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A woman was entrusted with her father’s estate after he passed away without leaving a will. When her younger brother requested his portion of the estate, she hesitated to hand over the money, feeling he needed to be more responsible. A balance between financial entitlement and accountability took place for this family.
Inheritance Responsibility
The original poster (OP), Betty, was left with her father’s estate shortly after he passed. Only she and Kevin, her younger half-brother, have a claim to this estate.
The Court Decision
However, the court decided Betty was more suitable to handle the estate since she was older and held an MBA. Betty used her father’s inheritance to pay off his debts.
Financial Prudence
Additionally, Betty sold some of her father’s assets, increasing the value of her inheritance. When Kevin turned 21, he asked for his entire inheritance.
Seeking His Portion of the Inheritance
Currently, Kevin receives a $500 monthly allowance. However, he wants the entire balance to cover his wedding expenses.
Hesitation and Concern
Here’s where things head south. Betty hesitates to give Kevin a larger portion of the inheritance, fearing his girlfriend will spend it all.
Kevin’s Desire for a Larger Allowance
Betty also feels that because Kevin is only 21 years old, he isn’t fit to make responsible financial decisions. Things don’t sound promising since Kevin has admitted he wants to go on an expensive vacation with his girlfriend.
Legal Entitlements
Kevin is entitled to a $500 monthly allowance from his inheritance by law. However, Betty could bump this up to $5000.
Betty Involves Kevin’s Biological Mother
The $5000 monthly allowance could last Kevin decades, so Betty has taken extra precautions. As a final solution, she decided to involve Kevin’s biological mother.
Accountability Over Entitlement
Betty told Kevin that she would give him the money if his mother agreed to it. Kevin’s mom doesn’t get along with Kevin’s girlfriend, which Betty is using to her advantage.
Know Your Legal Boundaries
“Without a Will what legal authority do you have to decide he gets an allowance instead of the lump sum?”
Finally an Adult
“Your half brother is not a ‘kid’ anymore; he’s 21 years old. Now he may be irresponsible but what he does with the money is on him. Your ‘compromise’ of having his mother handle the money is just trading one jailor for another.”
You’re Not His Parent
“You could have been teaching him to invest, introduced him to a financial advisor, helped set him up with a stock portfolio, helped him get a business started, but no. You acted like a putative parent.”
The Decision to Manage Finances
Betty figures that if Kevin sues her, he’ll have to pay for all the legal fees out of his allowance. According to Betty, until Kevin proves to her and his mother he can manage his wealth, she will not increase his allowance.
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