Talking to Primo. Ted called him and they spoke for two hours about the will and the estate.
Turns out that Sly had put a clause in the will that each of the grandkids would get $150,000 for college.
That's four grandchildren, none of whom are ours.
Sly mean to update the will, but of course he probably never did.
Primo had already planned to give each grandkid about $60,000 for college. Michael and Maria have already graduated and Michael has $60,000 in school loans, Maria has about $35,000.
I am getting beyond sick. I know it was Sly's money, etc, etc., but even Ted pointed out to Sly that writing the will that way was not fair to Primo.
$600,000 is more than half the estate. After all of Primo's time spent with Sly and Doris, after all the help he has given them, that he would not get very much money from the estate?
Sick to my stomach.
Oh. By the way. I noticed this clause in the will over seven years ago. I also noted the will was not complete.
Primo had mentioned to Sly and Doris several times that they might want to complete their will, but they never did.
Too busy watching porn, I expect.
Primo will meet with the lawyer tomorrow. More news then.
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Am curious to see how this pays out. I don't understand what you mean complete the will? Does it not address all of assets of the estate? Was it not signed? Did Doris have a will? That would make things more complicated but Primo would be entitled to half of what would be considered her estate. And then some part of Sly's.
ReplyDeleteMakes me grateful that my mother and my mother-in-law had wills. While they just divided everything evenly among/between the children it makes the whole process much easier.
Liz, years ago, I pointed out to Primo (who had a copy of the will) that he got nothing - everything went to the grandkids. He asked Sly about it and Sly said, "Oh yeah - we need to add a codicil" or something like that - said some assets in the trust and some not.
DeleteSly and Doris had a joint will.
OMG, I am so sad for you guys! The saddest part is that what is fair is not always what's legal. If things are as you say perhaps you can negotiate with the grandchildren yourselves.
ReplyDeleteThanks, Marsha. The grandkids are great.
DeleteGood grief. That would be so.not.fair. I pray Doris did not leave everything to Sly.
ReplyDeleteIf the grandchildren get everything, if I was Primo I would for sure take my full executor fees (whatever % is allowed by the State, thinking the job will be hell on wheels and I have just spent a year of my life caring for my parents) or I would decline to be the executor...
emma, there is a nice twist about fees coming up. Sly is a jerk. Reached from beyond the grave to be a jerk.
DeleteI've already talked to my mom about her estate. She doesn't have much but most will go to the sister that she lives with. I'm fine with that. It seems only fair that the person who takes care of her (or maybe - puts up with her is a better way to put it) should be the one to get the most money.
ReplyDeleteIn the absence of advance planning Primo will have to take whatever is legally provided to him, unless he wants to engage in a long and family-shattering battle. Money has a weird way of messing up family relationships.
Debra, that seems fair to me. I am also impressed that your mom actually discussed this with you. Good for her for making sure everything is clear before she dies.
Deleteditto all of the above. the best possible outcome might actually be for the will to be invalid and the state will divide it by three. Jack and Ted can give their kids money for college out of their shares.
ReplyDeleteActually, even if Sly did leave a valid will with Primo as executor, Primo can't "decide" to give the kids college money. the Will decides - even if that means that more than half goes to the grandchildren.
Executing a Will is a pain in the you-know-where. good luck.
webb, we are discovering that executing a will is a royal pain in the ass. I thought my dislike for Sly would stop (or not get new ammunition) when he died, but I was wrong.
Deletewebb, technically you're correct, but I assumed that Primo meant that he would give them part of what Sly bequeathed to him...before he knew that he was mostly cut out of the will.
DeleteGoldie, I know this is all in the past, but I hope that Primo realized that no one can force you to be an executor, and at this point he's done more than enough, maybe it's time to wash his hands of it and let the chips fall where they may.
I've never been so happy to be an only child of divorced parents as I have been reading these recent posts.
OH, man. That sucks. Poor Primo.
ReplyDeleteHowever -- is he honestly surprised that Sly didn't have his affairs in order? I don't mean to be rude, but this is simply an extension of the (lack of) planning and forethought that Sly exhibited all along.
Nope. Not surprised at all. And it actually gets worse.
DeleteOh, man!! That's both exciting (because I love your blog and can't wait to see what happens next because this is kind of like a train wreck that you just can't look away from!) and so, so, sad (because Primo really did deserve so much better than he got from S&D.)
DeleteOh, man!! That's both exciting (because I love your blog and can't wait to see what happens next because this is kind of like a train wreck that you just can't look away from!) and so, so, sad (because Primo really did deserve so much better than he got from S&D.)
Delete