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Could my stepmother be liable for any kind of damages
since she (as conservator of my Dad's estate) failed to
make the last payment on his Irrevocable Life Insurance
Policy and by failing to do what he would have done if able,
caused it's value to deflate by 50%.?
I really hate to think ill of my stepmother but from what
I can ascertain, she systematically got my father to
convert all of his separate property into community
property by getting him to put her name on almost.
everything. According to my Mother and my brother,
he later had regrets about doing that and he purportedly
had plans in the works to try to reverse a lot of it right
before he was stricken by a stroke.
Regarding the matter of the Life Insurance Trust,
initially it was made out to only my brother and myself.
My Dad called up my brother one day and wanted to meet
with him and revealed that he had a trust set up for
my brother and myself and that he wanted to keep it a secret
from my stepmother. Well, somehow, she found out about it
and after the stroke she worked on rehabilitating his ability
to write (or so she claims) and had him sign her two
kids into the trust.
I remember the day clearly once she proclaimed
over the phone how much progress my Dad had made
and how he was beginning to write again. Then not long
after that, the story changed. He supposedly hadn't been
cooperative with his therapy and his ability to write lapsed.
Looking back , this all transpired just around the time he was
purported to have signed it. Now it all seems like such
a scripted little scene. I mean, how convenient for her that
he came back just enough to sign that paperwork for her
before he lapsed.
I find it hard to believe that my Dad
willingly did this since only a month earlier he had confided
in my mom that he was upset with his third wife and wanted
to try to undo some of the previous dealings with her.
I am really suspicious about this woman. She seems nice
enough, but niceness isn't too hard to fake as I have learned
from dealings with other people.
I mean, damn, my Dad had several million in assets, that
she probably is getting through community property and almost
everything else that she got him to affix her name on,
which AFAIKT is just about everything!
Even property that my dad inherited from my grandparents
is going to her.
Wasn't that enough for her? Christ, she had to also worm her
way into the the only thing left that that my dad could gaurantee
that my brother and I are to inherit, the Life Insurance Trust that
he drew up in our names?
Which FWIW was valued at 1 million and
went down to 500,000 since she never made the last payment
while she was the conservator of his estate.
Not to mention the addition of her two kids makes it a 4 way split
instead if the 2 way split my Dad originally intended.
And to top it off, from what my brother is telling me, the
trust will be further reduced if it's cashed in before her death.
And he, as executor, doesn't want to cash it in before then.
And her mom is still living and most of my family dies young
so she'll probably outlive me and I probably won't even see
a dime from My Dad's 3 million which really burns me since
he made alot of his money in real estate and I helped him
with the renovation of many of the fixer-uppers that
he built his wealth with !
A very disgruntled
Perry Mason )`:
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Could my stepmother be liable for any kind of damages
since she (as conservator of my Dad's estate) failed to
make the last payment on his Irrevocable Life Insurance
Policy and by failing to do what he would have done if able,
caused it's value to deflate by 50%.?
I really hate to think ill of my stepmother but from what
I can ascertain, she systematically got my father to
convert all of his separate property into community
property by getting him to put her name on almost.
everything. According to my Mother and my brother,
he later had regrets about doing that and he purportedly
had plans in the works to try to reverse a lot of it right
before he was stricken by a stroke.
Regarding the matter of the Life Insurance Trust,
initially it was made out to only my brother and myself.
My Dad called up my brother one day and wanted to meet
with him and revealed that he had a trust set up for
my brother and myself and that he wanted to keep it a secret
from my stepmother. Well, somehow, she found out about it
and after the stroke she worked on rehabilitating his ability
to write (or so she claims) and had him sign her two
kids into the trust.
I remember the day clearly once she proclaimed
over the phone how much progress my Dad had made
and how he was beginning to write again. Then not long
after that, the story changed. He supposedly hadn't been
cooperative with his therapy and his ability to write lapsed.
