Not included in will-please help!

[honeybrook]

state: Ga

I am the youngest of 3 children. My parents made a will before I was born. After I was born my parents made the middle child the chief executor of the will and said (verbally) that all money from insurance policies should be used for my education. I have since finished school but I have tons of loans. My parents own 2 homes, one which my brother lives in with my grandma and the other that my parents live in, my older sister (executor) lives in with them. Even though I was not included in the will, will I be able to get a third of everything even though siblings are currently residing in the two homes or would I be able to get everything to pay off my loans? Thanks!

 

[Some Random Guy]

From your post, it would seem that your parents are still alive. Methinks you are counting your chickens before they are hatched.

Life insurance proceeds are not part of the estate. They go directly to the named beneficiary. Answers to your other questions depend on the exact language of the wills, any codicils, the names on the deeds for the houses, and any life estates or other contracts that have been drawn up.

 

[pojo2]

Life insurance proceeds are not part of the estate. They go directly to the named beneficiary.

And hopefully they have not stopped at each other as the only beneficiary of those policies.

They ain't dead yet and life can sometimes eat up assets and then the one might just surprise you and out live the other for another decade or two. Stop dividing up things that don't and may never belong to you !

 

[honeybrook]

Reply

They are both still alive but are both invalid- I am their sole care provider and pay for their medications as well as their hospital bills and any other bill that may arise. I am not counting my chickens- but considering that I am the only one with the financial resources to pay for their final expenses. I would hate to see after them and then the other two siblings inherit all that they have is all...

 

[honeybrook]

age

If it helps, they are both in their late 70's and I am in my 20's and pretty ignorant when it comes to legal matters, I care for my parents very much and am not just chasing money- but I do feel that since I am the primary care provider I deserve at least 1/3- equal to my other siblings- which will probably only cover their final expenses.

 

[nextwife]

First, THEIR assets should be used to pay for their care and medicine, not yours. AS a parent, I sure DON'T expect my kid to pay out of her pocket for my meds (when the time comes) when I saved all my life to have money to cover such needs.

A child born after the will can challenge it, anyway. Living in a given house by a sibling does NOT vest them with any greater ownership rights to yopur parent's property.

 

[nextwife]

First, THEIR assets should be used to pay for their care and medicine, not yours. AS a parent, I sure DON'T expect my kid to pay out of her pocket for my meds (when the time comes) when I saved all my life to have money to cover such needs.

A child born after the creation of a will can challenge it, anyway. Living in a given house by a sibling does NOT vest them with any greater ownership rights to your parent's property.

How about bringing in an estate planning attorney for your parents to meet with (privately without you in the room) to review and bring up to date their wills, presuming they are mentally competant?

 

[lwpat]

How about bringing in an estate planning attorney for your parents to meet with (privately without you in the room) to review and bring up to date their wills, presuming they are mentally competant?

This needs to be done ASAP as there are other issues such as a living will, POA's etc. that also need to be done while they are still able. If you don't, expect a lot of trouble later on as you try to take care of them.