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xcaptain2
Guest
What is the name of your state? Pennsylvania.
Executor to the estate located loan file on me (beneficiary to estate). Loan (verbal agreement) was made in 1983 for use in purchase of a car and a home. I provided documentation (1983) to parents on the loan now located by Executor. In January 1987 last payment was made to parents and I reconciled all payments made to their Bank statements – the balance due of about $12,000 was then gifted (verbal) and balance due went to zero. No loan activity since January 1987 from parents or me. Do Pennsylvania Statutes of Limitations apply?
If not then will parents verbal gifting words hold up in court when sworn to by me, my wife and I believe a 2nd gifted beneficiary? Please note that 2 other beneficiaries may not have received verbal gifting (4 beneficiaries in all with equal shares) – 1 (also the Executor) may have a loan older that mine (paid – unknown) and number 2 cited in the will for $1,000 loan (baggage from in-law) now due. However, they were also gifted based on verbal to me and my wife. A further complication is that 2 beneficiaries (not me) opened an estate lock box and 1 beneficiary reviewed, etc... its content on these loans and other estate matter before Executor took possession of the box. The Executor to the estate was known for years by all parties.
Executor now seeks my cancelled checks, etc… on loan and says he plans to reduce my share related to the $12,000 and/or recover it for the estate -- no formal loan files maintained by parents. Do I provide access to requested checks, etc… for his review? Should I provide copies of my personal loan info?
Executor to the estate located loan file on me (beneficiary to estate). Loan (verbal agreement) was made in 1983 for use in purchase of a car and a home. I provided documentation (1983) to parents on the loan now located by Executor. In January 1987 last payment was made to parents and I reconciled all payments made to their Bank statements – the balance due of about $12,000 was then gifted (verbal) and balance due went to zero. No loan activity since January 1987 from parents or me. Do Pennsylvania Statutes of Limitations apply?
If not then will parents verbal gifting words hold up in court when sworn to by me, my wife and I believe a 2nd gifted beneficiary? Please note that 2 other beneficiaries may not have received verbal gifting (4 beneficiaries in all with equal shares) – 1 (also the Executor) may have a loan older that mine (paid – unknown) and number 2 cited in the will for $1,000 loan (baggage from in-law) now due. However, they were also gifted based on verbal to me and my wife. A further complication is that 2 beneficiaries (not me) opened an estate lock box and 1 beneficiary reviewed, etc... its content on these loans and other estate matter before Executor took possession of the box. The Executor to the estate was known for years by all parties.
Executor now seeks my cancelled checks, etc… on loan and says he plans to reduce my share related to the $12,000 and/or recover it for the estate -- no formal loan files maintained by parents. Do I provide access to requested checks, etc… for his review? Should I provide copies of my personal loan info?