Looking back , this all transpired just around the time he was
purported to have signed it. Now it all seems like such
a scripted little scene. I mean, how convenient for her that
he came back just enough to sign that paperwork for her
before he lapsed.
I find it hard to believe that my Dad
willingly did this since only a month earlier he had confided
in my mom that he was upset with his third wife and wanted
to try to undo some of the previous dealings with her.
I am really suspicious about this woman. She seems nice
enough, but niceness isn't too hard to fake as I have learned
from dealings with other people.
I mean, damn, my Dad had several million in assets, that
she probably is getting through community property and almost
everything else that she got him to affix her name on,
which AFAIKT is just about everything!
Even property that my dad inherited from my grandparents
is going to her.
Wasn't that enough for her? Christ, she had to also worm her
way into the the only thing left that that my dad could gaurantee
that my brother and I are to inherit, the Life Insurance Trust that
he drew up in our names?
Which FWIW was valued at 1 million and
went down to 500,000 since she never made the last payment
while she was the conservator of his estate.
Not to mention the addition of her two kids makes it a 4 way split
instead if the 2 way split my Dad originally intended.
And to top it off, from what my brother is telling me, the
trust will be further reduced if it's cashed in before her death.
And he, as executor, doesn't want to cash it in before then.
And her mom is still living and most of my family dies young
so she'll probably outlive me and I probably won't even see
a dime from My Dad's 3 million which really burns me since
he made alot of his money in real estate and I helped him
with the renovation of many of the fixer-uppers that
he built his wealth with !
Very touching. I especially liked this part: "I probably won't even see a
dime from My Dad's 3 million." Really quite moving. Perhaps if you had
visited your father while he was dying he might have included you in his
will and you wouldn't have to spend your time whinging to strangers on the
interwebs about how you're being cheated by your stepmother. She really
sounds quite wicked. Too bad your name's not Snow White, you could feed her
a poison apple and live happily ever after on your dad's dime. Oh well.
There's a silver lining though: the next time a loved one such as your
father is dying and this loved one has a bit of cash that you want your fair
share of when they snuff it I'll bet you make arrangements to go visit
instead of making lame excuses instead. Good luck.
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"foad" <ooo@ooo.org> wrote in message news:2f_Pj.6815$nb4.5652@trnddc08...
Very touching. I especially liked this part: "I probably won't even see a
dime from My Dad's 3 million." Really quite moving. Perhaps if you had
visited your father while he was dying he might have included you in his
will and you wouldn't have to spend your time whinging to strangers on the
interwebs about how you're being cheated by your stepmother. She really
sounds quite wicked. Too bad your name's not Snow White, you could feed
her a poison apple and live happily ever after on your dad's dime. Oh
well. There's a silver lining though: the next time a loved one such as
your father is dying and this loved one has a bit of cash that you want
your fair share of when they snuff it I'll bet you make arrangements to go
visit instead of making lame excuses instead. Good luck.
Give it a rest, foad. Your nastiness stopped being cute a long time ago.
People can ask law questions without meeting your standards of niceness.
Which standards, by the way, you cannot claim to meet.
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Could my stepmother be liable for any kind of damages
since she (as conservator of my Dad's estate) failed to
make the last payment on his Irrevocable Life Insurance
Policy and by failing to do what he would have done if able,
caused it's value to deflate by 50%.?
I really hate to think ill of my stepmother but from what
I can ascertain, she systematically got my father to
convert all of his separate property into community
property by getting him to put her name on almost.
everything. According to my Mother and my brother,
he later had regrets about doing that and he purportedly
had plans in the works to try to reverse a lot of it right
before he was stricken by a stroke.
Regarding the matter of the Life Insurance Trust,
initially it was made out to only my brother and myself.
