Re: Inheritance issues,,

Posted by Hal/WA on June 18, 2007 at 20:04:02 from (66.45.175.118):

In Reply to: Re: Inheritance issues,, posted by John T Country Lawyer on June 16, 2007 at 05:42:24:

Well put. My Mom is 91 and really in pretty good shape. She quit driving a couple of years ago, so that is no longer a worry, and the last land contract she owned finished paying off last year. So she doesn't really own much of anything except for some money in the bank. Luckily she has pretty good income from my Dad's pension.

After my Dad died 14 years ago, my oldest sister began trying to run my Mom's life. She talked Mom into putting her in total charge of her estate (and thought she should be PAID for helping to care for Mom). My sister cancelled the long term care policy I had set up for my Mom and did a bunch of other questionable things that seemed to be only to favor her and not in Mom's best interest. So we talked to Mom's lawyer and with Mom's approval had the will changed so any major decisions concerning Mom or her estate have to be approved by at least 2 of my siblings. My sister of course got mad that she lost total control, but it was worth it. I really think she would have put Mom in a nursing home.

Maybe someday Mom will need to go to a nursing home, but not yet, and not in the forseeable future. We got her a new long term care policy, but instead of it costing about $3000/year, the new one cost over $5000/year, with somewhat lower benefits. But with Mom's income and the LTC policy, if she does need to be in a nursing home, it should be doable. I just could not convince my sister that the insurance was a good deal...

Mom has a fair amount of money, and has been "gifting" $10K per year to her 4 surviving children. Hopefully when she passes, there will not be much left, but whatever there is will be equally divided--I will see to that.

Helping my Mom is some work, but I am glad to be able to do it. I keep accurate records that are in Mom's apartment and urge my siblings to check the records any time they want to--they are accurate, to the penny! And I would never consider accepting anything in payment for helping Mom. I OWE HER more than I could ever repay for all the times she has helped and cared for me. I love my Mom and want the best for her.

It sounds like you are a pretty SMART country lawyer who thinks similarly to what I do. Good luck!

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