Grandmother's Estate

[backhoe]

What is the name of your state (only U.S. law)? NM

My grandmother created a trust for her business property and that is all legal and fine but she also has a personal estate and other than the matter which I am asking about, it is pretty much cut and dried.

My aunt has given her mother gifts through the years, some quite valuable some just trinkets. She thinks that she automatically gets all of those things back above and beyond what it says in the will that everything be divided equally between the siblings.

In my Dad's opinion, she can have them but there are other siblings and I am afraid they may have a different opinion so I would like to know the legal answer.

I'm asking this for my dad, he is executer of the will.What is the name of your state (only U.S. law)?

 

[nextwife]

Has grandma passed away?

If so, has probate been filed and the executor properly and officially appointed by the court? has an inventory of the estate been made and the will filed? Have the creditors had sufficient time to file their claims and be paid?

 

[anteater]

Have the creditors had sufficient time to file their claims and be paid?

Oh, nextwife, you worry about the damn creditors too much!

My aunt has given her mother gifts through the years, some quite valuable some just trinkets.

They are gifts. They belonged to Grandma. They are part of the estate.

(But the other siblings are dorks for not letting Aunt have them back.)

Let the fireworks begin!

 

[nextwife]

Perhaps I do, but the beneficiaries have no right to ANYTHING until the estate is properly filed and all the decedant's financial responsibilities handled. People start planning what THEY should get before they have a clue what the decedant is responsible to pay.

And if Grandma is still alive, who's to say what will be left in her estate by the time she passes? Thus third parties discussing it makes no sense. Grandma can give, sell, or otherwise dispose of anything she owns while still alive, so who's to know what will be owed or remains in her possession when the time comes? A lengthy nursing home stay, for example could make a huge difference in what assets the estate has available at her death.

 

[backhoe]

Sorry, we left to go make sure Grandma ate.

So no, she hasn't passed away. The reason this has come up is my father wants to put Grandma in an assisted living facility because she really needs assistance and his sisters won't help him take care of her and they won't approve of anyone he has found to stay with her.

This aunt wants to take the gifts when she goes into assisted living, this did annoy my father and he said no and then his other sister is basically shopping around and making lists of what she wants, it is kind of sickening.

As far as owing any money, she doesn't except for ordinary bills like utilities and such.

She has actually arranged her estate so that it doesn't have to go to probate by giving rights of survivorship on all her accounts and as I said, the bulk of her estate is the trust it is mostly her personal possessions that are the concern.

What my father would like to accomplish is the most fair and peaceful transition possible. He has threatened,but only to us, not his siblings, that if there are any fights he'll have an auction and they can try to buy the things they want.

My father has taken care of her for years and my aunts have been sitting around like vultures just waiting, (not my father's words).

My gift aunt has actually asked my Grandma if she could take those things in the recent past and my Grandma said no. My mother asked my gift aunt not to ask such things because it stresses my Grandma out and she doesn't ask her anymore but asks my dad.

 

[backhoe]

And if Grandma is still alive, who's to say what will be left in her estate by the time she passes? Thus third parties discussing it makes no sense. Grandma can give, sell, or otherwise dispose of anything she owns while still alive, so who's to know what will be owed or remains in her possession when the time comes? A lengthy nursing home stay, for example could make a huge difference in what assets the estate has available at her death.

She has a long-term care policy that will help pay for assisted living but if not she has enough monthly income to cover the cost, I don't know if it also covers nursing home care. We can't find the policy but we do know she has it and the premium comes out of her account monthly.

She is going to be 89 next month and except for osteoporosis and senility that is getting worse by the day, she is in good health.

 

[anteater]

Sorry about the misinterpretation, but when you mentioned "...above and beyond what it says in the will..." and your Dad being executor, I assumed that Grandma had passed away.

Has your grandmother granted power of attorney to your father? His being nominated as executor in the will does not give him any legal authority now.

 

[backhoe]

Sorry about the misinterpretation, but when you mentioned "...above and beyond what it says in the will..." and your Dad being executor, I assumed that Grandma had passed away.

Has your grandmother granted power of attorney to your father? His being nominated as executor in the will does not give him any legal authority now.

Yes, my father has Power of Attorney.

 

[LdiJ]

Yes, my father has Power of Attorney.

Then, when grandma goes into assisted living she should take everything with her that she will want there, and the rest should be locked up in storage until/unless it needs to be sold to cover her expenses.

 

[nextwife]

And, to the poster, just for clarification, Dad is not and will not "BE" executor until the following occurs:

A. Grandma passes away
B. A probate filing is done
C. Dad is officially named as the executor through the probate court.

I agree with LdiJ: Lock up what may be stolen from the care facility, unless doing so will make Grandma uncomfortable or agitated. And keep her assets safe until it is KNOWN what costs those assets may need to cover.

The fact that Grandma is alive and now in need of long term care, the total cost of which is yet to be determined, is EXACTLY what I was referring to. There is no estate until it she passes, and there is nothing for estate beneficiaries UNTIL it is known what costs need to be paid from her assets to cover all her needs, burial needs, care needs, etc.