My Dad called up my brother one day and wanted to meet
with him and revealed that he had a trust set up for
my brother and myself and that he wanted to keep it a secret
from my stepmother. Well, somehow, she found out about it
and after the stroke she worked on rehabilitating his ability
to write (or so she claims) and had him sign her two
kids into the trust.
I remember the day clearly once she proclaimed
over the phone how much progress my Dad had made
and how he was beginning to write again. Then not long
after that, the story changed. He supposedly hadn't been
cooperative with his therapy and his ability to write lapsed.
Looking back , this all transpired just around the time he was
purported to have signed it. Now it all seems like such
a scripted little scene. I mean, how convenient for her that
he came back just enough to sign that paperwork for her
before he lapsed.
I find it hard to believe that my Dad
willingly did this since only a month earlier he had confided
in my mom that he was upset with his third wife and wanted
to try to undo some of the previous dealings with her.
I am really suspicious about this woman. She seems nice
enough, but niceness isn't too hard to fake as I have learned
from dealings with other people.
I mean, damn, my Dad had several million in assets, that
she probably is getting through community property and almost
everything else that she got him to affix her name on,
which AFAIKT is just about everything!
Even property that my dad inherited from my grandparents
is going to her.
Wasn't that enough for her? Christ, she had to also worm her
way into the the only thing left that that my dad could gaurantee
that my brother and I are to inherit, the Life Insurance Trust that
he drew up in our names?
Which FWIW was valued at 1 million and
went down to 500,000 since she never made the last payment
while she was the conservator of his estate.
Not to mention the addition of her two kids makes it a 4 way split
instead if the 2 way split my Dad originally intended.
And to top it off, from what my brother is telling me, the
trust will be further reduced if it's cashed in before her death.
And he, as executor, doesn't want to cash it in before then.
And her mom is still living and most of my family dies young
so she'll probably outlive me and I probably won't even see
a dime from My Dad's 3 million which really burns me since
he made alot of his money in real estate and I helped him
with the renovation of many of the fixer-uppers that
he built his wealth with !
I'm not an expert in this area. My uninformed guess is that since your
father had the right to stop paying on his life insurance, and since ceasing
those payments is good for the financial well-being of your father, the
conservator cannot be held liable for not making the payment.
If you can prove that the signature on the amendment to the trust is a
forgery (using expert witnesses) you can get her removed as conservator and
the court can hold her liable for any other embezzlement. That might be
hard to prove if his signature is so shaky that it does not resemble his
signature in his younger years. But still, if the only witness to the
signature is the mother of the new beneficiaries, the court might rule that
the signature cannot be validated. You might want to hold off filing suit
over this while your father is alive. That is a strategy decision that I
cannot advise on, not being in that field. You need a probate litigation
attorney to advise on that point. Your brother is not the executor yet.
There is no executor because no court has appointed an executor. That
cannot be done until a probate petition is filed and that can't happen while
your father is alive. Your brother is the nominated executor, which means
nothing while your father is alive.
Your best move is to get busy and make your own millions and don't count on
seeing any of your father's estate. But while you are doing that, you could
be putting a probate litigation attorney to work analyzing the situation.
This answer must not be relied on as legal advice for the reasons posted
here: http://mcgyverdisclaimer.blogspot.com . And I am not your attorney.
McGyver
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Perry,
It sounds as if your mother is having a good time jerking your chain,
I'm not sure you should be listening to her. But you seem to be unable to
travel and the estate seems to be large, so get on the phone and start
interviewing lawyers. A lawyer should be able to find the insurance company
and see if you have any money coming. A lawyer can figure out whether your
father's wife had some legal obligation to pay his bills while he was alive.
A lawyer can find out what's going on with the will and probate. A lawyer
can figure out if there is a trust and whether you are a beneficiary. Et c.
I like Mr. Foad, he makes me seem pleasant.
Good luck,
Dave M.
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Could my stepmother be liable for any kind of damages
since she (as conservator of my Dad's estate) failed to
make the last payment on his Irrevocable Life Insurance
Policy and by failing to do what he would have done if able,
caused it's value to deflate by 50%.?
