What is the name of your state (only U.S. law)? Illinois, issue is in CA tho
So here is the situation, my great uncle(grandmothers brother), who was somewhat wealthy, passed away. In addition my father had passed away. The heirs in my uncles estate include my fathers siblings, my sister and I, plus two others (grandmothers sisters children).
About 2 1/2 years ago I get this call from my uncles financial planner (my great uncle was still alive) telling me that I am an heir and that my uncle has authorized a one time early disbursement to help with immediate needs. Now I don't know why this happened but think maybe someone had a problem (they mentioned medical bills included too) and the way my uncle is, everything is equal; if one gets help then all do. So we fill out this paperwork, get it notarized FedEx it back....Then nothing, we got some letters saying phase 2 is in play, yada, yada, yada. Hear though the grapevine that we (my sister and I) are out of the will (we I assume are receiving my father portion). No big deal, I never expected anything so no loss. I was just upset at how the situation was handled being kept in the dark.
Fast forward to last year, my uncle has passed away and I again get another call from the financial planner. "Explaining" everything. There will be a one time disbursement of $50,000 from my aunt (she had passed about 4 years ago, this was that initial money from before I assume) and then a 10 year annuity with an amount to be determined later (after everything is liquidated I assume).
My sister and I filled out a set of annuity papers and sent them back. After which the planner called and talked for about 20 minutes just about general life stuff. A few days later he sends another set of annuity papers saying that this type will give us more use of the money sooner than later (all the other heirs are in their 50s while my sister and I are 34 and 30 respectfully). Ok, so I fill this all out and sent it back again. And again we wait
So now it has been about a year since the first conversations and I have not heard anything from him and this is where my dilemma lies. I don't want to seem greedy, this is a wonderful thing that my uncle has done for my sister and I. However, at the same time I would like some information. I recently graduated from college last summer and haven't been able to find a job. I am thinking about going back to school and knowing I would have this money would aid in my decision. I started late in school after the military and want to "start my life" and knowledge of this would help me do so.
What should I do? Since it is the end of the year, I was planning on calling to ask about a 1099 and also give my new address, hoping that he may give some information but I have a feeling I will just be directed to his assistant and miss my opportunity. I assume that we are written in the will and that this can not be changed. But who monitors that the will is being executed properly. Can I go to the court and look at the actual will without them knowing because I am listed as an heir?
I just really want to know what is going on one way or another. I want to know is there money. Are we talking $10,000 or $100,000 a year for ten years. I don't really know how the annuity works. I just need answers....
***On a side note, when my father passed away, my sister and I were taken for from my stepmom. The estate was dragged on for 4 years where she tried to wear us down and leave us with nothing. I don't want to be passive this time, I feel if I had voiced my concerns. My family told me to not be so quick to assume but I knew she would do this from the day she left the wake early to return to Texas once she found out our flight was the day before her's and we would be in the house for 24 hrs by ourselves.
Thank you for reading and any help you can provide. Sorry for this being a little wordy. I actually make an account to make a quick post to help spread the word about a concerning issue for another forum I'm a part of and saw this was a legal forum and thought I could kill 2 birds...Thanks again
DSO
______________________________________________________________
Charles Kraynak
The Chazmental (aka Charles Kraynak) Job: Now with a Friday (Feb 5th) Lynch Mob - PocketFives
The Chazmental (aka Charles Kraynak) Job: Now with a Friday (Feb 5th) Lynch Mob
So here is the situation, my great uncle(grandmothers brother), who was somewhat wealthy, passed away. In addition my father had passed away. The heirs in my uncles estate include my fathers siblings, my sister and I, plus two others (grandmothers sisters children).
About 2 1/2 years ago I get this call from my uncles financial planner (my great uncle was still alive) telling me that I am an heir and that my uncle has authorized a one time early disbursement to help with immediate needs. Now I don't know why this happened but think maybe someone had a problem (they mentioned medical bills included too) and the way my uncle is, everything is equal; if one gets help then all do. So we fill out this paperwork, get it notarized FedEx it back....Then nothing, we got some letters saying phase 2 is in play, yada, yada, yada. Hear though the grapevine that we (my sister and I) are out of the will (we I assume are receiving my father portion). No big deal, I never expected anything so no loss. I was just upset at how the situation was handled being kept in the dark.
Fast forward to last year, my uncle has passed away and I again get another call from the financial planner. "Explaining" everything. There will be a one time disbursement of $50,000 from my aunt (she had passed about 4 years ago, this was that initial money from before I assume) and then a 10 year annuity with an amount to be determined later (after everything is liquidated I assume).
My sister and I filled out a set of annuity papers and sent them back. After which the planner called and talked for about 20 minutes just about general life stuff. A few days later he sends another set of annuity papers saying that this type will give us more use of the money sooner than later (all the other heirs are in their 50s while my sister and I are 34 and 30 respectfully). Ok, so I fill this all out and sent it back again. And again we wait
So now it has been about a year since the first conversations and I have not heard anything from him and this is where my dilemma lies. I don't want to seem greedy, this is a wonderful thing that my uncle has done for my sister and I. However, at the same time I would like some information. I recently graduated from college last summer and haven't been able to find a job. I am thinking about going back to school and knowing I would have this money would aid in my decision. I started late in school after the military and want to "start my life" and knowledge of this would help me do so.
What should I do? Since it is the end of the year, I was planning on calling to ask about a 1099 and also give my new address, hoping that he may give some information but I have a feeling I will just be directed to his assistant and miss my opportunity. I assume that we are written in the will and that this can not be changed. But who monitors that the will is being executed properly. Can I go to the court and look at the actual will without them knowing because I am listed as an heir?
I just really want to know what is going on one way or another. I want to know is there money. Are we talking $10,000 or $100,000 a year for ten years. I don't really know how the annuity works. I just need answers....
***On a side note, when my father passed away, my sister and I were taken for from my stepmom. The estate was dragged on for 4 years where she tried to wear us down and leave us with nothing. I don't want to be passive this time, I feel if I had voiced my concerns. My family told me to not be so quick to assume but I knew she would do this from the day she left the wake early to return to Texas once she found out our flight was the day before her's and we would be in the house for 24 hrs by ourselves.
Thank you for reading and any help you can provide. Sorry for this being a little wordy. I actually make an account to make a quick post to help spread the word about a concerning issue for another forum I'm a part of and saw this was a legal forum and thought I could kill 2 birds...Thanks again
DSO
______________________________________________________________
Charles Kraynak
The Chazmental (aka Charles Kraynak) Job: Now with a Friday (Feb 5th) Lynch Mob - PocketFives
The Chazmental (aka Charles Kraynak) Job: Now with a Friday (Feb 5th) Lynch Mob