Re: Would you believe him?

hyacinth003 · ‎03-12-2010

@50Mickey wrote:
Life insurance does not pass through the estate. If this was a policy owned by your father and brother and named your SIL as beneficiary the insurance company will most likely not discuss it with you. It is not part of the estate. If it was a life insurance policy most likely your SIL submitted a claim along with the death certificate and received the proceeds minus the $95 withheld for taxes. Either way the estate does not owe taxes.
By the way did the insurance company send an envelope addressed to "estate of Hyacinth's father" ?

Yes, that was how it was addressed. Except the address was my brother's. I got it because I have had mail forwarded addressed to my dad. "Owners" were listed as my father and my brother." It was not life insurance. As I explained in another post, it was money deposited monthly, but so far I cannot find it. So, I keep looking.

Hyacinth

jackthebear · ‎03-11-2010

@hyacinth003 wrote:
I called the insurance company today. They told me my dad was getting deposits into his checking account monthly. I have combed through the bank statements and I don't see it. Not saying it isn't there, I am just not seeing it. They would not tell me the amount until I prove I am executor. This is how much FUN being executor is. So my sister-in-law being angry my brother is not co-executor is a riot. It is frustrating and a lot of work.

They also told me it would be taxable since taxes were not collected on it. It would be taxable to the estate. Remember they had access to my dad's checking account. I need to write the insurance company with written proof of my being executor (done this before - send that portion of will) and they will probably tell me the amounts and answer other questions.

I will write the insurance company and try to get my questions answered. Right now it looks like my dad's account got $10,000 that I cannot find. And I will figure this out no matter what.

Hyacinth

I know someone whose sister took money from a parent, that breaks the sibling bond, get a lawer

hyacinth003 · ‎03-12-2010

@Shanus wrote:
@hyacinth003 This issue w/ your father's estate and differences with your brother has been coming up here for awhile. I agree you need legal advice. If the attorney thinks you also need tax advice, he can refer you to an accountant.

@Shanus

Estates take time to settle. My dad passed away in September, 2019. It has not been very long. You cannot settle or end them until all obligations, especially taxes, are paid. I still did not have all relevant tax documents until February.

I have arranged for my brother (as a beneficiary) to get all monies already except for the amount left in the checking account. I have done all estate duties except for filing taxes.

Hyacinth

pigletsmom · ‎11-21-2011

It sounds to me like you need to put it on his taxes since the tax form is in his name and SS number. I'm not sure legally it matters at all where the money was going. Since both the your father and brother were on the account your father could have told them to put it in your brother's account.

The taxes have already been paid and how the money was doled out before that was between your father and brother.

hyacinth003 · ‎03-12-2010

@pigletsmom wrote:
It sounds to me like you need to put it on his taxes since the tax form is in his name and SS number. I'm not sure legally it matters at all where the money was going. Since both the your father and brother were on the account your father could have told them to put it in your brother's account.

The taxes have already been paid and how the money was doled out before that was between your father and brother.

@pigletsmom

The taxes have NOT been paid. It is NOT life insurance. So, if this went to my brother, I feel he pays the taxes. And he tells me that he knows NOTHING about this. The insurance company says MONTHLY deposits were made into my father's checking account. I do not see these deposits in his checking account. I asked if it was included in something else - like his pension payments. My Dad was a retired agent with this insurance company and received a pension - she said no, it was separate.

The real point is that I received a tax document with my brother's name and address on it. It was addressed to the "Estate of Hyacinth's father." That's how I got it. I am responsible for filing the taxes, so I need to understand this. I find no evidence that my father received this. Since my brother's name was also on it, I ask him what this is for tax purposes. He says that he has no idea, and since I am executor to find out myself. His wife knows every penny she's ever come across - hers or anyone else's. So I believe she or both of them know. DId they take it? Am I missing it as I looked through my Dad's checking account records?

So I've asked him to check with his wife (since he claims not to know) as she is on the account. I believe he already did that!

So I will write the insurance company (with my proof as executor) and they will answer my questions. But I want my brother's answer.

Hyacinth

Sage04 · ‎07-10-2011

@hyacinth003, there is a lot you don´t know and will never know about all that they did. I said in the beginning, sometime last year that I would not be surprised if they had taken out life insurance policies on your dad and who knows what else they did.

