I have a parent where cancer has returned. She may live for 1 more year or, if the treatment is successful, then she may live for 15+ years. It is not curable. Late 60s, is in her second marriage, and they keep their finances separate. Each of them have their own trust that is to distribute each of their estates to their own children. My sister and I will receive a 50% each from our Mom. 0% from her partner. My sister and I are on good terms and I have been chosen to be the executor.
My Mom showed me her trust several years ago, but I can't remember all of it. The cancer info is new for all of us, so I will need an appropriate time to ask her to see it again. I recall seeing 2.5MM. I cannot recall if that included her home. Her home is 1.5 - 2MM. She owns the home and not him. The trust stated he can live in the home if she passes, but he now has Sundown Syndrome so he may need to move into assisted living. For some more perspective, I don't know how much money he has. My guess is 10MM+. If my Mom was not married to him, I believe she would need to move to a less expensive area.
What should I do to prepare? Is there a wiki on a few of these topics?
My Mom showed me her trust several years ago, but I can't remember all of it. The cancer info is new for all of us, so I will need an appropriate time to ask her to see it again. I recall seeing 2.5MM. I cannot recall if that included her home. Her home is 1.5 - 2MM. She owns the home and not him. The trust stated he can live in the home if she passes, but he now has Sundown Syndrome so he may need to move into assisted living. For some more perspective, I don't know how much money he has. My guess is 10MM+. If my Mom was not married to him, I believe she would need to move to a less expensive area.
What should I do to prepare? Is there a wiki on a few of these topics?
Statistics: Posted by jumbo shrimp — Tue Dec 24, 2024 1:52 pm — Replies 0 — Views 32