I really hate to think ill of my stepmother but from what
I can ascertain, she systematically got my father to
convert all of his separate property into community
property by getting him to put her name on almost.
everything. According to my Mother and my brother,
he later had regrets about doing that and he purportedly
had plans in the works to try to reverse a lot of it right
before he was stricken by a stroke.
Regarding the matter of the Life Insurance Trust,
initially it was made out to only my brother and myself.
My Dad called up my brother one day and wanted to meet
with him and revealed that he had a trust set up for
my brother and myself and that he wanted to keep it a secret
from my stepmother. Well, somehow, she found out about it
and after the stroke she worked on rehabilitating his ability
to write (or so she claims) and had him sign her two
kids into the trust.
I remember the day clearly once she proclaimed
over the phone how much progress my Dad had made
and how he was beginning to write again. Then not long
after that, the story changed. He supposedly hadn't been
cooperative with his therapy and his ability to write lapsed.
Looking back , this all transpired just around the time he was
purported to have signed it. Now it all seems like such
a scripted little scene. I mean, how convenient for her that
he came back just enough to sign that paperwork for her
before he lapsed.
I find it hard to believe that my Dad
willingly did this since only a month earlier he had confided
in my mom that he was upset with his third wife and wanted
to try to undo some of the previous dealings with her.
I am really suspicious about this woman. She seems nice
enough, but niceness isn't too hard to fake as I have learned
from dealings with other people.
I mean, damn, my Dad had several million in assets, that
she probably is getting through community property and almost
everything else that she got him to affix her name on,
which AFAIKT is just about everything!
Even property that my dad inherited from my grandparents
is going to her.
Wasn't that enough for her? Christ, she had to also worm her
way into the the only thing left that that my dad could gaurantee
that my brother and I are to inherit, the Life Insurance Trust that
he drew up in our names?
Which FWIW was valued at 1 million and
went down to 500,000 since she never made the last payment
while she was the conservator of his estate.
Not to mention the addition of her two kids makes it a 4 way split
instead if the 2 way split my Dad originally intended.
And to top it off, from what my brother is telling me, the
trust will be further reduced if it's cashed in before her death.
And he, as executor, doesn't want to cash it in before then.
And her mom is still living and most of my family dies young
so she'll probably outlive me and I probably won't even see
a dime from My Dad's 3 million which really burns me since
he made alot of his money in real estate and I helped him
with the renovation of many of the fixer-uppers that
he built his wealth with !
Here is a revision of my answer, revised to account for the fact that your
father died. That fact was in your other thread and I didn't notice your
name before answering.
I'm not an expert in this area. My uninformed guess is that since your
father had the right to stop paying on his life insurance, and since ceasing
those payments is good for the financial well-being of your father while he
was alive, the conservator cannot be held liable for not making the payment.
If you can prove that the signature on the amendment to the trust is a
forgery (using expert witnesses) you can get the trust administered as if
the change had not occurred. That might be hard to prove if his signature
was so shaky that it does not resemble his signature in his younger years.
But still, if the only witness to the signature is the mother of the new
beneficiaries, the court might rule that the signature cannot be validated.
If your brother is the executor appointed by the court, it is up to him to
carry the ball on this. If he won't do it, you should hire your own probate
litigation attorney.
This answer must not be relied on as legal advice for the reasons posted
here: http://mcgyverdisclaimer.blogspot.com . And I am not your attorney.
McGyver
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"foad" <ooo@ooo.org> wrote in message news:2f_Pj.6815$nb4.5652@trnddc08...
Give it a rest, foad. Your nastiness stopped being cute a long time ago.
People can ask law questions without meeting your standards of niceness.
Which standards, by the way, you cannot claim to meet.
That's one option. A second is that I do whatever the @$#* I want and if you
don't like it you can go @$#* yourself.
