‘The only end-of-life planning he will allow is that we need to throw a big party and have the funeral at his church.’
My dad is in his late 80s and in failing health. He shuts down any plan I or my siblings come up with to help with his health and I have accepted that he is probably not long for this world.
I’m hoping that his assets will, as he believes, all transfer seamlessly to his wife. He also has this idea that one of his accounts will be divided amongst his kids. I don’t want anything except for his wife to be comfortable, and most of my siblings agree. In New York, for example, when a person dies intestate this process begins by determining who is in the family, according to Kerri Castellini, a lawyer with Price Benowitz in New York. “If there is a spouse and no children, the spouse receives 100% of the estate. If there is a spouse and children, the spouse receives $50,000, plus half of the balance of the estate. The children inherit everything else.
Do you have questions about inheritance, tipping, weddings, family feuds, friends or any tricky issues relating to manners and money? Send them to MarketWatch’s Moneyist and please include the state where you live .
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