What are my rights when I am named in a Will but assets have been liquidated?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What are my rights when I am named in a Will but assets have been liquidated?
My father died 26 months ago. He had a Will leaving everything to his wife, upon her death her daughter gets half and I get half. The wife just passed away but I have found out that she had been liquidating assets and has
already sent a check for $450,000 to her daughter. I know I will need to get a
lawyer, which will be costly but I really don’t know where to begin. The
executor of the Will is my step-sister’s ex-husband. Any guidance will be greatly appreciated.
Asked on August 26, 2018 under Estate Planning, Louisiana
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
If everything was left to his wife, then your father could not control what happened to the assets after that: once they were left to his wife, they became hers, and she could spend, liquidate, gift, etc. them, and when she passed away, they would do to whomever she willed them to or who otherwise would inherit from her. A person cannot control happens to what he leaves or gives others after they get them. Now, there are certain ways he could have structured things so his wife did NOT in fact inherit everything on his death: putting the assets into a trust that would pay her certain amounts while preserving the rest for her daughter and you; giving her a life estate in real estate to live in a house for the rest of her life, while giving the "remainder" interest in the property to her daughter and you. But if he did not set up things the right way, if he simply left his estate to his wife, it became his wife's to do with whatever she wanted, and also give to,and leave to (e.g. in her will) whomever she wanted. You need to have an attorney evaluate your father's will to see if you do in fact have a right to anything--you may not.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.