posted
Okay so I found out recently that upon turnin 21 I am allegedly to earn 8000$ inheritence, my firist thoughts? "Yippee!" As by then I'm aiming to move out irregardless of my situation, 8,000$ would serve as a good foundation in which to start planning my near future.
However supposedly my grand-aunt supposedly is being rather tight lipped about it, my sister who is older then 21 so far sent a letter asking about it and recieved no reply, we know shes still alive but we do not know if she stole it or keeping it to herself or just holding on to it a little too tightly, I will call her myself tactfully soonish to see if I can rely on it to help support me as I move out, although I am unsure of the tact I should take Should I be friendly? Should I be business like and get straight to the point would it seem rude? Ive never known this woman and only found out about her at the same time as my alledged inheritence, I don't know if I should try to build up a family tie before hand.
posted
You should not try to build up a family tie beforehand, as I don't know how you would be able to live with yourself; that is an ugly activity. At least -- insofar as the tie is a phony act designed only to help you get money.
I don't think we have enough information to give you advice. What does your great-aunt have to do with anything, where did this inheritence come from, and how did you hear about it?
How sure are you that it exists? Are we dealing in facts, or dealing in rumors? If you're dealing in rumors, my advice would be: find out the facts.
When you're dealing in facts, get back to us.
Posts: 2267 | Registered: May 2005
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posted
Don't plan around receiving it. Making important plans around money that isn't actually in your hands is how a lot of people get into really serious financial trouble.
Posts: 4313 | Registered: Sep 2004
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posted
Yup. The best thing you can do is act as though you know nothing about any alleged inheritance.
Posts: 16551 | Registered: Feb 2003
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posted
I'd go with the direct question myself. I also wouldn't be surprised if the whole thing is an ugly rumor.
Posts: 2283 | Registered: Dec 2003
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Blayne Bradley
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posted
No I am in fact owed inheritence for when I am 21 and my great aunt is so far the person in charge of handling it until I am of age, I am using allegedly because this is something I am only recently finding out.
Asking directly about money to a family member just seemed a tad rude to me.
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posted
I suppose it depends on how your family handles money. Mine never made a secret of the trust fund. It's my mom's and when she dies (preferably not for another forty years or so) it goes to me and my sister. I even know about how much is in it. It's no big deal. (Possibly because it's not a lot of money, but there you go.)
I would just ask. "So hey, I've heard there's some kind of inheritance I'll be getting when I'm 21. What's that about?" If the person who told you about it was wrong, the casual manner gives your aunt an easy out. If it's right, she can inform you of the details. And there could easily be details. A friend of my dad's lost out on inheriting like an island or something crazy because he couldn't keep a steady job. Until you see a will, you have no idea what it says.
posted
Point to keep in mind: Generally courts are very stingy about letting murderers profit from their crime. :nods:
Posts: 10645 | Registered: Jul 2004
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Blayne Bradley
unregistered
posted
We have the will around here supposedly I haven't seen it yet, ill ask about it.
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I'm not a lawyer but aren't wills that have been executed and completed probate a matter of public record? I don't know where you'd go to get that information, but you might look into it. Even so, don't plan on having however much money when you are 21. If someone is in charge of handling it until you are 21 then they get to make the decisions on how to invest it until you do get it. With the market being what it currently is, that amount could decrease dramatically before you get your hands on it.
Posts: 1214 | Registered: Aug 2005
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quote:Originally posted by Blayne Bradley: We have the will around here supposedly I haven't seen it yet, ill ask about it.
I'm still confused. So you are saying that in someone's will, you were given money to be given to you at age 21, and your great-aunt in the executor in charge of making sure that happens? Or the great-aunt (who is still living) has you in her will? Or what? if the first, how long ago did this person pass on -- because it takes time to go through probate, etc. and tie up the estate.
Posts: 9538 | Registered: Aug 2003
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posted
If I'm reading this right, he has a sum of money held in trust as an estate gift from someone else. And the great-aunt is either executor of the estate or trustee of the trust created to hold these funds until he is of distribution age.
A couple pieces of advice from a probate secretary:
1. Reaching age 21 is not automatically the trigger to receive the funds. It depends entirely on how the will was written. I commonly write wills with one-third distribution at 21 or 25, another third at 25 or 30, and final at 30 or 35. I rarely write wills with full distribution at age 21.
2. Expect that you will have to submit a written request to the executor for distribution and that you will also have to sign receipt(s) for funds. Your great aunt is going to require documentation proving that you asked for and that she gave you this money because the court system will require it from her.
3. You may have to pay income tax on this money. I suggest you talk to an accountant before you accept the funds so you can plan accordingly.
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