along with the painting. My grandfather willingly gave it all to her, but my dad was pissed because they all had a significant value and he just thought it was unfair since he would have loved to give some of it to my sisters and I. My aunt left the jewelry to my cousins, and the painting is hanging in my uncle and aunt's house. So my dad sees this as his half of those items.

I really want to stay out of this but my cousins and uncle keep trying to drag me in to get to my dad. I know he will not change his mind.

[Anonymous]

Your dad is a petty petty man.

[Anonymous]

Anonymous wrote:OP here... my uncle consulted a lawyer and legally the money is my father's. I don't know exactly what the will said, but it had something to do with this account and the way it was set up. The original money was a gift to my grandfather from another family member and I guess my grandfather forgot about it and left the money there to grow for like 60 years.

So the issue here is a moral one, not a legal one.

I should add there is more behind him keeping the money - but I don't think this necessarily makes it right. My grandmother had a couple nice pieces of jewelry as well as one very expensive piece of artwork. After she passed away, my aunt claimed all the jewelry for herself, along with the painting. My grandfather willingly gave it all to her, but my dad was pissed because they all had a significant value and he just thought it was unfair since he would have loved to give some of it to my sisters and I. My aunt left the jewelry to my cousins, and the painting is hanging in my uncle and aunt's house. So my dad sees this as his half of those items.

I really want to stay out of this but my cousins and uncle keep trying to drag me in to get to my dad. I know he will not change his mind.

He's being petty, but I totally get it, as the less favored child in my family. Hell, I would probably do the same thing because a lifetime of being shafted while my sister was spoiled by my parents has driven me to that.

[Anonymous]

Also, petty, but he could say - split the jewelry and the painting and i'll give you the 25k. See what uncle has to say about that.