Legal right on money gift

[not2cleverRed]

OK, it's me obviously. I am telling the truth, and it causes me a lot of stress because I am a compassionate person. I have been thinking about giving my sibliing half if they really need it.. but I also really need it, probably more.. I'm just kind of seeing how things go. I was at the Probate lawyer today and he asked me if there was anymore money anywhere.. and I started feeling guilty about this 'secret' ..and unfortunately he must have seen that because he was suddenly was really cold and unfriendly and probably suspected something. Every question he asked me he scanned me like a hawk, it was very uncomfortable even though I am honest. I suppose in hindsight, if the account was not solely in my father's name, then he cannot do anything about it, like you said. Since I had co-ownership, it cannot be probated. Thank you so much .

I am sorry for your loss.

But don't be a doormat for your sibling.

And you need to stop feeling so guilty.

 

[RedBlazer]

Honestly, if the administrator distributed the money from the other account that was there after the death of your father (for which you were the co-owner), then I would make a demand for the money to be handed over to you. The estate has no legal claim to it, nor does brother have the authority under the POA to withdraw the money, since the POA was terminated at the moment of your father's death.

I see... interesting. I sure am learning lots here.. By administrator, do you mean my brother?

 

[RedBlazer]

No. There was more than a "verbal agreement" because both names were on the account. Whatever the intent of the father, the account was set up with the name of one child on it and not the others. Therefore the whole kit and kaboodle goes to the person whose name is on the account.



Exactly. See post #2.

Dad could have had 2 accounts, each coowned by a different child. I've known people who have done that.

The other sibling can be told to pound sand. They have no rights to that money, no fraud has been perpetrated.

Okay thank you so much.! I wish I would have posted sooner! I feel so much relief.

 

[LdiJ]

I see... interesting. I sure am learning lots here.. By administrator, do you mean my brother?

If your brother was the one appointed to be the administrator, yes.

 

[Zigner]

This only child that got the money from his father, ALSO was a co-owner with his father, on another account in another bank. The child had also Power of Attorney so that they were able to help do all of father's banking.

Is this "child" YOU?

 

[RedBlazer]

It doesn't matter if the lawyer finds it, because it's not part of the estate. The child is not a thief because it's the child's money, free and clear. Whether or not the child is a liar overall isn't really something I could comment on, but the child is free to tell or not to tell - it's his money now and not part of the estate.

It is possible that if the lawyer does find this account and sees it was co-owned by both me and my father, that he will mention it to my brother ? That will be the end of it.

 

[Zigner]

It is possible that if the lawyer does find this account and sees it was co-owned by both me and my father, that he will mention it to my brother ? That will be the end of it.

You could simply acknowledge it and end all this worry over what "might" happen.

 

[RedBlazer]

And, again, you might look in to recovering the money in the other account for which you were co-owner. Of course, you can always just let it go so as not to rock the boat. You don't need to feel guilty. If the attorney asked if your dad had any other money, you honestly answered "No", because it became your money upon his death.

Yes that is all correct.. Thank God.

 

[Zigner]

Who is the administrator (sometimes called "executor") of your dad's estate?

 

[adjusterjack]

I wonder why he gave me such a cold shoulder

Because he's representing the estate and not representing you.

You could have just told him there was a joint account between you and your father and you were entitled to the money and got it.

 

[RedBlazer]

If you were on the account, then it was your money just as much as it was your father's. In fact, you didn't even need to present the death certificate to get the money if you were a co-owner of the account. The money passed outside of your father's estate, and your brother is not legally entitled to a share of the money.

Edit to add: I should have read the entire thread before responding. You already got the correct answer.

Thank you so much.. hahaha I am near tears it's just so stressful

 

[LdiJ]

Because he's representing the estate and not representing you.

You could have just told him there was a joint account between you and your father and you were entitled to the money and got it.

The OP could have, but it really wasn't any of the lawyer's business.

 

[RedBlazer]

Who is the administrator (sometimes called "executor") of your dad's estate?

Both my brother and I

 

[RedBlazer]

Is this "child" YOU?

Yes correct

 

[LdiJ]

Thank you so much.. hahaha I am near tears it's just so stressful

Why is it so stressful. As you have been told over and over its legally your money. You have done nothing even remotely wrong.