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split part of estate prior to death

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Bruce Reitman

Junior Member
What is the name of your state? I live in Ohio,my mom lives in Ca, the property we are talking about is in Michigan.
Right now my mom owns property and a cottage in Michigan. The cottage is worthless now but it involves much land,which in the future a developer may want which would increase the land value.
This is a letter I got from one of my brothers:
Bruce want to run something by you. Have talked to Steve, Barb, and Mom so far. I have some time and money to try and save the cottage before it has to be destroyed like Alan Gold's was. What I would like to do is work on the cottage this summer and take over paying the taxes and dues and in exchange have the value split 4 ways and papers drawn up that you, Steve, and Barb would get that much more of an inheritance at the end. I would pay for a lawyer to draw up the papers to state such. Also property could not be sold out of the family unless no family left or no family member willing to keep up taxes etc. Please give me your input.
Al

I feel he should (1)apraise it now and buy me out(2)When my mother passes away (she is 85)He takes off the top the money he spent in the cottage to fix it up plus a settled on amount for his labor,then the value split 3 ways and then it can be his for a fourth of what it is worth.
Am I correct in thinking this is the fair way. What do you think would be fair?
Thank you,
Bruce Reitman
 


A

absconder

Guest
Your mother is still living and your worried about this? Man wtf is your problem? Your a dirtbag! Your bro too.
 

BelizeBreeze

Senior Member
Bruce Reitman said:
What is the name of your state? I live in Ohio,my mom lives in Ca, the property we are talking about is in Michigan.
Right now my mom owns property and a cottage in Michigan. The cottage is worthless now but it involves much land,which in the future a developer may want which would increase the land value.
This is a letter I got from one of my brothers:
Bruce want to run something by you. Have talked to Steve, Barb, and Mom so far. I have some time and money to try and save the cottage before it has to be destroyed like Alan Gold's was. What I would like to do is work on the cottage this summer and take over paying the taxes and dues and in exchange have the value split 4 ways and papers drawn up that you, Steve, and Barb would get that much more of an inheritance at the end. I would pay for a lawyer to draw up the papers to state such. Also property could not be sold out of the family unless no family left or no family member willing to keep up taxes etc. Please give me your input.
Al

I feel he should (1)apraise it now and buy me out(2)When my mother passes away (she is 85)He takes off the top the money he spent in the cottage to fix it up plus a settled on amount for his labor,then the value split 3 ways and then it can be his for a fourth of what it is worth.
Am I correct in thinking this is the fair way. What do you think would be fair?
Thank you,
Bruce Reitman
MY RESPONSE:

Dear Al;
Your plan seems to be fine for all involved except that, without mother's full and complete approval and a finding that she is competent to conduct such a transfer, the ugly little thing called 'elder abuse' rears it's head.

At this time mother is not dead. Therefore, if you would like to proceed with your plans you should contact mother, have her consult with an attorney and purchase the place from her.

Until such time as she passes and a will disposes of the assets of her estate, NO ONE knows if there is ownership interest in the proprety or not. In this case, I would be happy to let you invest in the property and 'gift' your investment to those hiers stipulated in mother's will.

Sincerely,

Bruce
 
A

absconder

Guest
Hes still a DIRTBAG. TAKE CARE OF YOUR MOM UNTILL SHE PASSES. If you get 1 penny be thankful.
 
S

seniorjudge

Guest
BelizeBreeze said:
MY RESPONSE:

Dear Al;
Your plan seems to be fine for all involved except that, without mother's full and complete approval and a finding that she is competent to conduct such a transfer, the ugly little thing called 'elder abuse' rears it's head.

At this time mother is not dead. Therefore, if you would like to proceed with your plans you should contact mother, have her consult with an attorney and purchase the place from her.

Until such time as she passes and a will disposes of the assets of her estate, NO ONE knows if there is ownership interest in the proprety or not. In this case, I would be happy to let you invest in the property and 'gift' your investment to those hiers stipulated in mother's will.

Sincerely,

Bruce

P. S. Al, you should pay for a survey, real estate attorney, and the title insurance. Mom should not have to pay for this. BR
 

Bruce Reitman

Junior Member
What part of this don't some of you understand. I(Bruce) live in Ohio.I was just sitting here enjoying the day,when I got the Email from my brother Alan. The letter said he spoke to my mother. I just felt by what he was offering was a screw to us.The cottage is in disaray and not useable at this point. My mom recently had quadruple bypass and will not be able to use the cottage in Michigan,since she now lives in California where Alan and another brother live.Believe me all I want is my mother and care about nothing else. I just don't want to be screwd by my brother,who already has most of her furnishings from the house she had to sell in Illinois when she got sick.
 

BelizeBreeze

Senior Member
Bruce Reitman said:
What part of this don't some of you understand. I(Bruce) live in Ohio.I was just sitting here enjoying the day,when I got the Email from my brother Alan. The letter said he spoke to my mother. I just felt by what he was offering was a screw to us.The cottage is in disaray and not useable at this point. My mom recently had quadruple bypass and will not be able to use the cottage in Michigan,since she now lives in California where Alan and another brother live.Believe me all I want is my mother and care about nothing else. I just don't want to be screwd by my brother,who already has most of her furnishings from the house she had to sell in Illinois when she got sick.
Speaking with your mother and her being judged competent to understand and to participate in such a transaction at her age are two different things.

So, what part of 'elder abuse' don't YOU understand?
 

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