What is the name of your state (only U.S. law)? Texas
A friend left my mother and I $50k each in 2012. We were just friends, not related in any way. We were sent an accounting of the estate at that time for $2.2 million. There was a contest against the will, which was squashed. Then it was tied up with IRS.
So now 4 years later... executor, and son of deceased, has told me that there is no money left in the estate. He told me his father gave him money before he died, and that was the issue with the IRS. He says he had to put money into the estate to cover the tax payments. He wants to know if my mother and I will accept $7k each, instead of the $50k each. Says he is paying out of his own pocket, because there is no money in the estate, but that is all he can afford.
We plan on asking for an accounting of the will, but I'm wondering what our options are here. Thoughts? Thank you.
A friend left my mother and I $50k each in 2012. We were just friends, not related in any way. We were sent an accounting of the estate at that time for $2.2 million. There was a contest against the will, which was squashed. Then it was tied up with IRS.
So now 4 years later... executor, and son of deceased, has told me that there is no money left in the estate. He told me his father gave him money before he died, and that was the issue with the IRS. He says he had to put money into the estate to cover the tax payments. He wants to know if my mother and I will accept $7k each, instead of the $50k each. Says he is paying out of his own pocket, because there is no money in the estate, but that is all he can afford.
We plan on asking for an accounting of the will, but I'm wondering what our options are here. Thoughts? Thank you.