What is the name of your state (only U.S. law)? Indiana
The executor of my mother’s estate is really reaching to the outer limits of the scope of the will and essentially trying to interpret Mom's intent to satisfy her personal agenda, which is to tie up the liquidity (~150K) of the estate in a money market trust...you see, mom left all her money market funds (~100K) to my children to begin being distributed upon the thirtieth birthday of my youngest, which I think is great. She left everything else to me, her only descendent. Not to mention that the executor has suggested some outlandish purchases in support of Mom's burial proceedings. I'm all for a respectful funeral, at any cost, but I'm not commissioning a statue (slight exaggeration) on behalf of my mother. There's no Nobel Peace prize or relevant accomplishment in her repertoire, she's just an average Joe's wife who happened to inherit quite a sum of "old" money (~250K.)
The executor doesn't like my mom’s attorney’s interpretation or more specifically authoring complexity of the will and is using the fact that we live in a "one horse town" (despite the lawyers Duke University law degree) to declare mom’s attorney as inexperienced in estate planning/executing. Bottom line is that she wants to fire mom’s attorney and hire someone who will represent her agenda. What are my options?
More specifically; she wants to classify the liquidity of the estate (~150K in checking accounts) as part of the money market fund which places it, by the design of the will, into trust for my children, which will not mature until the year 2026. I think the checking accounts should be released into my care, (as all assets will ultimately be since I’m the sole heir) which incidentally, is a big deal to me not so I can go out and buy a corvette (I make plenty of money) but because I want to ensure my children have the opportunity to acquire a quality education, at an institution with a reputation commensurate with Duke, Stanford, MIT, and the like. This obviously comes at a greater expense than does a state university but the return on investment carries more value to me than does the NASDAQ. Further, why secure it to be issued to my children when they are in their thirties…too late for college…too early for retirement…it will get spent in one swoop on a house or something of the sort. Again, what are my options?
Of course I’m going to consult my mother’s attorney, I just like to weigh all my options, and have all available resources, before making a decision. Thanks, in advance, for your assistance.
The executor of my mother’s estate is really reaching to the outer limits of the scope of the will and essentially trying to interpret Mom's intent to satisfy her personal agenda, which is to tie up the liquidity (~150K) of the estate in a money market trust...you see, mom left all her money market funds (~100K) to my children to begin being distributed upon the thirtieth birthday of my youngest, which I think is great. She left everything else to me, her only descendent. Not to mention that the executor has suggested some outlandish purchases in support of Mom's burial proceedings. I'm all for a respectful funeral, at any cost, but I'm not commissioning a statue (slight exaggeration) on behalf of my mother. There's no Nobel Peace prize or relevant accomplishment in her repertoire, she's just an average Joe's wife who happened to inherit quite a sum of "old" money (~250K.)
The executor doesn't like my mom’s attorney’s interpretation or more specifically authoring complexity of the will and is using the fact that we live in a "one horse town" (despite the lawyers Duke University law degree) to declare mom’s attorney as inexperienced in estate planning/executing. Bottom line is that she wants to fire mom’s attorney and hire someone who will represent her agenda. What are my options?
More specifically; she wants to classify the liquidity of the estate (~150K in checking accounts) as part of the money market fund which places it, by the design of the will, into trust for my children, which will not mature until the year 2026. I think the checking accounts should be released into my care, (as all assets will ultimately be since I’m the sole heir) which incidentally, is a big deal to me not so I can go out and buy a corvette (I make plenty of money) but because I want to ensure my children have the opportunity to acquire a quality education, at an institution with a reputation commensurate with Duke, Stanford, MIT, and the like. This obviously comes at a greater expense than does a state university but the return on investment carries more value to me than does the NASDAQ. Further, why secure it to be issued to my children when they are in their thirties…too late for college…too early for retirement…it will get spent in one swoop on a house or something of the sort. Again, what are my options?
Of course I’m going to consult my mother’s attorney, I just like to weigh all my options, and have all available resources, before making a decision. Thanks, in advance, for your assistance.
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