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Author: reatta93 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5741  
Subject: Distributions or lack thereof Date: 2/16/2003 10:07 PM
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Hello. I hope some of the great minds on this board can help me out.

I am the executor of my aunt's estate. She is still living. She lives alone (and will not entertain any discussion as to moving) and rarely drives. She said she has nursing home insurance and when the time come she will move and not sooner. Yet when we ask to check out the policy she says she doesn't have time to retrieve it. She has told me in the past that in her will she has bequests (which are modest) to neighbors and friends who have helped her out. She has also put people's names on all EE Bonds and all her accounts but 2. Now she says that she is going to leave a substantial 5 figure amount to a certain entity. She lives on the family farm and her interest in the property will be left to her sister. She has never married. Sometimes it is hard to talk to her as she refuses to deal with reality and and her standard pat answer is things always work out in the end.

Am I correct in assuming

1. Accounts with other people's names will be distributed to them, including her checking account.

2. Funeral expenses, medical bills if any, final bills, taxes, probate costs and monetary bequests mentioned in the will come out of the 2 accounts that only has her name on it.

3. The new large bequest comes from the 2 solo accounts also. Should she end up in an assisted care/nursing home and the policy pays little or next to nothing, and with the payouts from paragraph 2 above, there will be insufficient funds to pay the large bequest. Does that entity get whatever is left? I am afraid they will demand the full amount mentioned in the codicile. Can they do this?


reatta
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