Father passed away, left insurance policy for when I'm 25. Can I take it before then?

[JETX]

"What type of "property" did your sister get?

Approximately how much money is left for you now?"

And of course, once you have been on this site long enough, you will realize that 'Dandy Don' asks a lot of questions that are NOT relevant to the issue at hand.... and this is just some of them.

It makes NO difference what kind of property, nor how much is left in your account!! Those issues have absolutely NO bearing on the fact of the terms of the will.

 

[GuyFromFL16]

Hi everyone,

I was originally trying to ask two questions in this thread from the start. The first one was about the money my father left for me only and that was the money I wanted to use for my business that I'm trying to build now. I was wondering since my sister was able to get a property before the age she suppose to get it, if things could be the same for me but for a business instead of a property. I like alot the idea about putting it into a property and that is actually what I wanted to do from the start but then I thought that I would rather expand my business plans and make it much bigger and get off from a great start in the business world. The money that my father left is currently being paid for my living expenses without me really having a say since my mother is not working and I live with her so the money is paying for that. My mom is looking for a job so she can pay for the bills and I will pay my part but at the time she has had no success and is using my monies for living off on.. so basically I want to STOP this instead of continue to decrease the money I could put it into good use.

Now the other question was about my brother's monies. I wasn't asking for myself to keep it and use it for my own benefit. I was actually asking that if it was possible for me and/or my sister to split his part of the money and put it into a special account for him so when ever he stays with us or he goes on a trip we could use that money for his expenses. I was asking how I could go about doing this without having the accountant involved so that we don't have to keep going to him with receipts everytime my brother spends money on things and we can do it ourselfs as his trustee.

I hope you all finally understand how I been trying to clear up this big misunderstanding.

 

[Dandy Don]

JETX, my questions are quite relevant in getting a fuller understanding of the situation--you just like to see your rude postings out of a sense of your own vanity.

 

[JETX]

Dud Don:

"What type of "property" did your sister get?"
*** How is that relevant??

"Approximately how much money is left for you now?"
*** And how is THAT relevant??

Come on.... show us your wonderful insight as to how you felt the answers to those questions will affect ANY legal value to the issues raised.

 

[ALawyer]

There are a series of issues:

If your brother is on public assistance, the government has a right to recapure and claim anything that would go to him as the law is that a person's private money (with small exceptions) should be used before public money is used to support a person. So if there was not a "special needs trust" set up his share may be spoken for.

As for your share, and whether all 3 children's money is to be held until the youngest hits 25, that depends on the exact wording of the trust or trust alternative, and the discretion allowed the trustee.

As for you investing the money so it can grow, be aware lots of investments can LOSE money (does "dot com" ring a bell), and 18 year olds are notoriously bad investors and spenders / wasters of money.

The best investment you can make is in a good education.

If you want to suggest investments to the accontant / trustee, by all means do so; some are willing to listen within reason, without releasing the money or breaching their fiduciary duty to protect the beneficiary against himself

 

[GuyFromFL16]

Thanks for all the info everyone.

 

[Floodfrenzy]

There may be a way around this one, but a long way perhaps. I'm not an expert, but what if he took the money and purchased rental property, also using it as his dwelling, and ultimately started his business as a landlord? Might not be the business he's looking for, but it could help him work his way up to it and he's in effect in business as a landlord.

Might be a bit the long way to go, but if you are that insistent upon going into "business", here's one that just might work.

 

[JETX]

"but what if he took the money and purchased rental property,"
*** Your post shows your ignorance and failure to read and understand the basic issue here..... he does NOT have the money. He will have to convince the trustee of the viability of ANY 'plan' first.....

 

[Floodfrenzy]

I totally understood that. He is saying his other sibling received their monies before said age due to purchasing "property." Similarly, this would be "property" for his own dwelling, and also as an income of sorts. That's all I'm saying--similar scenario to his sibling, so why shouldn't the same apply? Follow the bouncing ball now....

That's all I'm saying, nothing ignorant this way.

 

[JETX]

The ignorance you are exhibiting is in that the TRUSTEE has control of the funds. And if the sister was able to convince the trustee that her use was in compliance with her fathers wishes and will, great. If the writer can't, that has nothing to do with it.

Simply, the fact that one beneficiary was allowed to use the funds for one purpose, does NOT give another beneficiary the right to demand, or expect, the funds for another, even similar, purpose.

 

[Floodfrenzy]

Right, I agree with you totally, 100%. I didn't say it would WORK, but I merely said it was a thought that is more or less geared in the same direction as his sibling. Ultimately, it is the trustee's decision. Not a bad idea though!

 

[sherina]

Hello Guy, I'm just another poster but I have at this point read about 6 of your post and I have to tell you that what your saying doesn't make a whole lot of since. In your original post you stated that you wanted to ascertain your part of the monies for a business venture "you wanted to work for yourself" the you changed your story to one about expanding a already existing business. I think that the other members here are being so hard on you because your storys don't not remain consistant, I also feel you have a hidden agenda for your disabled siblings portion of these monies. I'm sorry your having such a hard time. But honesty is truely the best policy.

 

[JETX]

Hello Guy

And exactly WHY did you feel that your 'non-responsive' drivel have any value on a post that has been DOA for EIGHT MONTHS!!!

 

[sherina]

JET, then why would you respond to my post, that as you say has been DOA according to you for eight months? I wont dignify another one of your post with an answer.

 

[rmet4nzkx]

JET, then why would you respond to my post, that as you say has been DOA according to you for eight months? I wont dignify another one of your post with an answer.

I was going to say the same thing but Jet beat me to it, OP is long gone and probably still trying to run his scam.....