Inheritance Confusion.?
Question by Christopher: Inheritance Confusion.?
I have recently come into a sort of fairy tale inheritance. I’m curently working as an executive assistant with a major sports company and have been away from my family since 17 when I first moved to california for college. I’m now 26 and at the begining of this year my great aunt passed away and left me and my 2 siblings each a percentage of the sale of her home. (She was our godmother and had no children.) Since speaking to the lawyer (hers and mine) I’ve been informed that there was a clause in the will about being an upstanding citzen, completing college and being an “active member of the catholic church”. All of which I am. My elder brother however is a convicted felon (armed robery and drug use), has never finished high school (he’s 28) and has converted openly and proudly to budism while in prison last year. My sister is a lesbian and also did not go to college (she went to beauty school and droped out and got caught using money my parents were sending for alcohol and lavish clothes) and recently went to canada to “marry” her lesbian “wife”. So, the lawyers have said in short, that they cannot qualify for their inheritance, thus it will all come to me. I’m receiving a check with in 10 buisness days at my lawyers office, as the home recently sold for $ 2,820,000.00 I have been instructed to expect a check for just upward of $ 2,100,000.00. My question is what can I do with this large check (besides ask my lawyer and have to PAY him) and secondly, will or can my siblings sue me or protest this in some way? My aunts lawyer said no, my lawyer said maybe but don’t worry about it, and there was minimal attempt to contact any of us! I actualy called back on a letter they sent and went home for her funeral last year, they were not there. So that’s my question and I realy appreciate your assistance, I hope that someone more financialy inteligent than I can help me out. I only make about 65k a year and live in a 2 bedroom apt, so this is all verrrry intemidating and any advise would be valued.
Thanks a lot.
Chris.
Best answer:
Answer by Helen, EA in PA
Chris – this is a you know what load of money. DO NOT rely on free advice, get your team (attorney and tax professional) in gear and have them help you.
Helen, EA in PA
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