Half of his estate (minus personal property) goes to our mother, and half goes to me.
My mother is to be the trustee.
Lastly, do you have any advice on what to do with the money itself?
These are thebiggest money secrets rich people don’t tell you.
I dont think inheritance can be put in a 401(k), though.
What other options are there?
Sharing your inheritance with your sister falls into that category.
As the beneficiary, youre entitled to regular financial statements.
If your mother fails to provide the requested statements, you might send her a letter of demand.
You could also sue her personally for breaching her fiduciary duty.
Your Email AddressSend Your Question
DISCLAIMER: Questions will appear in The Penny Hoarders Dear Penny column.
We are unable to answer every letter.
We reserve the right to edit and publish your questions.
But dont worry your identity will remain anonymous.
Thank you for your question!
Your willingness to share your story might help others facing similar challenges.
While we cant publish every question we receive, we appreciate you sharing your question with us.
Youd just need to tell the IRS about it.
Youll be on the hook for the tax bill since youre the trusts beneficiary.
7 Ways to Make Money if You Hate People
Do you avoid people too?
Enough small talk.Here are some waysto earn extra cash, without all of the social stuff.
But theres no limit on the amount you’ve got the option to put in a taxable account.
Your letter illustrates the importance of keeping estate documents up to date, though.
Fortunately, youre following your grandfathers wishes by sharing your inheritance with your sister.
But anyone who assumes their beneficiary will do whats right could leave a lasting family feud as their legacy.
Did you know?
Send your tricky money questions to[email protected].
It sounds appealing right?
Check it out here!
