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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 37621
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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There is money in an account with my deceased father named

Resolved Question:

There is money in an account with my deceased father named as the benefactor, the owner of the account is dead as is the benefactor ( my Dad). The owner of the account wanted my Dad to have a cemetary plot and stone ( he was cremated). Do I have to "share" the money in the account with my siblings or can I put it on the intended plot and stone -this was not written down, but was given to me (the executor) verbally.
Submitted: 2 years ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 2 years ago.
Thank you for your question.

If I may ask, did you father leave some sort of a will or anything in writing pertaining as to how these funds should be split?
Customer: replied 2 years ago.
My father wanted everything equally split, however, my Uncle (his brother) whose estate I am presently executor of, explicitly stated that only people listed in the will should get money (evenly split among my cousins) I am only mentioned as the executor to get a certain amount to carry out his wishes.
Expert:  Dimitry K., Esq. replied 2 years ago.
Thank you for your follow-up, Erika.

One more quick follow-up, please. Who passed away first, your father or your uncle? I am trying to figure out which estate would be entitled to handle this account. Thank you!
Customer: replied 2 years ago.
My father, about 7 years ago, my Uncle recently.
Expert:  Dimitry K., Esq. replied 2 years ago.
Thank you for your follow-up.

In that case the funds became your uncle's and not your father's. They would therefore be distributed as per the wishes of the will that the uncle maintained, not the father. If the uncle expressly stated that the will governs, that is what you must follow because those assets become part of the residuary estate and then split out as per the will instructions. As an executor you do have some flexibility in how to spend the funds, but if your father was cremated, the use of that account is no longer necessary...and therefore his heirs get the money. If you choose to withhold it, then those heirs have the right to file suit against you for breaching your fiduciary obligations against you in this instance.

Good luck.

 

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Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 37621
Experience: Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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