What is the name of your state (only U.S. law)? California
My grandmother years ago had her will drawn up, leaving her shares in the family company to be split 50/50 between myself and my cousin. She now has dementia and my mom and uncle have power of attorney.
My parents and I do not have a great relationship, I've called them out on the way they run the family business and they did not like that.
My parents are now buying my grandmother's shares in the company, so they will own 100%. (After they bought out 2 others). They have not told my uncle their plans, they say they don't need to tell him ( other power of attorney, and father of the cousin who was also set to receive half the business).
My question is, if my grandma has already willed her shares to my cousin and me, can they be bought like this, leaving us to inherit nothing now? I was told by my financial planner (who is also my parent's financial planner) that because of my grandma's mental state that my parents could not touch her shares.
My grandmother years ago had her will drawn up, leaving her shares in the family company to be split 50/50 between myself and my cousin. She now has dementia and my mom and uncle have power of attorney.
My parents and I do not have a great relationship, I've called them out on the way they run the family business and they did not like that.
My parents are now buying my grandmother's shares in the company, so they will own 100%. (After they bought out 2 others). They have not told my uncle their plans, they say they don't need to tell him ( other power of attorney, and father of the cousin who was also set to receive half the business).
My question is, if my grandma has already willed her shares to my cousin and me, can they be bought like this, leaving us to inherit nothing now? I was told by my financial planner (who is also my parent's financial planner) that because of my grandma's mental state that my parents could not touch her shares.