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FOAD
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"foad" <ooo@ooo.org> wrote in message news:Nz3Qj.6871$i45.3387@trndny01...
:: "McGyver" <Greyprof@msn.com> wrote in message
: news:wU2Qj.6020$Ux4.2527@trnddc07...
: > "foad" <ooo@ooo.org> wrote in message news:2f_Pj.6815$nb4.5652@trnddc08...
: >>
: >>> Could my stepmother be liable for any kind of damages
: >>> since she (as conservator of my Dad's estate) failed to
: >>> make the last payment on his Irrevocable Life Insurance
: >>> Policy and by failing to do what he would have done if able,
: >>> caused it's value to deflate by 50%.?
: >>>
: >>> I really hate to think ill of my stepmother but from what
: >>> I can ascertain, she systematically got my father to
: >>> convert all of his separate property into community
: >>> property by getting him to put her name on almost.
: >>> everything. According to my Mother and my brother,
: >>> he later had regrets about doing that and he purportedly
: >>> had plans in the works to try to reverse a lot of it right
: >>> before he was stricken by a stroke.
: >>>
: >>>
: >>> Regarding the matter of the Life Insurance Trust,
: >>> initially it was made out to only my brother and myself.
: >>> My Dad called up my brother one day and wanted to meet
: >>> with him and revealed that he had a trust set up for
: >>> my brother and myself and that he wanted to keep it a secret
: >>> from my stepmother. Well, somehow, she found out about it
: >>> and after the stroke she worked on rehabilitating his ability
: >>> to write (or so she claims) and had him sign her two
: >>> kids into the trust.
: >>>
: >>>
: >>> I remember the day clearly once she proclaimed
: >>> over the phone how much progress my Dad had made
: >>> and how he was beginning to write again. Then not long
: >>> after that, the story changed. He supposedly hadn't been
: >>> cooperative with his therapy and his ability to write lapsed.
: >>> Looking back , this all transpired just around the time he was
: >>> purported to have signed it. Now it all seems like such
: >>> a scripted little scene. I mean, how convenient for her that
: >>> he came back just enough to sign that paperwork for her
: >>> before he lapsed.
: >>>
: >>>
: >>> I find it hard to believe that my Dad
: >>> willingly did this since only a month earlier he had confided
: >>> in my mom that he was upset with his third wife and wanted
: >>> to try to undo some of the previous dealings with her.
: >>> I am really suspicious about this woman. She seems nice
: >>> enough, but niceness isn't too hard to fake as I have learned
: >>> from dealings with other people.
: >>>
: >>> I mean, damn, my Dad had several million in assets, that
: >>> she probably is getting through community property and almost
: >>> everything else that she got him to affix her name on,
: >>> which AFAIKT is just about everything!
: >>> Even property that my dad inherited from my grandparents
: >>> is going to her.
: >>>
: >>> Wasn't that enough for her? Christ, she had to also worm her
: >>> way into the the only thing left that that my dad could gaurantee
: >>> that my brother and I are to inherit, the Life Insurance Trust that
: >>> he drew up in our names?
: >>>
: >>> Which FWIW was valued at 1 million and
: >>> went down to 500,000 since she never made the last payment
: >>> while she was the conservator of his estate.
: >>> Not to mention the addition of her two kids makes it a 4 way split
: >>> instead if the 2 way split my Dad originally intended.
: >>>
: >>>
: >>> And to top it off, from what my brother is telling me, the
: >>> trust will be further reduced if it's cashed in before her death.
: >>> And he, as executor, doesn't want to cash it in before then.
: >>> And her mom is still living and most of my family dies young
: >>> so she'll probably outlive me and I probably won't even see
: >>> a dime from My Dad's 3 million which really burns me since
: >>> he made alot of his money in real estate and I helped him
: >>> with the renovation of many of the fixer-uppers that
: >>> he built his wealth with !
