In her will my grandmother stated that I should receive one sixth of the sale of her property in Aspen, Colorado. The property recently sold for $3.1 million. My two maternal aunts (A & C) owned the property. At the time of the sale, for some reason Aunt A put my name on the deed without my knowledge.
In the process of giving me my grandmother's promised portion of the property sale receipt, Aunt A put the money into four CDs under both our names. I let her do this to secure the nearly half million dollars. In the meantime, she informed me that she was expecting me to contribute to her capital gains tax burden. I agreed and earmarked the largest of the four CDs for that purpose. For the last several months I have gained interest on the four CDs. Three of the CDs have matured, and I am reinvesting two of them in my name. When the third CD matures, I will reinvest that one likewise.
Here's the interesting part. When the fourth CD matured, Aunt A apparently withdrew the money and placed into her own account, ostensibly to have it available for paying the tax in April. However, I no longer gain from the interest on that amount. In fact, I no longer have any records of the dispostion of that money.
In summary, Aunt A gave me about $500,000 per my grandmother's promised bequest and then took back $150,000 of it with which to pay the tax but did not consult with me or save the money under both our names. In effect, she gave with one hand and took back with the other.
I feel cheated. Why was I put on the deed at that last minute without my knowledge? Am I expected to pay part of the capital gains tax on an inheritance? Why am I not collecting interest on money previously given to me? Do I have any legal recourse to gain back money already given to me?
Unfortunately, few of these transactions are in writing. I have only my grandmother's handwritten will that did not go through probate. I also have statements of the four CD deposits with running accounts of their interest until they matured. I have asked my Aunt to inform me of the location of my money from the fourth CD and also asked for an accounting of the interest and the upcoming part of the tax I'm expected to pay. So far, she has not replied.
Should I talk with a lawyer? If so, what type?
Thank you for any advice.
In the process of giving me my grandmother's promised portion of the property sale receipt, Aunt A put the money into four CDs under both our names. I let her do this to secure the nearly half million dollars. In the meantime, she informed me that she was expecting me to contribute to her capital gains tax burden. I agreed and earmarked the largest of the four CDs for that purpose. For the last several months I have gained interest on the four CDs. Three of the CDs have matured, and I am reinvesting two of them in my name. When the third CD matures, I will reinvest that one likewise.
Here's the interesting part. When the fourth CD matured, Aunt A apparently withdrew the money and placed into her own account, ostensibly to have it available for paying the tax in April. However, I no longer gain from the interest on that amount. In fact, I no longer have any records of the dispostion of that money.
In summary, Aunt A gave me about $500,000 per my grandmother's promised bequest and then took back $150,000 of it with which to pay the tax but did not consult with me or save the money under both our names. In effect, she gave with one hand and took back with the other.
I feel cheated. Why was I put on the deed at that last minute without my knowledge? Am I expected to pay part of the capital gains tax on an inheritance? Why am I not collecting interest on money previously given to me? Do I have any legal recourse to gain back money already given to me?
Unfortunately, few of these transactions are in writing. I have only my grandmother's handwritten will that did not go through probate. I also have statements of the four CD deposits with running accounts of their interest until they matured. I have asked my Aunt to inform me of the location of my money from the fourth CD and also asked for an accounting of the interest and the upcoming part of the tax I'm expected to pay. So far, she has not replied.
Should I talk with a lawyer? If so, what type?
Thank you for any advice.
