SoCalifornia
Junior Member
What is the name of your state (only U.S. law)? Ca
Hi,
My grandparent passed away 10 years ago leaving a property to divide amongst her children. My father passed away 5 years ago leaving his portion of the inheritance to my sibling & myself.
My uncle, the Executor of my grandparent's estate sold the property last year on a timed payment plan from the purchaser. We were told that we were to receive our portion of the inheritance as payments over the next 10 years. We received the first payment (last year).
I have outstanding student loans and my uncle expressed that I should use the inheritance to pay off those loans. As the first payment was not enough to cover one of the several loans I put the money into savings until the next payment. Paying off the loans in their entirety looks to yield a potential discount of 25% vs. Payment plans (collection fees & interest can be negotiated down). Upon learning that I had not used the money to pay the loans my uncle decided not to issue further payment (no formal agreement was made as to how I would use the money nor when I would pay them).
The rest of the family has received their payment for this year (including the sibling that shares my portion) & I am being told that I can't receive this year's payment as there are tax considerations involving paying out the amount in yearly installments.
Is the Exectator allowed to selectively withold payment on an estate if he decides that the recipient isn't using the money as he wants them too? I have explained the situation & have been asked to provide detailed information regarding my loans (supposedly so that payments can be made directly from the estate to the loan holders).
Thanks for any guidance on whether this is legal & and and direction as to how I could proceed.
Hi,
My grandparent passed away 10 years ago leaving a property to divide amongst her children. My father passed away 5 years ago leaving his portion of the inheritance to my sibling & myself.
My uncle, the Executor of my grandparent's estate sold the property last year on a timed payment plan from the purchaser. We were told that we were to receive our portion of the inheritance as payments over the next 10 years. We received the first payment (last year).
I have outstanding student loans and my uncle expressed that I should use the inheritance to pay off those loans. As the first payment was not enough to cover one of the several loans I put the money into savings until the next payment. Paying off the loans in their entirety looks to yield a potential discount of 25% vs. Payment plans (collection fees & interest can be negotiated down). Upon learning that I had not used the money to pay the loans my uncle decided not to issue further payment (no formal agreement was made as to how I would use the money nor when I would pay them).
The rest of the family has received their payment for this year (including the sibling that shares my portion) & I am being told that I can't receive this year's payment as there are tax considerations involving paying out the amount in yearly installments.
Is the Exectator allowed to selectively withold payment on an estate if he decides that the recipient isn't using the money as he wants them too? I have explained the situation & have been asked to provide detailed information regarding my loans (supposedly so that payments can be made directly from the estate to the loan holders).
Thanks for any guidance on whether this is legal & and and direction as to how I could proceed.