: >>
: >> Very touching. I especially liked this part: "I probably won't even see a
: >> dime from My Dad's 3 million." Really quite moving. Perhaps if you had
: >> visited your father while he was dying he might have included you in his
: >> will and you wouldn't have to spend your time whinging to strangers on
: >> the interwebs about how you're being cheated by your stepmother. She
: >> really sounds quite wicked. Too bad your name's not Snow White, you could
: >> feed her a poison apple and live happily ever after on your dad's dime.
: >> Oh well. There's a silver lining though: the next time a loved one such
: >> as your father is dying and this loved one has a bit of cash that you
: >> want your fair share of when they snuff it I'll bet you make arrangements
: >> to go visit instead of making lame excuses instead. Good luck.
: >
: > Give it a rest, foad. Your nastiness stopped being cute a long time ago.
: > People can ask law questions without meeting your standards of niceness.
: > Which standards, by the way, you cannot claim to meet.
:: That's one option. A second is that I do whatever the @$#* I want and if you
: don't like it you can go @$#* yourself.
That's your attitude, and you're critical of mine ?
beat it troll
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The trust was irrevocable, right? If so, how did your father change
anything about it? An ILIT requires a trustee that is not the grantor
to act in the best interest of the beneficiaries. Your father gave up
the power to make changes when he created an ILIT.
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"kastnna" <kastnna@auburnalum.org> wrote in message news:8a783706-44d4-46cb-9809-27b354a3db5f@24g2000hsh.googlegroups.com...
: The trust was irrevocable, right?
: If so, how did your father change
: anything about it? An ILIT requires a trustee that is not the grantor
: to act in the best interest of the beneficiaries. Your father gave up
: the power to make changes when he created an ILIT.
Interesting point.
I may well be wrong in thinking it was an "irrevocable" trust
Come to think of it, I haven't really ever heard anyone who knows
what it is refer to it as an *Irrevocable* Life Insurance Trust.
My birth mother talked about a Life Insurance Policy that my
brother had. When I talked to him, he called it a trust. Then from
my research I concluded that it must be an irrevocable Life Insurance
Trust since that would seem the intelligent way to go if one had a lot
of money and decided that they wanted to guarantee a very
small part of it goes to his birth heirs, which is supposedly why
my Dad dre up the policy.
My apologies. It's hard to explain just exactly what it is since
the one person who can really tell me just exactly what it is
won't reveal much.
I finally got my birth mother to make my brother promise to send me
a copy. I hope to know the details better when the copies arrive.
Perhaps I'll re-post on this matter when I know more
Thanks for taking the time
to reply Perry ;-)
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"David L. Martel" <marte005@earthlink.net> wrote in message news:_JGdnR69mOuMXY3VnZ2dnUVZ_ramnZ2d@earthlink.com...
: Perry,
:: It sounds as if your mother is having a good time jerking your chain,
I guess it might seem like that, but she never revealed any of this until
I started plying her for information. my Mom really is a sweet person
and not a malicious sort.
: I'm not sure you should be listening to her.
I try to be open minded and I take everything with a grain of salt,
but there's more to this story.
Over the years my Dad has lent me a little money here and there.
he lent me $100 to purchase a software devlopment program for
C and C++ I paid him back within a year
He lent my wife and I $2,500 to help with the downpayment on
our house. We paid him back within a year.
He lent me $300 to purchase a DSP development system.
I paid him back within a year.
Ok, so as you can see,
my Dad never really lent me all that much money and
I always paid him back.
Then;
One day I get an email from my step-mother saying that things are
tight with her and my Dad and that I shouldn't ask to borrow
any money. Well actually, I didn't have any intention of asking to
borrow any money for quite awhile, but she got me worried about
my Dad and I told him about her email to me.
