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My late stepfather’s 11th-hour will leaves $1 million

Discussion in 'Real Estate & Other Investments' started by Scorpio, Oct 12, 2016.



  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    My late stepfather’s 11th-hour will leaves $1 million to unknown relatives
    By Quentin Fottrell
    Published: Oct 12, 2016 6:39 a.m. ET


    All of this man’s immediate family were left out of the will

    Terrence Horan/MarketWatch


    Dear Moneyologist,

    When my stepfather died recently, as a successor trustee I discovered that he had left a list of monetary gifts to be paid immediately upon his death totaling nearly $1 million. The list is comprised entirely of his relatives from another country, most of whom he had not seen in many years.

    Additionally, there are irregularities in some of the named people on the list (one is dead, another no one ever heard of, and that’s just for starters). This leads me to believe he was not completely of sound mind at the time he wrote the list. He did not leave one penny to his wife of 60 years (my mother), aside from their family home, while he was alive. He also greatly over-estimated the value of their estate.

    When I discussed all this with our estate attorney as a viable reason to contest this portion of the trust, he said the complaint would not be considered valid and discouraged me from going forward with any court action. My gut tells me that since the gift list was written literally days before he died, and is full of questionable allotments, there is plenty of reasons for contesting it. What do you think?

    Harvey

    Dear Harvey,

    The clue is in the headline.

    Assuming that your father had not fallen out with his family (and even if there were problems), there’s definitely something fishy about writing a will days before he died, leaving $1 million to a group of relatives who are either dead or far, far away and effectively disinheriting his immediate family. What makes this all the more puzzling is the executor of your father’s estate tells you that there’s nothing going on and you should accept all of this as if you are living in an episode of “The Twilight Zone.” The executor is either incompetent or knows more than he is letting on.

    Listen to our new podcast: Money, Markets & More (or subscribe on iTunes): The latest episodes: “Airlines unveil ‘no-crying’ zones” and “Olive Garden pasta passes sell on eBay.”

    A person signing a will must be of “sound mind, memory and understanding.” In legalese: His or her mental capacity will be presumed if the testator left a will which appears to be rational and contains no irregularities. Alas, that does not appear to be the case here. There are plenty of irregularities here and none of it appears to be rational. Consult a lawyer, petition the probate court in the county where your father died to appoint an independent executor, outlining your concerns. (It’s not the first time I have advised someone do that this week.)

    Don’t sit back and see your family’s $1 million inheritance disappear like this reader. Take action now before it’s too late.

    Do you have questions about inheritance, tipping, weddings, family feuds, friends or any tricky issues relating to manners and money? Send them to MarketWatch’s Moneyologist and please include the state where you live (no full names will be used).

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    http://www.marketwatch.com/story/my...ves-1-million-to-unknown-relatives-2016-10-12
     
  2. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    You can't get there from here.
    I'm smelling fish, and it isn't fresh. They need to follow the advice.
    Of course, we don't have all the facts.
     
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  3. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    The reason I post these things is many here are dealing with these types of issues, or planning for their own planting.

    Regardless, this particular person is not even a son/daughter whatever. We don't know what the person dead thought of the guy. He may have been a complete a$$.

    Which matters little anyway, as it was that persons money, and free to do whatever with. Even if he wanted to hand it all to a hobo on the street.

    This entitlement mentality just wears me out.
     
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