NFT: NFT Mother in-laws updated will

I took this from an old textbook...I hope it helps you.
You make your disclaimer in writing.
Your inheritance disclaimer specifically says that you refuse to accept the assets in question and that this refusal is irrevocable, meaning it can’t be changed.
You disclaim the assets within nine months of the death of the person you inherited them from. (There’s an exception for minor beneficiaries; they have until nine months after they reach the age of majority to disclaim.)
You receive no benefits from the proceeds of the assets you’re disclaiming.
The assets you disclaim don’t pass to you in any way, either directly or indirectly.
You may want to contact an attorney.

the assets, does that remove your liability from any debts, liens, etc.?

i think that is really what super freak is asking.

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upon death the house be sold and then the assets split?

In comment 16293063 Csonka said:

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upon death the house be sold and then the assets split?

Our worry is that the junkies simply won't move out (1 currently lives there the other is living in day to day transient motels) and we will have to endure legal fees and the associated hassle of getting them out. All to have NY tell us that they are part owners and can't evict them.

Is what you need to do in NY.

Had to do it with my family didn't want to get involved. No need to even tell MIL just make sure you wife is not executor of the estate.

But retains a life estate you would still need to get them out or find someone to purchase who will evict, but they won’t be able to hold things up as much.

Of the net proceeds from the sale of the house, plus any other assets to be split.

Determine what that number would be divided 4 ways, then between the sober siblings and mom, see if there is a way to dangle the carrot for your brother-in-law residing in the home to take the money and rebuild his life in an apartment or other living arrangements.

If it's possible, perhaps there is a way to use a portion of the money as an advance to get him into rehab and therapy.

I believe that the person struggling with addiction has to want to get clean. But if the desire is there, perhaps having a realistic pathway to sobriety would be the little push he needs.

These people need help but recovery is possible. Not without help, though, particularly ongoing therapy.

And post re-hab, ANY job will help him get a sense of self-worth. Needs to start with a conversation between your in-laws (the sober ones) to develop a realistic strategy, but long-term therapy must be in that strategy.

I know what it's like dealing with family members in what seems like a hopeless situation and painful cycle, but there really is hope. He needs to know that he already lost his dad, does he also want to see his mom go to her grave thinking that two of her sons will live the rest of their lives destroying themselves under the power of addiction.

If he cares at all about his mom (because at this point he probably doesn't care about himself yet, he may be willing to try.

The goal should be to get him to a place where when that day comes, his inheritance will help him move forward on a positive path. And mom needs to know that giving her sons a windfall when they are addicts will likely result in them following her to the grave very shortly.

A consult with a probate attorney is also a good idea. Perhaps the answer is putting all the assets in a trust that the responsible siblings control, with financial support to the 2 other siblings dependent upon meeting certain objectives like maintaining a job and stable housing.

Best of luck, this is a difficult situation.

You will never be personally liable for the debts of your mother-in-law's estate. If she names you or your wife as executor, you do not have to take that role.

When she passes away, you can choose not to take your share or to do anything about the will. But if she has substantial assets, the junkies die or something else happens, you may be leaving behind substantial assets.

Alternatively, she can bequeath you assets other than the house that will not involve the junkies.

are equal shares I am willing to bet that they would rather just receive the funds from the sale of the house rather than have a free place to stay for a few months. With their mother gone they will no longer be receiving any financial support from her so they will likely be desperate for a cash flow to continue to fuel their addiction. Learning that they can receive $100,000+ from the sale of the house should motivate them to not get in the way.

let the mother handle this matter.....stay out of it!!!!! it will come back to haunt you with those junkies coming after you just for an old house and few pennies.

Then, execute a quitclaim deed transferring your wife's interest to her remaining siblings. You'll be off the hook for anything having to do with the house, including evictions.
Of course, you'll never see a cent from it, but you seem ok with that.

Netflix's next big hit.

Good luck! =)

In comment 16293114 BCD said:

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let the mother handle this matter.....stay out of it!!!!! it will come back to haunt you with those junkies coming after you just for an old house and few pennies.

+1

I was advised to never do a quitclaim, but to just make sure that we never took anything. Then we can never be held liable for any problems. But I do have two pieces of advice:

First is to try now to get back any sentimental items, like things from your wife's childhood or something your kids might have made their grandparents that you would like to have. Because you shouldn't go into the house or anything once they're gone. Especially if you have siblings you can't trust.

Second is make sure funeral and burial arrangements are pre-established and paid for if possible.

In comment 16293173 cpgiants said:

Quote:

I was advised to never do a quitclaim, but to just make sure that we never took anything. Then we can never be held liable for any problems. But I do have two pieces of advice: First is to try now to get back any sentimental items, like things from your wife's childhood or something your kids might have made their grandparents that you would like to have. Because you shouldn't go into the house or anything once they're gone. Especially if you have siblings you can't trust. Second is make sure funeral and burial arrangements are pre-established and paid for if possible.

This is the best advice. My father had to go through that with his family when his father passed. He has 2 mental case siblings, and one normal brother. Unfortunately his crazy sister took every piece of sentimental valued items from the family (photo albums and family history stuff), thought it would be lost forever as she was toxic to everyone and isolated herself off from everyone. She ended up passing early though, and my dad and uncle were Able to get in touch with her husband who after having about a dozen strokes doesn’t have much going on in his head and they convinced him to find all of this stuff and give it back to them. Definitely heed that advice that anything your wife wants from the family make sure she gets it now.

I feel ya on all this. This is probably going to be me one day as well. My wife’s family is all dysfunctional, and same thing her older brother drive her mom ti already have one stroke with all the bastard kids, drug use and constantly using her and his step father as a means for his habits while never bearing any responsibility for his actions. I don’t want any part of any will with them either, not worth the headache and now that they are both handicapped I don’t see them having anything left to their name in the end either. Just don’t want any part of dealing with her two siblings who are both so selfish and never have helped a bit with anything when we desperately needed it. Good luck

It's a shame that this is even an issue.

Hopefully many years from now I will post a follow-up.

Or if Netflix does a docu-series about that side of the family (1 episode won't be enough), I'll remind everyone to watch.

Thanks again