A
acheeze
Guest
What is the name of your state? New Jersey
My mother passed away last year and named me as the executor of her will. At the time of her passing, she had but one outstanding debt, a home equity loan (HEL) which was obtained for renovations performed to our home several years ago. The alterations to our home were accomplished to provide for more space for my sister and family who resided upstairs from my mom and I. Since that time, however, my sister and her family purchased a home of their own and have subsequently moved out. Following their vacating the space, I decided to move upstairs from my mom in anticipation of marrage and beginning a family of my own. I provided my mom with monthly "rent" payments which she subsequently used to continually pay on the HEL. Following her death, however I paid off the remainder of the loan from the estate in accordance with her last will and testament ("I direct that all my just debts, funeral expenses and all estate and inheritance taxes, State and Federal, payable upon my estate be paid and satisfied as soon after my decease as conveniently can be done."). My sister has objected to this, siting that she is not responsible for 50% of the remaining debt. She has now, in an effort to compensate herself from her half of the loan payment, withheld payment of 50% of Federal income taxes, which I have faithfully paid from my own packet. Am I incorrect in assuming that share and share alike includes debt? Should I play dirty pool too and withhold the same amount of monies from upcoming estate collections?
Please advise.
My mother passed away last year and named me as the executor of her will. At the time of her passing, she had but one outstanding debt, a home equity loan (HEL) which was obtained for renovations performed to our home several years ago. The alterations to our home were accomplished to provide for more space for my sister and family who resided upstairs from my mom and I. Since that time, however, my sister and her family purchased a home of their own and have subsequently moved out. Following their vacating the space, I decided to move upstairs from my mom in anticipation of marrage and beginning a family of my own. I provided my mom with monthly "rent" payments which she subsequently used to continually pay on the HEL. Following her death, however I paid off the remainder of the loan from the estate in accordance with her last will and testament ("I direct that all my just debts, funeral expenses and all estate and inheritance taxes, State and Federal, payable upon my estate be paid and satisfied as soon after my decease as conveniently can be done."). My sister has objected to this, siting that she is not responsible for 50% of the remaining debt. She has now, in an effort to compensate herself from her half of the loan payment, withheld payment of 50% of Federal income taxes, which I have faithfully paid from my own packet. Am I incorrect in assuming that share and share alike includes debt? Should I play dirty pool too and withhold the same amount of monies from upcoming estate collections?
Please advise.