OT, Question about Step Fathers estate. (He did leave many old tools)

[steve]

A house and over $100,000 is involved and my sister is the executrex. How do I monitor the collection and distrebution of the assets. I'm seeing a lawyer next week but I thought someone here has been through this. Am I at the mercy of my sisters honesty??

My step dad Loved Craftsmen tools. besides about 10 different craftsman toolboxes filled with craftsman tools. He has many early power hand tools in their metal boxes. Router, belt sander, finish sander, electric drill, power plane, sabre saw, portable saw.

Also an old Webster/Chicago wire recorder

Bell & Howell 8mm filmo master projector and about 10 reels of film.

A very fancy singer manual sewing machine. foot pedal powered. I opened it up and their was cloth in it. It still works.

Other than sentimental, I think nothing of value$$.

Thanks for any info

Steve

[Edwin Pawlowski]

If you can't trust your sister, no amount of advice from strangers is going to make things any better. Your lawyer and the lawyer for the estate will take care of things. As executrex she is probably entitled to some fees for her duties.

[Skirmishd]

Sort of. These occasions bring out the worst in people. I would ask her specifically for the tools you want. She probably doesn't need or want them.

My husband only wanted a few things from his parents' estate and he got them, just an old vise from his grandfather and a glass pitcher, looks like the Koolaid pitcher. I expected nothing from my mother's estate and got lots of jewelry, money and rancor from my brothers. Hopefully your sister will be fair. Best of luck to you!

[scott_z500]

You should be able to eBay the tools that you don't want and at least get something for them.

[SQLit]

Sorry for your loss.

Check with an attorney locally about fees/schedules and procedures for the "executrix". I am only familiar with Iowa, when my father passed. Everything that is done must be approved by a judge. She could make the decision that selling everything and dividing the cash is easier for all. Normal practice.

If there are things that you want or have semimetal value then offer to buy them at what ever appraised price there is. You will be getting appraisals. Then deduct the cost from your share of the proceeds. This is going to take almost a year especially with property involved.

My brother was the executer and we had some bumpy areas. One was Dad's car, worth about $5000.00 at the time, 15 years ago. We all wanted it. I was getting drunk one night and was thinking about our nephew and his state of affairs, married, 2 kids and a Camero. At breakfast I suggested that we the brothers give the car to the nephew and solve the argument. One brother agreed immediately the executer agreed buy the end of breakfast.

Best wishes in the coming year.

[trader4]

The first questions are, does a will exist and do you have a copy? If so, and you are named, then how much is left to you and what is your relationship with your sister? If it's reasonable you could offer to help with the process and see what she says. That's by far preferable to you getting a lawyer and going that route. If the will is clear, the only property is a house, cash and personal property and the heirs are agreeable, it should be straightforward.

As executrix, your sister has a lot of power and if you wind up in a hostile position with your sister or there is a challenge from other heirs, etc., you can quickly burn up an estate like this in legal fees.

[Steve]

Because my sister was the benificiary of a $77,000 IRA she said I could have everything in the house. Not that there is that much of value in the house. So far everythings cool but there is $164,000 in a CD and the house must be worth $400,000 so there is a lot of money involved. I know this goes on all the time so I was looking for experiances others may have had. I like to learn from others mistakes if I can.

Thanks for the input!

Steve

appraisals.

[Charles Spitzer]

you need to be asking these questions to your lawyer. you need a lawyer, not a newsgroup.

[Norminn]

Does your sister read newsgroups? If so, watch out.

The executor will need to document transactions, so that would be available. You might have gotten a good deal. When my mom passed away, her tool collection drew the most interest. She was a hobbyist and had her own workshop. We had nothing of an antique nature, just good stuff. It sounds as if you have a very large collection. "Old" can mean no longer made, or it can mean highly valuable antique. Don't make any deals until you know what you have. I know from my antiquing days that many autioneers have a following of collectors of certain items, and that some have a large following who will travel far and pay very well to get items they want. Try to find some autioneers and check out a couple of sales if you can find some with similar items. Published price guides have never been reliable, IMO. Check out Ebay and some antiquers newspapers.

How much would a Craftsman toolbox, full of tools, cost to replace?

I learned recently, doing genealogy, that photos of my great grandfather are selling on Ebay - photo of him in uniform, and badge collectors buy them. Whodathunk!

[Steve]

I gather information from many sources! Other peoples experiance is valuble information. Of course I will consult a lawyer.

Steve

[Chemqueries]

You are doing the right thing by getting your own lawyer. If necessary, consult with a few lawyers, and hire the one with whom you feel most comfortable. As another poster said, sometimes these situations bring out the worst in people, but I hope that doesn't apply in your case. I think you should tell your sister exactly what you'd like to have. Make a list of things to talk about with the lawyer. You should also go to Barnes and Noble or a similar bookstore and buy a few books on wills and estates so you can be better informed and better able to discuss things with the attorney. I think you are absolutely right to use as many resources as possible (friends, acquaintances, Internet, lawyers, etc.) to help you through this difficult time. One other bit of advice. . . The lawyer(s) you hire may turn out to be just fine, but I know of some bad lawyers, so, if you can, teach yourself as much as possible. Resist any temptation, conscious or unconscious, to relate to the lawyer as a surrogate parent or family member. Just as patients should be well-informed consumers, so should legal clients. Every single time I've placed all my trust in a hired professional and allowed them to do all the work, I've regreted it. Even though you are paying them, it should still be a collaborative effort. No matter how good the lawyer (or doctor or accountant) is, you MUST look out for your own interests. Teach yourself as much as possible. Good luck to you!

[Andy Asberry]

Just some observations as an executor.

Did he leave a will? Is she a full or half sister or step sister? Depending on the answer to these questions, you or she may be entitled to nothing.

If there is a will, the executrix must follow his instructions. There can be no negotiations. She must divide his possessions as he wished. Beneficiaries can accept or refuse. If you refuse an item, it reverts back to the estate. Negotiations or trades can be made between recipients after division of the estate.

Seek legal advice. Be extremely careful about starting any adversarial legal action. The executrix's normal legal expenses are deducted from the estate before division. The exception is illegal action on her part. She would have to defend herself in that case. If you suspect any shady business, you can simply ask the probate court to look into it. No cost to you.

[Norminn]

clipped

Good advice. I've known some pretty decent families split over what happens after death of parents. Accept that there are lots of emotions coming into play, emotional value of certain posessions with little monetary value. If things get rough, remember that (sure seems like it) your step-dad may have taken great pains to leave what he believed was of most value to you and not split in half to the penny. Would have been easier to say "sell it all, give each half". Your step dad left you all of his tools? That speaks volumes to me :o) Good luck!