Dispute over Moms inheritance promise.

[Nimbex]

Jurisdiction

Texas

when my mother passed away her assets were liquidated and distributed among my siblings, but because of my health she kept most of my portion with my brother who was to make a monthly deposit lasting until I reach the age of 65, a little under 5 years from now.

I'm being negatively impacted by the rising interests rates and I asked my brother to put the majority of the money in the stock market. Mainly in one specific stock I've been researching for several years and I know as certain as can be known in the market the stock price will increase.

My brother claims it goes against his promise to my mother to make the money last until I could get SS at 65. Don't know if it's relevant, but mother was in Florida, I'm in Texas and my brother in Colorado. Can I somehow get most of the money invested in stocks or get the funds myself.

I don't know the reason why my mother chose this method, but the resentment I sense from my brother is strong because I was just told she gave me a larger portion of the inheritance. I can only guess it's because of my multiple health issues.

 

[zddoodah]

when my mother passed away her assets were liquidated and distributed among my siblings, but because of my health she kept most of my portion with my brother who was to make a monthly deposit lasting until I reach the age of 65, a little under 5 years from now.

What does the highlighted mean? Did your mother have a will? If so, did the will create a testamentary trust whereby your share of the inheritance was given to your brother to hold in trust for your benefit? Where or with whom is he supposed to make these monthly deposits?

I'm being negatively impacted by the rising interests rates

How so?

I asked my brother to put the majority of the money in the stock market.

If your mother had a will that created a testamentary trust, does the trust give you the right to dictate what your brother does with it in his capacity as trustee?

Don't know if it's relevant, but mother was in Florida, I'm in Texas and my brother in Colorado.

Where is the money currently being held?

Can I somehow get most of the money invested in stocks or get the funds myself.

Based on what you've told us, unless you can convince your brother to do what you want, you'll have to sue him. Can you do so successfully? No one who hasn't read your mother's will and any other testamentary documents that may exist, including any probate court orders can possibly answer this intelligently.

 

[adjusterjack]

Mainly in one specific stock I've been researching for several years and I know as certain as can be known in the market the stock price will increase.

That is the statement of a bloody fool.

And we all know that a fool and his money are soon parted.

Your brother is right to keep the money safe so it lasts until you are 65.

If you are in such poor health, apply for Social Security Disability.

 

[Nimbex]

What does the highlighted mean? Did your mother have a will? If so, did the will create a testamentary trust whereby your share of the inheritance was given to your brother to hold in trust for your benefit? Where or with whom is he supposed to make these monthly deposits?

There is/was a will, but I didn't make the trip so don't know what it says. I will have to ask and find out.

How so?

I have some credit card debt and inflation is also diminishing the value of the inheritance, that is my greatest concern.

If your mother had a will that created a testamentary trust, does the trust give you the right to dictate what your brother does with it in his capacity as trustee?

Don't know, again will have to find out.

Where is the money currently being held?

My brother is holding the money, I suspect it's in his checking and/or savings account. I receive a direct deposit monthly into my checking account.

I will ask my sister for a copy of the will and go from there. I greatly appreciate the time and advice given, God bless you.

 

[Nimbex]

If you are in such poor health, apply for Social Security Disability.

Maybe that's what I should've done, but I'm trying hard to improve enough to return to work. Maybe I am a fool, but there are companies out there run extremely efficiently doing amazing things decimating the competition. Thanks for taking the time to respond, God bless you.

 

[adjusterjack]

Maybe that's what I should've done, but I'm trying hard to improve enough to return to work. Maybe I am a fool,

You are, if you don't apply for benefits that you are entitled to.

You can improve and go back to work even after you are awarded benefits

Look into it

 

[zddoodah]

There is/was a will, but I didn't make the trip so don't know what it says.

The trip where? How about asking someone who has the will (or a copy thereof) to send you a copy? If you've never seen the will, how do you know it exists? How do you purport to know that "she kept most of [your] portion with [your] brother"? Was the estate probated? How long ago did she die?

Any legal issue that exists isn't going to go anywhere until you gather relevant facts.