L
LAMASON
Guest
My Mother is in a bit of a turmoil over what she needs to do in reference to making her will out. My Father died 5 years ago and left everything to my Mother. My Brother says he knows that a family owned business was being left to him and says he knows we disregarded our Father's wishes by removing an attachment to my Dad's will giving the company to him. As you might realize this is not true and if it was my Dad would have given to his attorney. Truth being that my Dad was very upset with my Brother and was going to totally leave him out of the remaining will (which says in the event my Mother died first everything would be split equally between the three children), and my Sister and I told him that was wrong.
My Brother has also told my Mother that she needs to set up account in each of our name and give us $10,000 a year to prevent taxes when she dies. He states that she could set accounts up so she is the only one that can make withdrawals until her death.
I have several questions and will list them:
1. Should my Mother think of setting up these accounts, would it benefit her any?
2. should her land and house be deeded over to us now incase she become ill and put in a nursing home so the family would not lose it.
3. Can his present wife take his inheritance if they divorce, we feel that is what she is waiting on.
4. Could a trust account be set up for his children with either my Sister or I incharge of them until the grandchildren are of age to assume that responsiblity?
Any suggestion would greatly be appreciated, we live in SC. Thanks!
My Brother has also told my Mother that she needs to set up account in each of our name and give us $10,000 a year to prevent taxes when she dies. He states that she could set accounts up so she is the only one that can make withdrawals until her death.
I have several questions and will list them:
1. Should my Mother think of setting up these accounts, would it benefit her any?
2. should her land and house be deeded over to us now incase she become ill and put in a nursing home so the family would not lose it.
3. Can his present wife take his inheritance if they divorce, we feel that is what she is waiting on.
4. Could a trust account be set up for his children with either my Sister or I incharge of them until the grandchildren are of age to assume that responsiblity?
Any suggestion would greatly be appreciated, we live in SC. Thanks!