Sunday, August 2, 2009

If u inherit money, can the power of atterny deny u ur money?

my grandparents have power of atterny of my uncle, and r suppose to make sure that his will gets carried out (sell the land and devide the money w/ the beneficaries). well my uncle died 2 years ago. and my grandparents are in the process of selling the land, but say that because they dont agree with my living habits (i go to college and have a job, but b/c i go to parties and hang out w/ friends on my free time they dont agree) they say they are not going to let me have my inheritance. can they do this???

If u inherit money, can the power of atterny deny u ur money?
Depends on the terms outlined in the will. Most "power of attorney" situations are stipulated to facilitate over the estate until designated recipient reachs xx years of age ('xx' being the years the deceased specified). If they were granted power of attorney for the intended purpose of liquidating assets and then distributing the proceeds as the will stipulates, then no... they cannot without those funds from you. You may have to take them to court to force the terms of the will, however.





In would be much simpler for you to place your partying lifestyle on hold for the time being, and then request them to give you your share of the estate. Cheaper, that way, too!
Reply:I would say no, call an attorney.
Reply:My guess is that your uncle didn't have a will, and therefore there is not much you can do. Most people don't have a will, by brother died without a will, but we probated the estate since there were no problems with people agreeing. I would also recommend that you sit down with your grandparents and see what it is they really don't like about your lifestyle. My guess is they are only looking out for what they view as your best interests. I believe that if there is a will and if you are to inherit something it would cost you most likely more than it is worth. Talk to you Grandparents, they probably won't be so difficult to work with.
Reply:sorry but yeah you don't have a say. Happened to someone I know. His father passed leaving his mother as the executor of the will. He was supposed to get all his property and money except for the house. The house was supposed to be split between the mother and the sister. He went to court with them. The mother had signed her half of the house to the sister and closed all his accounts, the same day they read the will. She sold what she could and then told the court that he didn't have much except for a beat up truck. My bf got the old truck and that was it. The judge went in favor of the mother because she was the sole executor.
Reply:Yes, they can. Legally you should be able to get your money. In practice, you'll never get a judge to side with you.





Good luck wasting your cash on a lawyer.








Howabout you find out what your grandparents would like you to change and consider that they may have a point
Reply:if its in writing that they are subpost to sell the land and divide the money with you then thats what they have to do other wise if they don't you can get a lawyer and make them as long as its what your uncle had in writing .
Reply:Assuming that you are NOT a minor, then no, they can't legally. But that doesn't mean they can't tie up your money and hold up the proceedings. You need your own attorney to protect your rights.
Reply:If you were directly named as a beneficiary, then no they cannot. However it will take several thousand $ on your part to hire a lawyer, my guess is that your grandparents know this, and they decided to follow this course anyway. At best, you spend thousands of $ over a minimum of several months trying to get what your entitled to, and that's all you'll get, what you should have recieved in the first place...





Good luck. My suggestion is that you quit partying and get a second job to pay for the lawyer...
Reply:No, if its in their will, your grandparents can't do a thing about it. Get a lawyer (or threaten that you will if they dont obey and you REALLY dont wanna take this to court) and they'll HAVE to obey. Its federal law. They may be your grandparents, but their not your ruler, Good luck, update me if you can!
Reply:You need to first look at the will. Find out who your uncle appointed to be executor of his estate. That person is charged with carrying out your uncle's wishes through his will. If the executor is not fulfilling his or her duties properly, you may probate the will in court and request that the judge appoint a new administrator. The power of attorney has little meaning after your uncle has died. The will is the controlling document.
Reply:Their authority under the Power of Attorney expired on your Uncle's death.





Whatever authority they have comes from either the Will, or in the absence of a Will, from the state laws of Intestacy.





Under Intestacy, you probably get nothing.





Under the Will, you get exactly what the Will says, assuming the property devised still exists at time of death. It then becomes a question of what it says you get, if it mentions you at all, and if you're not there, you're SOL. If you are mentioned, then you can look for whether or not your GP's are the Executors, and if they are, whether or not it gives them this authority, which it probably does not.





They cannot ignore a devise in a Will based on the recipient's lifestyle, unless the Will specifically gives them that power.





Oh, btw, it also matters how old you are. If you're a minor, they can withhold it until you come of age, but not forever.

online survey

No comments:

Post a Comment