wealth
 

the experiment begins,

my mother in law died a few months ago, we are sorting out the estate and selling the house. the will dictates that the money be divided between the two surviving kids. that means my wife and her brother. this is where it gets interesting.

my brother in law is a career junkie felon POS. i just wired him the first 100k.


will update as information comes in.

I really hope the money helps your BIL straighten out his life.

my wife and the small grim christian part of me know we should have hope.

but....

Should we make a pool on when he O.D.'s?

Was there any restriction such that you couldn't "give" him the money in the form of an irrevocable trust?

Money has never "straightened out" anyone's life in the history of money. Wtf are you talking about? :confused:

I agree with your post... The money will "most likely" make things worse but I was trying to be positive for the OP's sake.

Obvious post warning: Imagine giving someone money knowing they will "piss it up the wall".

Oh yeah .... this is going to end splendidly ... or not...

He'll either die with a needle in the arm or buy a cheap house....

I feel you have little faith in humanity

It’s “his money”. A year ago I tried to talk the MIL, aka the enabler, into setting up a trust. It never got done. I’m trying to distribute the inheritance as fast as possible and walk away. Just having my bank account touch his bank account makes me feel unclean.

He is an unkillable cockroach. 48 and a hard core drug user since his teens. But we are taking bets on when he’s broke and calls begging for money.

There is an upside. My kid despises drugs and drug users.

Is it too late to take out a life insurance policy on him?
I don't see this ending well at all.

The estate in mid range substantial. I would have to get creative to squander that much in a year. We will see. He’s in the lower 48. Takes a while for information to come in. Will post updates as they come in.

I like the way you think...glass half full kind of guy! :)

Pay him in Bitcoins ..... problem solved ;)!

Dogecoin? ;)

I was just going to suggest this. Though being a junkie will make it nearly impossible to get anything that would pay if he dies in the first two years of a policy.

He’d need to sign off on the policy. And I’d have to establish a financial connection wherein his death would inconvenience us.

Nice try though.

You could lie about absolutely anything (except his b-day) and even forge his signature. If you can get him approved and he makes it two more years, you collect, no questions asked. You didn't hear this from me.

If I was truly a bastard I’d call a few of the dealers he screwed over back in the day. He’d end up in a crab pot and we’d pocket the rest of the inheritance.

2 years is the standard, eh

Good luck

you screwed up giving him $100k all at once before you got this policy. you could have dicked him around giving it out a bit at a time, like 10k a month "for his own good". when he was jonesing like the tinman in week 3 of every month he would have signed his life away for $25....

unless he knows where you live.

He might be a druggie ands a loser but it is his inheritance to do what he wants with it.

Not your responsibility to see that he spends it wisely. Sad, but it's his life.


I have a couple of sisters who are losing their inheritance money through stupidity and there s nothing I can do. Do to help them I mean. Frustrating, but sadly that is life.

Well, that's true. But how could we have fun with this if we all had your attitude?:rolleyes:

Honestly you’re just the messenger. You can’t fix addiction and trying to straighten him out will only lead to your own misery. Split the money and walk.

Sorry you have to be the executor of enablement.

It's his money and his life.
He'll feel like a King until ......

There it is, the last line especially.

I asked to be removed as the executor on a wealthy friend's estate...he is unfortunately a prescription medicine junkie, hooked like you read about and I tried to help.

Don't. Whatever happens next is not your issue.

Best.

Money will only accelerate his tragedy. What a waste.

Wow, that's not going to go well. Hopefully (I assume), he survives the windfall.

Thank goodness the junkie isn't the executor.

Be sure to do exactly what is specified in the will to avoid the likelihood that BIL will go thru the money quickly and thereafter sue the estate for more money.

You might want to look into having a conservator appointed to manage the BIL's funds. Good argument that BIL does not have capacity. Also, the money, and your BIL, are easy pickens in the drug world.

OHHH!! So that is why my cousins took out a life insurance policy on me...well I sure as he11 fooled them they have been paying on it for over 30 years... They would have probably made a better ROI if they had invested all those premiums instead. I guess their attitude is in for a penny in for a pound.

Mostly I’m trying to prepare for a worst case taxes scenario. I’m holding money back because I’m sure he’s not going to pay his share.

My MIL, the enabler, set it up this way. That’s how im going to do it. If he objects I wish him luck finding a lawyer willing to take his case.

He made serious enemies when he was dealing back in the day. One of the big smuggling families out of Ketchikan wanted him dead. If they find out he has money he’d better run.

Know the laws in your state. My mother died in June. Nothing gets distributed until we settle the entire estate and beneficiaries sign-off. Still trying to liquidate some funds, they are clawing onto them. Her estate was easy also, no house or other real estate.

I suspect once she died, he becomes the beneficiary and if something happens to him now, the money goes to his estate.

If any taxes were left due I wouldn't have sent him a dime...

EVERYTHING HAS TO BE SETTLED AND RESOLVED BEFORE A DIME IS DISTRIBUTED.. If not somebody is going to get fked on this one...


After all bills are paid and the net is determined..he gets half and sis gets half of what is left.. Thenyou are done...and he can go to he11...

Better withhold $10K for the funeral.

Two years is standard contestability in every state. After that, companies will even cover suicide. But there's no questions asked after two yrs. Submit claim, get check a few days later. It's that simple. The only thing that can change is if you lied about your b-day, and they will still pay then, but based on what your premium would have gotten you based on the correct b-day. The benefit of what I do is generally immediate coverage with no waiting period. Lots of companies out there have a two year wait, no one ever reads their paperwork and so healthy people sign up for those policies, not knowing any better. Those healthy people balance out the risk the companies carry with the unhealthy people. I can't tell you how often I get into a home, dig into their paperwork and see they're still not covered due to the two yr wait, but easily qualify for something better and cheaper.

His money, his life, his business.

No he did not screw up. His wife got $100k. Her brother got $100k. ASAP which is what varmint chose to do.

If you have integrity you don't play shenanigans.

You would do the same thing if it was your family, s**t asses included. You know I am right.

Well stated.

Not enabling is brutally hard. Totally against human nature.