He told me that
what she said simply wasn't true and quite the opposite, they
were doing just fine. He even told me that if I wanted to borrow
money, I should feel free to do so and that if I wanted to borrow
some money and not pay him back, that was fine because my
brother and his kids had outstanding loans with him and had
never repaid him and he didn't expect that they ever would.
Well, I never took him up on this offer since I don't like to
borrow money unless I feel I really need to or unless it's for
something progressive like an education or career oriented goal.
Now I almost feel like a fool for not taking his offer since
I think he may have been looking for a way to hand me some
money that could survive the scrutiny of his 3'rd wife, my
step-mom.
On another occasion, my step-mom cornered me and tried
to make it clear to me that everything that was ever going to
be due to me was setteled when my Dad divorced my Mom.
She just came up with this out of the blue. I never had ever even
mentioned anything to her or my Dad about inheritance or anything
to bring that on.
Well, this was entirely untrue as I have just recently come to understand,
since there is the matter of *separate* property of which he had
plenty when he married her and plenty of at the time when she told
me this. So now it occurs/appears to me that she had
every intention of having all of his property converted to community
property and knew well in advance that things were going to end
up this way. And, with that little remark she was prepping me for the day
when both I and my brother were to find out that she had everything
converted to community property.
It's called 20/20 hindsight I reckon.
But what can one do, ethical and legal are not necessarily the same.
: But you seem to be unable to
: travel and the estate seems to be large, so get on the phone and start
: interviewing lawyers. A lawyer should be able to find the insurance company
: and see if you have any money coming. A lawyer can figure out whether your
: father's wife had some legal obligation to pay his bills while he was alive.
: A lawyer can find out what's going on with the will and probate. A lawyer
: can figure out if there is a trust and whether you are a beneficiary. Et c.
: I like Mr. Foad, he makes me seem pleasant.
:: Good luck,
: Dave M.
Sunny disposition, that one :-)
Thanks a lot for taking the time to help me.
Perry Mason (yeah right!)
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"foad" <ooo@ooo.org> wrote in message news:Nz3Qj.6871$i45.3387@trndny01...
:
: >>
: >>> Could my stepmother be liable for any kind of damages
: >>> since she (as conservator of my Dad's estate) failed to
: >>> make the last payment on his Irrevocable Life Insurance
: >>> Policy and by failing to do what he would have done if able,
: >>> caused it's value to deflate by 50%.?
: >>>
: >>> I really hate to think ill of my stepmother but from what
: >>> I can ascertain, she systematically got my father to
: >>> convert all of his separate property into community
: >>> property by getting him to put her name on almost.
: >>> everything. According to my Mother and my brother,
: >>> he later had regrets about doing that and he purportedly
: >>> had plans in the works to try to reverse a lot of it right
: >>> before he was stricken by a stroke.
: >>>
: >>>
: >>> Regarding the matter of the Life Insurance Trust,
: >>> initially it was made out to only my brother and myself.
: >>> My Dad called up my brother one day and wanted to meet
: >>> with him and revealed that he had a trust set up for
: >>> my brother and myself and that he wanted to keep it a secret
: >>> from my stepmother. Well, somehow, she found out about it
: >>> and after the stroke she worked on rehabilitating his ability
: >>> to write (or so she claims) and had him sign her two
: >>> kids into the trust.
: >>>
: >>>
: >>> I remember the day clearly once she proclaimed
: >>> over the phone how much progress my Dad had made
: >>> and how he was beginning to write again. Then not long
: >>> after that, the story changed. He supposedly hadn't been
: >>> cooperative with his therapy and his ability to write lapsed.
: >>> Looking back , this all transpired just around the time he was
: >>> purported to have signed it. Now it all seems like such
: >>> a scripted little scene. I mean, how convenient for her that
: >>> he came back just enough to sign that paperwork for her
: >>> before he lapsed.
: >>>
: >>>
: >>> I find it hard to believe that my Dad
: >>> willingly did this since only a month earlier he had confided
: >>> in my mom that he was upset with his third wife and wanted
: >>> to try to undo some of the previous dealings with her.
