How do we preserve my deceased father's estate when my mother remarries?
My father died last year, leaving a sizeable estate. He handled all the finances, so I took over with power of attorney to handle finances for mom. My mother is now already contemplating remarriage. A pre-nup has been discussed. What needs to be included to preserve the estate for my sister and myself as my father intended?
It depends on what your parents' estate plan says about who controls the property that your father left behind. If he left it all to your mother, then what she does with it is her business, and not yours.
And if you are your mother's financial agent, acting under a power of attorney that she signed, it's your job to carry out her wishes--and you have no real say in what she does with her money and property.
If, however, your parents' estate plan left your father's share of the estate to your mother in trust, which is a common estate plan for married couples, especially those with sizable estates, then it's probable that your father's assets are already slated to go to you and your siblings when your mother dies.
I find it is so frequent that children think whatever assests belong to their parents should automatically belong to them. If father and mother planned a trust, it would state in the trust where the assests are to proceed to if there are other possible circumstances such as re-marriage. If father left everything to mother, then it is up to the mother to make a pre-nup or trust to give what she wants to give to her children or if she wants it to go to her husband. She may want it to go to charity!! I think it is sad when children automatically think whatever belongs to the parents , in the event of their deaths, belongs to them. Greed is the biggest cause of estranged families.
After my husband's death everything went to me. If I choose to remarry someday I can make a trust for my kids. I was wonder what I could do. Thanks so much.
Liza Hanks, Esq. is right, as usual. Everything depends on what your parents' estate indicates about who exactly controls the property that your dad left behind after he died. If your dad left it all to your mother, which he apparently did, then whatever she decides to do with her money and property, inherited from your dad, is her business, and not yours or anyone else. As I see it, at least you can make it your business to see that your mom’s new husband (if she does re-marry) is not able to mess around with all those assets, moving them into his bank account so to speak. Which a lot of step-dads and step-mom’s have been known to do!
I see you as sort of the watchdog here, even though you have no real say so on what your mom actually does with the assets. Then again, if she decides to foolishly allow her new hubby to take over those assets and all your dad’s cash which he obviously left to her and ultimately to you – I suppose there isn’t a lot you can do about it, except try to talk some sense into her head.
And hopefully… there is a strict pre-nup to make sure none of that stuff happens. Interestingly enough, many heirs in your position get paranoid in a situation like this, and many go get a large advance on inheritance as soon as probate is filed… or if it’s all in trust. If the heirs didn’t get a chance to get some of those inheritance assets in advance from the dad, before he died. So they do the next best thing, and apply to one of the better known inheritance advance or inheritance loan companies. They get a inheritance advance rates, or inheritance loan fees, and then apply for as much inheritance money as they can get, usually to get more confidence, and just feel better about everything with some extra cash in their bank account! Especially if their cash flow is low, and they have financial problems.
Worried or financially stressed or generally paranoid heirs with all types of financial problems or personal needs will research Google for a bit, searching established inheritance cash advance companies, inheritance loan companies, and probate loan companies, estate loan or inheritance advance companies – make a decision, and usually to get as large a probate advance or inheritance advance as possible.
Why not go for broke, is how most heirs look at it – after researching and discussing the facts with close friends and an attorney, regarding various inheritance loans, probate loans or trust fund cash advances, or trust fund loans… inheritance cash advance or probate advance assignments… Heirs often totally immerse themselves in the subject of inheritance loans, probate advance funds, probate loans, inheritance advance or estate loans, inheritance cash advance or inheritance loans cash advance assignments… typically getting approved in a few days by an established, boutique niche inheritance advance company such as www.heiradvance.com, or www.inheritanceadvance.com, or www.inheritancenow.com. An established firm like that. I surely hope this inheritance discussion, as well as getting an inheritance cash advance or inheritance advance solution might be helpful to some other heirs or beneficiaries reading these notes… people, heirs, coming to Caring.com for this exact sort of estate information. If knowledge is power… I suppose the more we know about anything like this – the better off we are. Especially if we find ourselves in this sort of position one day. It certainly can’t hurt.
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