Hope this ends soon. Yes send the information to the insurance company.

Your brother may not know exactly what went on. Your sis-in-law and your dad were close and he may have thought that whatever she suggested would benefit her family and he went along with it.

You want to bet that she has a seperate bank account (nothing wrong with that) that contains monies from his life insurance? I´ve heard about people like your sis-in-law.

Get it done and take care of your self and make sure that you put things in place for your daughter.

50Mickey · ‎05-21-2010

If your dad's estate is as complicated as you are saying I don't understand why you have not turned it over to an attorney who handles estates and probate. Also why are you struggling with tax issues when you could turn all of this over to an accountant to sort through? I am still shaking my head over an insurance company addressing a tax from to " the estate of Hyacinth's father." Was this tax form a 1099? I don't mean to be disrespectful but it sounds to me like you are enjoying this more than you care to admit. But I do wish you well and hope that you can soon get some peace and closure.

pigletsmom · ‎11-21-2011

@hyacinth003 wrote:
@pigletsmom wrote:
It sounds to me like you need to put it on his taxes since the tax form is in his name and SS number. I'm not sure legally it matters at all where the money was going. Since both the your father and brother were on the account your father could have told them to put it in your brother's account.

The taxes have already been paid and how the money was doled out before that was between your father and brother.
@pigletsmom

The taxes have NOT been paid. It is NOT life insurance. So, if this went to my brother, I feel he pays the taxes. And he tells me that he knows NOTHING about this. The insurance company says MONTHLY deposits were made into my father's checking account. I do not see these deposits in his checking account. I asked if it was included in something else - like his pension payments. My Dad was a retired agent with this insurance company and received a pension - she said no, it was separate.

The real point is that I received a tax document with my brother's name and address on it. It was addressed to the "Estate of Hyacinth's father." That's how I got it. I am responsible for filing the taxes, so I need to understand this. I find no evidence that my father received this. Since my brother's name was also on it, I ask him what this is for tax purposes. He says that he has no idea, and since I am executor to find out myself. His wife knows every penny she's ever come across - hers or anyone else's. So I believe she or both of them know. DId they take it? Am I missing it as I looked through my Dad's checking account records?

So I've asked him to check with his wife (since he claims not to know) as she is on the account. I believe he already did that!

So I will write the insurance company (with my proof as executor) and they will answer my questions. But I want my brother's answer.

Hyacinth

Taxes were paid. You're holding a form that says taxes were witheld. The question is who reports the form on their taxes. You've now said that the form was in your brother's name which you didn't say before. I assume his SS number as well. Then he reports that.

I'm guessing your brother just doesn't want to talk to you about it and honestly he doesn't have to. It was their account. But if he has no idea where these deposits went and they didn't go to your Dad then your brother needs to be told immediatley because someone took his money. Gonna assume he does know since there's a tax form with his name on it.

Lucky Charm · ‎03-09-2010

The woman lost her dad and is being played by her brother and his wife.

The father named her executor, not the brother and not his wife.

OP stated 2 days ago, she has a lawyer, she has an accountant.

She's just facing this paperwork wondering what went on.

The brother is playing dumb. He's being ignorant, if he told her to 'figure it out'.

She'll get her answers, be it from the insurance company or the lawyer or the accountant.

I hope you're compensated well for being the executor @hyacinth003 .

Make your father proud.

pigletsmom · ‎11-21-2011

@Lucky Charm wrote:
The woman lost her dad and is being played by her brother and his wife.

The father named her executor, not the brother and not his wife.

OP stated 2 days ago, she has a lawyer, she has an accountant.

She's just facing this paperwork wondering what went on.

The brother is playing dumb. He's being ignorant, if he told her to 'figure it out'.

She'll get her answers, be it from the insurance company or the lawyer or the accountant.

I hope you're compensated well for being the executor @hyacinth003 .

Make your father proud.

But the answers seem to be right in the paperwork she has from what she's told us. Her father and brother owned an account. At some point father or brother withdrew money. Appears to be the brother since his name is on the tax form so for filing it's his. As long as the father or brother got the money there's nothing to be concerned about.