: >>> I am really suspicious about this woman. She seems nice
: >>> enough, but niceness isn't too hard to fake as I have learned
: >>> from dealings with other people.
: >>>
: >>> I mean, damn, my Dad had several million in assets, that
: >>> she probably is getting through community property and almost
: >>> everything else that she got him to affix her name on,
: >>> which AFAIKT is just about everything!
: >>> Even property that my dad inherited from my grandparents
: >>> is going to her.
: >>>
: >>> Wasn't that enough for her? Christ, she had to also worm her
: >>> way into the the only thing left that that my dad could gaurantee
: >>> that my brother and I are to inherit, the Life Insurance Trust that
: >>> he drew up in our names?
: >>>
: >>> Which FWIW was valued at 1 million and
: >>> went down to 500,000 since she never made the last payment
: >>> while she was the conservator of his estate.
: >>> Not to mention the addition of her two kids makes it a 4 way split
: >>> instead if the 2 way split my Dad originally intended.
: >>>
: >>>
: >>> And to top it off, from what my brother is telling me, the
: >>> trust will be further reduced if it's cashed in before her death.
: >>> And he, as executor, doesn't want to cash it in before then.
: >>> And her mom is still living and most of my family dies young
: >>> so she'll probably outlive me and I probably won't even see
: >>> a dime from My Dad's 3 million which really burns me since
: >>> he made alot of his money in real estate and I helped him
: >>> with the renovation of many of the fixer-uppers that
: >>> he built his wealth with !
: >>
: >> Very touching. I especially liked this part: "I probably won't even
see a
: >> dime from My Dad's 3 million." Really quite moving. Perhaps if you
had
: >> visited your father while he was dying he might have included you in
his
: >> will and you wouldn't have to spend your time whinging to strangers
on
: >> the interwebs about how you're being cheated by your stepmother. She
: >> really sounds quite wicked. Too bad your name's not Snow White, you
could
: >> feed her a poison apple and live happily ever after on your dad's
dime.
: >> Oh well. There's a silver lining though: the next time a loved one
such
: >> as your father is dying and this loved one has a bit of cash that you
: >> want your fair share of when they snuff it I'll bet you make
arrangements
: >> to go visit instead of making lame excuses instead. Good luck.
: >
: > Give it a rest, foad. Your nastiness stopped being cute a long time
ago.
: > People can ask law questions without meeting your standards of
niceness.
: > Which standards, by the way, you cannot claim to meet.
:
: That's one option. A second is that I do whatever the @$#* I want and if
you
: don't like it you can go @$#* yourself.
That's your attitude, and you're critical of mine ?
beat it troll
That's troll, esq., to you.
Have fun suing your family, I'm sure that's what your poor dead daddy would
have wanted.
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On Apr 24, 7:08=A0pm, " Perry Mason" <nos...@nospam.net> wrote:
"kastnna" <kast...@auburnalum.org> wrote in messagenews:8a783706-44d4-46cb=
-9809-27b354a3db5f@24g2000hsh.googlegroups.com...
: The trust was irrevocable, right?
: If so, how did your father change
: anything about it? An ILIT requires a trustee that is not the grantor
: to act in the best interest of the beneficiaries. Your father gave up
: the power to make changes when he created an ILIT.
Interesting point.
I may well be wrong in thinking it was an "irrevocable" trust
Come to think of it, I haven't really ever heard anyone who knows
what it is refer to it as an *Irrevocable* Life Insurance Trust.
If it was your Father's intention to "rule from the grave" and avoid
probate, the he likely created a revocable living trust. But if his
primary goal was to reduce estate taxes by moving assets out of his
name, it is almost assuredly an Irrevocable trust (an ILIT in the case
of insurance).
This is a crucial detail that you will need to square away before
moving forward.
Good luck in getting this all sorted out.
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