What is the name of your state (only U.S. law)? I'm inIndiana but I think the questions I ask pertain to Texas since that is where te will and assets are.
What does it mean to be Executor and Trustee?
What can I do if the will has inconsistancy's in it? For example, I am listed as the Executor and Trustee and it states that 100% go to me but at the same time it lists the 2 children as beneficiaries and that after I divide assets between children I am to recieve 100%. My problem with this is isn't 100% of 0 still 0?? We all know that he did not intentionally cut me out of the will, it is the way it was written that one concludes this.
The other matter is when he died, his father had me sign over my executor and Trustee positions to him 2 days after his suicide. I was given a truck by my Fiance (deceased), and after his death, his father told me not worry, that nobody is going to take my truck away from me even if he had to pay for it for me. I called him on Fri. to ask his father to help me get a loan to pay off my truck so I could get the title in my name and register the truck because the registration is now out of date. He told me No, and that he didn't have any money, that there is no money. He said he would call his attorney and see what could be done and he would call me sometime this week. But he called me the very next day and asked me if I understood what it means to be Trustee...and that he wanted me to look into what it means and what my responsibilities are and that I would be responsible for the next 28 years for all the taxes, back taxes, etc., etc. He also told me that if I were to relinquish my position as Trustee that he would pay off my truck and give it to me with my name on the title.
Now then, He keeps telling me there is no money and only headaches. But I can't help but wonder what taxes I would be responsible for if there is nothing to pay taxes on?? Plus, I was in the meeting with my Fiance, his father, and the attorney and the assets and money were revealed. At that particular time, there was 1.8 million dollars that had been acquired from the natural gas company that is drilling on the land. They found natural gas and believe it to be one of the largest pockets of natural gas ever tapped into. The 1.8 million was to ensure they could drill for the next 2 years, it doesn't include any monies for the natural gas itself. Anyway, my point is there is money, lots of it, and I was in the room while it was all being discussed.
Now, I was never interested in marrying my Fiance because he had money, I never bothered to even find out about it. My fiance used to tell me he was trying to prepare me for what was about to happen. He told me that our grandkids grandkids would be affected by it. He also always told me that all he ever wanted was to make me happy and take any and all financial worries and stress away from me forever. He also trusted that I would make sure his boys were taken care of and that they got what was theirs. He didn't want his ex-wife to be able to get anything, he knew she would use it only for herself and not the boys.
I don't know what to do...I need to understand what the will really says, am I still the Executor and Trustee? (since I signed his fathers request in duress), what does it all mean? will I still get my truck? How can I pay for it? Do I get compensation for being Executor and Trustee? And WHY is his father offering to give me 13 thousand dollars if I give up the positions???
PLEASE HELP....
What does it mean to be Executor and Trustee?
What can I do if the will has inconsistancy's in it? For example, I am listed as the Executor and Trustee and it states that 100% go to me but at the same time it lists the 2 children as beneficiaries and that after I divide assets between children I am to recieve 100%. My problem with this is isn't 100% of 0 still 0?? We all know that he did not intentionally cut me out of the will, it is the way it was written that one concludes this.
The other matter is when he died, his father had me sign over my executor and Trustee positions to him 2 days after his suicide. I was given a truck by my Fiance (deceased), and after his death, his father told me not worry, that nobody is going to take my truck away from me even if he had to pay for it for me. I called him on Fri. to ask his father to help me get a loan to pay off my truck so I could get the title in my name and register the truck because the registration is now out of date. He told me No, and that he didn't have any money, that there is no money. He said he would call his attorney and see what could be done and he would call me sometime this week. But he called me the very next day and asked me if I understood what it means to be Trustee...and that he wanted me to look into what it means and what my responsibilities are and that I would be responsible for the next 28 years for all the taxes, back taxes, etc., etc. He also told me that if I were to relinquish my position as Trustee that he would pay off my truck and give it to me with my name on the title.
Now then, He keeps telling me there is no money and only headaches. But I can't help but wonder what taxes I would be responsible for if there is nothing to pay taxes on?? Plus, I was in the meeting with my Fiance, his father, and the attorney and the assets and money were revealed. At that particular time, there was 1.8 million dollars that had been acquired from the natural gas company that is drilling on the land. They found natural gas and believe it to be one of the largest pockets of natural gas ever tapped into. The 1.8 million was to ensure they could drill for the next 2 years, it doesn't include any monies for the natural gas itself. Anyway, my point is there is money, lots of it, and I was in the room while it was all being discussed.
Now, I was never interested in marrying my Fiance because he had money, I never bothered to even find out about it. My fiance used to tell me he was trying to prepare me for what was about to happen. He told me that our grandkids grandkids would be affected by it. He also always told me that all he ever wanted was to make me happy and take any and all financial worries and stress away from me forever. He also trusted that I would make sure his boys were taken care of and that they got what was theirs. He didn't want his ex-wife to be able to get anything, he knew she would use it only for herself and not the boys.
I don't know what to do...I need to understand what the will really says, am I still the Executor and Trustee? (since I signed his fathers request in duress), what does it all mean? will I still get my truck? How can I pay for it? Do I get compensation for being Executor and Trustee? And WHY is his father offering to give me 13 thousand dollars if I give up the positions???
PLEASE HELP....