Hi all, My mom and dad made a will because me father had interstitial lund disease and had a short time to live. They put all of us on the will making my older sister the executor.
Right before my dad passed, my older sister spread a rumor to all the others that I couldn't wait for my dad to die which, of course, caused everyone to say take her off the will. And I would never even think such a thing!!! (I live in a different state and in the past few years haven't been home much). No one had any reason NOT to trust her but my dad insisted all four girls split everything evenly.
Four days after my dad passed, my sister insisted my mom talk to her life insurance agent. I was there so my mom wanted me to come to. She spent the time trying to get the agent to convince my mom to put all her accounts in her name only, saying if she ended up in a nursing home, it would protect her assets. The agent convinced her it was a bad idea.
One day, I got a call from my mom crying. She said I should have listened to you. As soon as I didn't sell them your dad's truck for what they wanted, she kicked me out of her house and won't give me my accounts back. She has infact talked my mom into it. UGH!!
She still refuses to give my mom over $100000 in insurance policies.
My mom won't sue her. Is there anything me and my siblings can do? My dad never wanted things this way. My sister has always lived off others and now she thinks she's got a windfall all to herself. HELP!!
Even if sister is beneficiary, if those policies have cash value, Medicaid can have you cash them in to pay for your care. You do not become a beneficiary till the person dies.
Yes, you may need a lawyer to straighten this out. If done without the other children knowledge, you may get sister on fraud charges, financial abuse of the elderly.
P.S. just a thought. If Mom changed ownership of her policy to sister, sister would not benefit, her benefivicary would unless she was able to cash them in. Again, this is confusing. And why is she calling you, the one who lives the farthest away. And the one she may have thought to drop off her Will because of something this sister said.
If she's been declared incompetent see if you can pin down exactly when that happened, before or after she gave powers of attorney to your sister. If an attorney prepared new legal docs for an incompetent person that's against the law.
They may even suggest reporting this as Financial Elder Abuse.
If your mom does not want to follow through you and your siblings may have to be the ones to report the abuse or you may all be out of luck.