What is the name of your state (only U.S. law)? MI
Father passed away in November of 2011. A cousin was appointed administrator of Dad's will along with assisting brother. I have a number of questions to pose in regards to what is actually supposed to happen in the adminstrating of a will and if there are things that have not been done (legally) in the situation of my Dad's will.
Dad told me in the last 70's that I should not count on receiving any "financial" inheritance when he passes .. because of his financial contributions to my failing business back then. Fast forward to 7 years ago. Father first told me (about 7 years ago) that he updated his will to include me. He said that he kept wording the same in regards to my two brothers receiving any proceeds from the sale of another business. (I would not be involved with that.) But that anything else of monetary value, would now be split three ways .. between myself and two brothers. His explanation for that, is that the the value of his current business had exceeded his expecations and that what I owed him was a pittance to what the brothers would get for his business.
There were some huge mistakes on his part .. and his attorney. It turns out he (Dad) had annuty, insurance policies (and what have you) that he had beneficiaries designated as my two brothers. He failed to think about updating all of those policies. (Did he think his updated Will would supercede that ... I don't know?) From what has been explained to me .... that is something his lawyer should have reminded him/helped him with.
I guess that would be my first question in regards to this whole mess. Is there anything that can be done to rectify the above situation?
The second issue is ... that it was explained to my cousin (administrator) by my brother (appointed assistant) that above and beyond the meeting we all had with lawyer back in December, there is nothing more that has to be done. Since beneficiary names are listed on all of the financial policies ... I am "out" and there is no explaining/proving anything out to me?
It is now March 2012 and I have been just kind of waiting to hear something from one of the administrators. Brother has been out of state, so thought I would not press it. Finally I called administrator cousin and he told me what my brother had relayed to him. He had accepted that and thought that everything was a done deal. A month ago, my brother did tell me that there were a few dollars left in the check book that needs to be split up. (??)
My additional questions are because of a comment that was made by the spouse of my brother. For the past four years or so, brother also took care of all financial/medical matters for Dad. He was in a retirement home and could no longer handle doing that any longer. The comment that this spouse made was that "they" always made sure that very little monies "stayed" in Dad's checking account ... since it was little or no interest accrued on that. That comment (alone) leads me to believe that there were monies coming in that were being put .... where?
Would he (brother) have continued to put money into the policies that were (still only) designated to my two brothers? If that was the case was this wrong/illegal?
And last, but not least .... do I have any right to ask my brother to see all financial tranactions since he took over all of Dad's financial matters? Meaning, what does one do to attempt to prove wrong doing of Dad's financial matter in those last four years ... when he no longer handled that himself?
Thank you for any feedback you might have on this.
DL
Father passed away in November of 2011. A cousin was appointed administrator of Dad's will along with assisting brother. I have a number of questions to pose in regards to what is actually supposed to happen in the adminstrating of a will and if there are things that have not been done (legally) in the situation of my Dad's will.
Dad told me in the last 70's that I should not count on receiving any "financial" inheritance when he passes .. because of his financial contributions to my failing business back then. Fast forward to 7 years ago. Father first told me (about 7 years ago) that he updated his will to include me. He said that he kept wording the same in regards to my two brothers receiving any proceeds from the sale of another business. (I would not be involved with that.) But that anything else of monetary value, would now be split three ways .. between myself and two brothers. His explanation for that, is that the the value of his current business had exceeded his expecations and that what I owed him was a pittance to what the brothers would get for his business.
There were some huge mistakes on his part .. and his attorney. It turns out he (Dad) had annuty, insurance policies (and what have you) that he had beneficiaries designated as my two brothers. He failed to think about updating all of those policies. (Did he think his updated Will would supercede that ... I don't know?) From what has been explained to me .... that is something his lawyer should have reminded him/helped him with.
I guess that would be my first question in regards to this whole mess. Is there anything that can be done to rectify the above situation?
The second issue is ... that it was explained to my cousin (administrator) by my brother (appointed assistant) that above and beyond the meeting we all had with lawyer back in December, there is nothing more that has to be done. Since beneficiary names are listed on all of the financial policies ... I am "out" and there is no explaining/proving anything out to me?
It is now March 2012 and I have been just kind of waiting to hear something from one of the administrators. Brother has been out of state, so thought I would not press it. Finally I called administrator cousin and he told me what my brother had relayed to him. He had accepted that and thought that everything was a done deal. A month ago, my brother did tell me that there were a few dollars left in the check book that needs to be split up. (??)
My additional questions are because of a comment that was made by the spouse of my brother. For the past four years or so, brother also took care of all financial/medical matters for Dad. He was in a retirement home and could no longer handle doing that any longer. The comment that this spouse made was that "they" always made sure that very little monies "stayed" in Dad's checking account ... since it was little or no interest accrued on that. That comment (alone) leads me to believe that there were monies coming in that were being put .... where?
Would he (brother) have continued to put money into the policies that were (still only) designated to my two brothers? If that was the case was this wrong/illegal?
And last, but not least .... do I have any right to ask my brother to see all financial tranactions since he took over all of Dad's financial matters? Meaning, what does one do to attempt to prove wrong doing of Dad's financial matter in those last four years ... when he no longer handled that himself?
Thank you for any feedback you might have on this.
DL
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