Elderly father destroying family harmony & his legacy in pursuit of inheritance

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is all very interesting, but can someone explain this to me? So, I borrow money from my mom, and invest it. A year later, she dies. I never paid her back her money. Two years later I receive the return on the investment. I then have to pay the loan back to the estate? My brother would get half the amount of the loan. Right? Why would my brother get any of the profit from the investment?

OP has doled out the information strangely and in tidbits, but the money was supposed to be an "investment loan" on the grandmother's behalf, to create an "infusion of capital" to the grandmother herself, not to a loan to benefit the uncle. So both the amount of the loan and the proceeds from the loan are the grandmother's, not the uncle's. As she has passed, they go to the heirs and assigns, meaning OP's father and uncle (and any other siblings), equally.

Has OP made it clear that the investment was on grandma’s behalf? I thought grandma’s money was considered a “loan” because uncle was borrowing to invest for himself? If the investment was on grandma’s behalf and not uncle’s, then uncle owes dad half the return. If the investment was on uncle’s behalf using grandma’s money, then uncle owes dad whatever half the loan amount is once you convert it into 2018 dollars. Say the loan was $5000 and the loan was taken out in 1982. Whatever $2500 from 1982 is worth today, that’s what uncle owes dad.

I would say he owes him half, full stop. The father didn't have the opportunity to invest that money at the time to earn more. Since he was not allowed a say in how it was invested, he gets half of it.

And OP, if your cousins would be angry at you for taking the money and seem to be as bad as their father, why do you even want to have contact with them??? That just sounds like a recipe for disfunction.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If the loan wasn’t deducted from ur uncles half then ur dad has a valid legal claim whether or not you like it. It’s not fair for your dad to get screwed twice-once when he got less because he forgave it and once again when he doesn’t get the original split of the forgiven amount OR the benefits of the investment. Say ur piece to fleas and let him do what he wants. It’s none of the grandkids-you or your cousins-business. Stay above it.

I agree. Your uncle sounds like a selfish asshole.

I would empathize with my father while I tell him to do whatever he wants and that we do not need the money. I'd remind it that he shouldn't do it for us, but himself.

But to claim that your father is the one destroying the family is a joke. You uncle is a selfish ingrate.

This whole family sounds like ruleless, lawless anarchy. They probably never pay their taxes either.

[Anonymous]

Seven pages over $15,000?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is all very interesting, but can someone explain this to me? So, I borrow money from my mom, and invest it. A year later, she dies. I never paid her back her money. Two years later I receive the return on the investment. I then have to pay the loan back to the estate? My brother would get half the amount of the loan. Right? Why would my brother get any of the profit from the investment?

OP has doled out the information strangely and in tidbits, but the money was supposed to be an "investment loan" on the grandmother's behalf, to create an "infusion of capital" to the grandmother herself, not to a loan to benefit the uncle. So both the amount of the loan and the proceeds from the loan are the grandmother's, not the uncle's. As she has passed, they go to the heirs and assigns, meaning OP's father and uncle (and any other siblings), equally.

Has OP made it clear that the investment was on grandma’s behalf? I thought grandma’s money was considered a “loan” because uncle was borrowing to invest for himself? If the investment was on grandma’s behalf and not uncle’s, then uncle owes dad half the return. If the investment was on uncle’s behalf using grandma’s money, then uncle owes dad whatever half the loan amount is once you convert it into 2018 dollars. Say the loan was $5000 and the loan was taken out in 1982. Whatever $2500 from 1982 is worth today, that’s what uncle owes dad.

Yes - top of the second page he said "My uncle invested my grandmother’s money before she died. It was meant to be a short term injection of capital that would be paid back. My father did not know about the loan until after my grandmother died."

[Anonymous]

Anonymous wrote:Seven pages over $15,000?

15k in this bull market could have tripled. 6x if put in at 2009.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is all very interesting, but can someone explain this to me? So, I borrow money from my mom, and invest it. A year later, she dies. I never paid her back her money. Two years later I receive the return on the investment. I then have to pay the loan back to the estate? My brother would get half the amount of the loan. Right? Why would my brother get any of the profit from the investment?

OP has doled out the information strangely and in tidbits, but the money was supposed to be an "investment loan" on the grandmother's behalf, to create an "infusion of capital" to the grandmother herself, not to a loan to benefit the uncle. So both the amount of the loan and the proceeds from the loan are the grandmother's, not the uncle's. As she has passed, they go to the heirs and assigns, meaning OP's father and uncle (and any other siblings), equally.

Has OP made it clear that the investment was on grandma’s behalf? I thought grandma’s money was considered a “loan” because uncle was borrowing to invest for himself? If the investment was on grandma’s behalf and not uncle’s, then uncle owes dad half the return. If the investment was on uncle’s behalf using grandma’s money, then uncle owes dad whatever half the loan amount is once you convert it into 2018 dollars. Say the loan was $5000 and the loan was taken out in 1982. Whatever $2500 from 1982 is worth today, that’s what uncle owes dad.

Yes - top of the second page he said "My uncle invested my grandmother’s money before she died. It was meant to be a short term injection of capital that would be paid back. My father did not know about the loan until after my grandmother died."

wonder what other funny business family members did not know about Uncle + Grammy's money.

[Anonymous]

We all have a generous amount of free time on our hands to follow this so closely, what?